The National Association of REALTORS reported Wednesday that pending sales of existing homes fell by 1.30 percent in July. According to the organizationâs Pending Home Sales Index, this was the second straight month that pending home sales dropped. Julyâs Pending Home Sales Index reading was 109.50. Continue reading
The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI) rose in July. Continue reading
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. Continue reading
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. Continue reading
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. Continue reading
Home builders are gaining confidence in current and future market conditions for new homes, but continue to see below-average foot traffic in new homes. Continue reading
According to the the latest Foreclosure Inventory Analysis showed nearly 1.5 million properties were currently in the foreclosure process or being held by banks as Real Estate Owned.
This was up 9 percent from the first quarter of 2012, but down significantly from the apex of foreclosure activity — 2.2 million units — in December 2010. Continue reading
The National Association of REALTORSÂ® released its Existing Home Sales report for March on Monday.
Sales dipped from Februaryâs seasonally adjusted annual rate of 4.95 million to 4.92 million existing homes sold in March, a decrease of 0.6 percent month-to-month. Continue reading
Existing home sales have increased by 10.2 percent as compared to 4.52 million existing home sales for February 2012, and have increased for 20 consecutive months. Read more… Continue reading
The National Association of Home Builders (NAHB) released its NAHB/Wells Fargo Housing Market Index for March on Monday. Home builder confidence fell for the third consecutive month with a two-point drop to a reading of 44 in March. Continue reading