|
| |
the fed: New Home Sales, Mortgage Rates, and the $1.25 Trillion Dollar Question - 08/29/09 07:39 AM
According to the Census Bureau, new home sales jumped 9.6% from June to July to a seasonally adjusted annual rate of 433,000.
This is the highest rate of home sales since August of 2008. However, new home sales are still down -13.4% from last July.
The inventory of unsold new homes fell -3.2% from last month to 271,000 and is down -35.3% from last year. This is a massive improvement and as a result, the month's supply of housing fell to a 7.5 month supply.
There are all positive indicators for the new home market. As new homes are built, jobs are created, … (2 comments)
|
the fed: NAR: Housing Affordability Falls To A 6-Month Low - 08/05/09 08:44 AM
According to the NAR, housing affordability fell again in June to a reading of 159.2. This is the lowest reading since December when we saw 159.1.
The decline in housing affordability is due to a trend of rising mortgage rates, an increase in the median home value which is driven by seasonal variances, and a decline in median family income to the lowest point in over a year.
What may come as a surprise to many though is that despite this fall in housing affordability, pending home sales were the strongest they have been in over a year in June.
The evidence … (4 comments)
|
the fed: Mortgage Purchase Applications Hold Steady - 06/10/09 09:29 AM
According to the Mortgage Bankers Association and their weekly survey of applications, mortgage purchase applications are holding steady despite a recent surge in mortgage rates.
The purchase application index rose 1.1% from last week to 270.7 despite the 30-year fixed rate mortgage surging from 5.25% to 5.57%.
Not that anybody should be surprised by this "resilience" as there has been virtually no stimulative impact on demand for mortgage purchase applications or demand for real estate as rates plunged to historic lows.
Here is a comparison between NAR's seasonally adjusted existing home sales and Freddie Mac's 30-year fixed rate mortgage survey over the past several months:
Sep … (4 comments)
|
|
|
|
|
|
Mark MacKenzie
Phoenix,
AZ
More about me…
Mark MacKenzie Real Estate Planning
Office Phone: (480) 600-0330
Email Me
 Links
Archives
|
|
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2012 ActiveRain Corp. All Rights Reserved
;)
;)