The Mid Week Report on Housing

By
Mortgage and Lending with Gateway Funding NMLS#133257

Now what’s ahead for housing? Lower debt to income ratios come January 10th along with some newer tougher guidelines.

With housing having been the biggest driver in pushing the economy forward over the past year or more the events of this week at the mid week report are discouraging to me. First at the beginning of the week as we were flirting with DOW 16,000 the housing market index (AKA Builders Confidence) was again above 50 at 54 but the 4th straight month of no gain. The traffic was also a low number at 42. The report does warn that activity is being held down with low appraisals. Today’s existing home sale report did not do a lot to help the equation. The report showed that sales were down 3.2% in October. The only positive part of the report is that median prices were up .5% to $199,500. The report blames higher mortgage rates and a slow job market.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Tags:
existing home sales
housing market index
real estate

Spam prevention
Show All Comments
Rainer
10,534
Dalia Kibby
Cooper City, FL
Your Trusted Realty Professional

The biggest concern I feel is the tougher mortgage loan guidelines coming down the road.  Buyers already have so many issues with financing.

Nov 20, 2013 02:47 AM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
212,997

Peter Buchsbaum

A relationship you can trust is an investment we a
How much house does your current rent get you?
*
*
*
*