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...
Housing Analysis
What’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...
Home 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....
RealtyTrac 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...
What’s Ahead For Mortgage Rates This Week – June 17, 2013
Last week's news was relatively quiet with no data significant to the mortgage lending released until Wednesday, when the federal government announced a $138 billion budget deficit for May. According to the U.S. Treasury this figure is 11 percent higher than for May...
What’s Ahead For Mortgage Rates This Week — June 10, 2013
Last week's economic reports provided a mixed bag of results. On Monday, the Department of Commerce reported that construction spending increased by 0.40 percent in April and fell shy of the expected reading of 1.0 percent, but exceeded the March reading of -0.80...
What’s Ahead For Mortgage Rates This Week — June 3, 2013
Last week’s financial news was relatively limited due to the Memorial Day holiday and no economic reports being released on Wednesday. The biggest news in terms of housing and mortgages was the S&P/Case-Shiller Housing Market Indices (HMI) released on...
Case-Shiller Reports Energetic Annual Home Price Gains Nationally
The most recent S&P/Case-Shiller Index showed all three composites posting double-digit increases over the last four quarters. The national composite, which is the broadest based index, showed an increase of 10.2% annually. The 20-City composite posted even...
Existing Home Sales Numbers Highest Since 2009
The National Association of REALTORS reported that sales of existing homes in April reached 4.97 million on a seasonally-adjusted annual basis. Although this reading fell short of Wall Street's expectations of 5.00 million existing homes sold, it surpassed the March...
Home Builder Future Sales Confidence Rises To New Highs
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. The reading for May's National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI)...