Housing Analysis
Home Builder Confidence Rises To Highest Level Since January 2006
The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI) rose in July.
Read MoreWhat’s Ahead For Mortgage Rates This Week – July 15, 2013
The Fed’s release of the minutes for the June FOMC meeting was the most noteworthy economic event last week; the minutes repeated the Fed’s recent statement concerning the wind-down of its current monetary easing policy.
Read MoreIs It Possible That Your Gender May Influence Your Home Mortgage Approval?
If you are applying for a joint mortgage on your property with your spouse or partner, the name that goes first could have more of an impact than you might think.
Read MoreWhat’s Ahead For Mortgage Rates This Week – July 8, 2013
Last week saw a relatively quiet week due to the 4th of July holiday, but there were some housing-related developments.
Read MoreWhat’s Ahead For Mortgage Rates This Week – July 1, 2013
The past week was active for economic news and mortgage rates. The aftermath of the Fed’s indication that it may start dialing back its multi-billion dollar monthly purchases of Treasury and mortgage backed securities has sent mortgage rates to record highs.
Read MoreHome Prices Record Highest Monthly Gains Since Case Shiller Index Inception
The S&P Case-Shiller Home Price Indices for April indicate that the housing recovery gained ground.
In April 2013 average home prices tracked in the Case-Shiller 10 and 20-city Composites increased by 11.60 and 12.10 percent year-over-year. On a month-to-month basis, the Composites increased by 2.60 and 2.50 percent respectively.
Read MoreWhat’s Ahead For Mortgage Rates This Week – June 24, 2013
Comments by Fed chairman Ben Bernanke after Wednesday’s FOMC meeting caused havoc in financial markets as investors anticipated the potential effects of any rollback of the Fed’s policy of quantitative easing (QE). Chairman Bernanke said that the Fed may begin reducing its $85 billion monthly purchase of Treasury securities and MBS toward the end of this year.
Read MoreHome Builder Confidence Jumps By Widest Margin Since 2002
U.S. housing markets are gaining as demand for homes exceeds available supplies in many areas. The National Association of Home Builders/ Wells Fargo Housing Market Index (HMI) for June increased by eight points over May’s reading to achieve a positive reading of 52. This last happened in August-September of 2002, when HMI monthly readings also jumped by eight points.
Read MoreRealtyTrac Foreclosure Report Shows 28% Decrease From May 2012
Foreclosure actions increased by 2.0 percent in May from April’s 75 month low point for foreclosure activity according to RealtyTrac’s U.S. Foreclosure Market Report released June 11.
However, the good news is that May 2013 foreclosure filings were still 28 percent below May 2012 filings.
Read MoreWhat’s Ahead For Mortgage Rates This Week – June 17, 2013
Last week’s news was relatively quiet with no data significant to real estate and mortgage lending released until Wednesday, when the federal government announced a $138 billion budget deficit for May.
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