After posting a strong September, the number of newly-built homes sold nationwide slipped in October.
Monthly Archive: November 2010
In a holiday-shortened week on Wall Street, mortgage markets improved on 3 of 4 days, but still posted its fourth consecutive losing week.
Bond markets have not taken kindly to the Fed Minutes. The minutes show a propensity toward Fed “action”, most of which markets believe to be inflationary. Inflation leads to higher mortgage rates and that’s exactly what we’ve seen.
It’s encouraging that first-time and investment property buyers were both outnumbered by “move-up” buyers in October; buyers that have sold their respective homes in favor of larger ones.
Shoppers should think twice about is the popular “Open A Charge Card, Save 20%” promotion. The short-term savings may be tempting, but the long-term costs may be huge.
The U.S. mortgage delinquency rate declined last quarter as the employment picture brightened. The Mortgage Bankers Association reported that the rate of delinquency on single-family homes for the third quarter fell 0.72% from the previous quarter for a reading of of just 9.13%. The media coverage of the housing market would lead most to assume …
The 7-month rally in rates may be nearing its end. The 30-year fixed rate mortgage is at a 4-month high after reaching an all-time low just 3 weeks ago.
With the sudden rise in mortgage rates, we have to question whether the Refi Boom is ending.
Newspaper stories can be misleading sometimes — especially with respect to real estate. We saw a terrific example of this Wednesday.
According to the National Association of Home Builders/Wells Fargo Housing Market Index, a combination of shrinking new home inventory plus higher-quality foot traffic is boosting builder optimism.