Both of the major home price indexes that were released this morning showed continued deceleration in the rate of appreciation, even though July is usually one of the strongest months of the year for home price gains. The Federal Housing Finance Agency's (FHFA's) House Price Index (HPI) and most variations of the three of the S&P CoreLogic Case Shiller Indices turned in slightly smaller increases in July than in June, both month-over-month and on an annual basis. The Case-Shiller National Index which covers all nine U.S. Census districts, reported prices were up 6.0 percent compared to July 2017....(read more)
Freddie Mac's Economic and Housing Research Group said on Monday that the U.S. economy and job market are firing on nearly all cylinders, "but the housing market has essentially stalled." The solid growth of the U.S. economy during the second quarter, an increase of 4.2 percent and exceeding forecasts of 4.1 percent, was the fastest in nearly four years. Solid consumer spending and business investment, the Group says in its September Forecast, should keep the economy on a very strong growth path of 3.0 percent this year, moderating to 2.4 percent next year.
Are weather patterns beginning to provoke annual swings in mortgage delinquencies? Black Knight suggests, in its first look at August 2018 mortgage performance data, that could be the case in 2017-2018. The incidence of mortgage distress was heading to millennium low levels last year before the one-two punch of Hurricanes Harvey and Irma. The first struck the Gulf Coast of Texas in the Houston region. A few weeks later Irma, although less destructive than anticipated, created havoc on both coasts of Florida and delinquency rates shot skyward in both states. A year later those hurricane related delinquencies have retreated; Black Knight reports that fewer than 25,000 remain on the mainland U.S. (most indicators of distress do not include the effects of Hurricane Maria on Puerto Rico and the U.S. Virgin Islands)....(read more)
Reviews from past clients
These are a sample of some of the hundreds of great reviews our clients have left us on Google.
We used Steve Gerstein and he is top notch!! He really cares and takes care of Veterans. We shopped around and everyone told us they take care of veterans, but all they did was try and take advantage of you. Steve really does care and he gets it!! I would truly recommend him if you want the best deal and you want to feel extremely comfortable.
I was shopping around with the bigger bank names that we all know; Chase, Wells Fargo and Bank of America, because that is what I only knew. Steven Gerstein at Coltrain Funding Corp was then referred to me by my trusted CPA and what Steven provided me, that the other major banks did not was: options, flexibility, education, care and just an overall incredible mortgage plan that will help work with my overall short and long term financial and investment plans too. Steve Gerstein is the man; he says what he will do and do what he says. Thank you Steve and Coltrain as we will be back for our investment properties, especially how you calculate the income other banks donât do.
Maria Tufferelli made the process of refinancing my home very easy. She walked me through the process step by step and answered all of my questions. She was always available to me. I would highly recommend her.
Steve is by far the best in the business. His professionalism, knowledge and work ethic is unbelievable. I would recommend him and his team to anyone needing a new mortgage or refinance.
Love working with Tom Russo, he makes the process smooth and easy. Canât wait to work with him again!
Quick and fast action, highly recommended. Thank you Steve for all your help.
Eddie was so amazing throughout the whole process. He was super helpful and never hesitated to answer any & all questions we had. Highly recommend!
Jon and Rick were absolutely fantastic in helping me get approved for a home loan. Courteous, professional, and always available when I had a question. Would definitely recommend!
We were very happy with the service Tom Russo provided us during the purchase of our home. He, along with his team (especially Maggie), made the process very simple for someone like me who had never been through this process before, and I never felt overwhelmed by the process. They were always professional, courteous, and very quick to respond. We always felt we were in very good and capable hands. We highly recommend them, and would be happy to refer any friends and family to them.
We had a wonderful experience with Coltrain. They were very patient and and they walked us through the process. The rate that we were quoted was the one that we got. I would trust them with any financial advice that we would need. Extremely knowledgeable and helpful staff. We are happy know that good businesses around today, like Coltrain.