Mortgage bonds broke through the resistance level and continued to close above the highs from the previous days. The gamble to float last week paid off, but this is a new week with a busy economic calendar. Should you lock or float? Bob Johnson (AKA BobMortgage) shares his opinion in today’s Mortgage Report.

You may know him as Bob Johnson, the senior mortgage advisor at Wallick & Volk, the nation’s oldest privately-held mortgage company. Bob Johnson has helped more than 25,000 families get into the homes of their dreams, in 20 plus years of lending service.

Now with five offices across the DFW metroplex, the nation’s oldest mortgage firm is helping thousands of consumers get into homes with the most up-to-date financial information possible. Wallick & Volk brings experience and integrity into every single loan, but they also deliver a highly personalized touch that conforms to each client’s need. Is it speed of delivery, unique products, total transaction transparency, or great pricing you need? Wallick & Volk has it all in a broker-friendly banking platform that can do the impossible when it comes to home financing.

THIS WEEK: Mortgage bonds broke through the resistance level and continued to close above the highs from the previous days. Bonds now have a clear path to the next resistance level at 103.2. Considering this week’s events, should you lock or float?

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You could say that either Politico didn’t look at the Lone Star State closely enough, or that we don’t have any mayors qualified enough to fit their bill.  And what exactly is that bill? Mayors who overcome the multitudes of negative dynamics facing our cities today. Who are these people, miracle workers? After you read the article, tell us what you think. I’m a little surprised they could not find ONE great mayor in Texas. But there definitely is a correlation between strong real estate markets and strong local leadership.

(And if that doesn’t make Dallas residents get off their butts to vote, I don’t know what will.)

All of these dynamic mayors are interesting people from diverse backgrounds — couple of Rhodes scholars in there — who are making their cities better places to live and buy homes. A few have higher political aspirations — as many have said our Dallas mayor Mike Rawlings did before President Trump messed up his plans. The thing is, all cities have problems and the mayor’s job is a tough one — balancing opposing voices, battling crime, violence, drugs and homelessness; attracting or creating affordable housing; spurring economic development and managing growth. Plus new battles have emerged since the presidential election, with immigration reform at the top. I think this quote from the profile of L.A. Mayor Eric Garcetti, who apparently has presidential aspirations, is almost a theme: (more…)

It speaks volumes about the state of my own home that I’m deeply attracted to property with killer outdoor living spaces. This post-war traditional in the heart of Midway Hollow may not be much to look at from the front, but just wait for it, folks. The backyard is everything.  And I’m going to make you wait until after the jump for it. You won’t even be mad, it’s just that good. With three bedrooms and two bathrooms, 3939 Van Ness Lane is listed by Justin Farmer with Briggs Freeman Sotheby’s International Realty at $615,000.

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The Mansion Park area is one of those neighborhoods chock-full of great properties, and these townhomes are a perfect example of how you can get into a fabulous neighborhood for a less-than-exorbitant price. While these Bud Oglesby-designed, midcentury modern townhomes look pitch perfect from the curb, 2812 Welborn St., another amazing listing from Ebby Halliday top-performer Dennis Hammet, truly does this design justice.

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Less than half of Dallas-Fort Worth residents can afford new homes in the region, according to the Dallas Builders Association.

Recent data from the Real Estate Center at Texas A&M University paints a pretty bleak picture for housing affordability in the Dallas-Fort Worth area. More than 100,000 new jobs regionwide netted just 30,000 new homes by the end of last year, according to stats from Meyers Research and the Dallas Builders Association. The median home price, thanks to the scarcity of new builds, jumped from $149,900 in 2011 to $232,000 in 2016. 

The end of the affordable new home is nigh, it seems. 

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Homes in historic Dallas neighborhoods are selling like hotcakes, mostly for the reason they were preserved in the first place: character. These areas fit a human scale that has long since been rendered incompatible with modernity, but still, that comfortable nostalgia makes them all the more desirable. 

And while East Dallas is already phenomenally popular, the Vickery Place area is coveted even more so, thanks to its prime location near Greenville Avenue, it’s fantastic proximity to downtown Dallas, and the walkable nature of this neighborhood, originally platted in 1891. What’s really great is all of the investment happening here now, with families buying up homes and taking the time and care to bring them up to today’s standards. An absolutely stellar example of this is the beautiful one-story Craftsman bungalow at 5417 Willis Ave.

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On average, the North Texas labor shortage is adding two months and $4,000 to the cost of every home.

By Phil Crone
Executive Officer, Dallas Builders Association

“The guest worker program unnecessarily lowers construction worker wages.”

“Put simply, there is no construction labor shortage.”

“It’s five o’clock somewhere. And maybe there’s a construction worker shortage, too, somewhere. But it’s not significant in the U.S., and it’s not very widespread.”

Would you believe that all of these are recent quotes from organizations involved in the construction industry? Believe it or not, they were recently published in Illinois and Michigan. I share them because I want to illustrate the labor demand difference between the laggers and leaders of our nation’s economy. It also demonstrates the uphill battle that looms for any type of legislative fix for immigration and long-term cure to our labor shortage.

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ribbon cutting

Ribbon Cutting for the new playground at Griggs Park. Nolan Marshall stands with Katy Slade, Philip Kingston, Paul Simms and his daughter.

“Griggs Park is one of the features that makes Uptown more sustainable. Uptown has a tendency to over-invest in private infrastructure and under-invest in public infrastructure,”noted District 14 Dallas City Councilman Philip Kingston at the Tuesday ribbon cutting of Griggs Park’s new playground. “This will soften the hard edges that tend to be created in high-density neighborhoods.” 

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