http://www.myprospectmortgage.com/NRezvan/article.asp?articleID=1438

Pending home sales, a forward-looking indicator based on signed contracts, rose 2% in January after a revised 1.9% decrease in December. It was the highest reading since April 2010. On a year-over-year basis, pending home sales are up 8%.

Orders for durable goods — items expected to last three or more years — fell $8.6 billion or 4% to $206.1 billion in January. Economists had anticipated a 0.7% decrease. This follows a 3.2% increase in December. Excluding volatile transportation-related goods, orders posted a monthly decrease of 3.2%.

The Standard & Poor's/Case-Shiller 20-city housing price index — on a non-seasonally adjusted basis — fell 1.1% in December after a 1.3% decrease in November. On a year-over-year basis, prices fell 4% compared with December 2010.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending February 24 fell 0.3%. Refinancing applications decreased 2.2%. Purchase volume rose 8.2%.

The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at a revised annual rate of 3% in the fourth quarter of 2011, compared to the initial estimate of 2.8%. This follows a 1.8% pace of growth in the third quarter of 2011.

Total construction spending fell 0.1% to $827 billion in January from a revised $827.6 billion in December. Economists had anticipated an increase of 1% in January. Compared to a year ago, construction spending rose 7.1%.

Initial claims for unemployment benefits for the week ending February 25 fell by 2,000 to 351,000, the lowest level since March 2008. Continuing claims for the week ending February 18 fell by 2,000 to 3.402 million.

Upcoming on the economic calendar are reports on factory orders on March 5 and international trade on March 9.

http://www.myprospectmortgage.com/NRezvan/article.asp?articleID=1438

 

 

Nima's new office opens in Stamford, Connecticut
06/05/2011
share
I would like to announce to everyone that my new office in Stamford, Connecticut is open. Please update your contact information for me: Nima Rezvan Loan Officer NMLS#: 110681 Prospect Mortgage 68 Southfield Avenue Suite 170 2… more
FHA Loans Announcement: Increase in upfront premiums for FHA mortgage…
01/29/2010
share
FHA UPDATE FHA UPDATE On January 21, 2010; the federal housing commissioner announced news about the increase in upfront premiums for FHA mortgage insurance. Effective for FHA loans for which the case number is assigned on or after April 5, 2010,… more
Today's Employment Report Disappoints as US Economy Sheds 85, 000 Jobs…
01/08/2010
share
The unemployment report which I saw on CNBC stated that the US economy lost 85, 000 jobs in the month of December which could mean the mortgage interest rates could come down a bit from their existing positions. The mortgage interest rates have… more
Healthy Alternatives to Asbestos a Priority for Connecticut Home…
05/06/2009
share
Healthy Alternatives to Asbestos a Priority for Connecticut Home Owners Used in millions of homes and buildings built prior to 1980, many civilians are still being exposed to asbestos in public facilities, restaurants, schools, shipyards and… more
How do I know if this Condo Complex is FHA Approved? Click on FHA…
04/20/2009
share
Dear Realtors and Consumers Are you always wondering if a certain condo complex is FHA approved or not? Do you find yourself having to contact the listing agent and asking them if it is and sometimes they don't know? Wouldn't it be better if I… more
Home Loan Highlights: FHA 203k, FHA Streamline 203k, Fannie Mae…
04/19/2009
share
CT Mortgage - Renovation Home Loan Highlights FHA 203k FHA Streamline 203k Fannie Mae HomeStyle EasyBuild Renovation Owner Occupied only, 1-4 Family, Mixed-use Owner Occupied only, 1-4 Family.. more
Largest REO Directory List: Bank Owned Properties - Foreclosures -…
04/18/2009
share
REO - Bank Owned Properties - Foreclosures - Real Estate Owned (scroll down below to see how you can view different REO - Foreclosures - Bank Owned Properties by most nationwide banks) Save this blog as your favorite because you will come… more
Understanding the FHA 203k STREAMLINE
04/13/2009
share
CT FHA 203k Streamline Rehab Loan Being a mortgage professional since 2002 and I can be honest with you in saying that the hottest inquired about home loan in recent days has been the FHA 203k Streamline I'm posting this blog today so that… more
CT REO, CT Foreclosures, CT Bank Owned Properties - FREE WEEKLY LIST
04/09/2009
share
Click for FREE FORECLOSURE LIST Dear Reader, For the passed 18 months I've been sending out a free weekly CT foreclosure list. If you would like to see these CT bank owned properties then please simply email me at: Nima@concorde. bz with your… more