Dec 30
The Case-Shiller Index posted awful numbers in its most recent reading. Each of the index’s 20 tracked markets showed home price deterioration between September’s and October’s respective report. Some markets fell as much as 2.9 percent.
The drop in values is nothing about which to panic, however…
Dec 29
With 2010 coming to a close, the “experts” are out in full force, making predictions for next year’s housing and mortgage markets on business television and in the papers. Predictions for 2011 are wide-ranging, including…
Dec 28
Like most housing data in November, the most recent New Home Sales report showed sales volume increasing last month, and home supplies falling. According to the U.S. Department of Commerce, sales of new, single-family homes increased to 290,000 in November on an annual basis, a figure equal to the New Home Sales 6-month rolling average, and a 6 percent improvement from October. At the current pace of sales, the national supply…
Dec 27
Mortgage markets worsened again last week as the holiday-shortened sessions did little to buck recent momentum. Although Freddie Mac reported mortgage rates dropping 0.02% from the week prior, loan officers on the street will report the opposite. Rates did not fall last week. Conforming mortgage rates in Idaho moved higher for 7th straight week…
Dec 23
Existing Home Sales jumped another 6 percent in November, the report’s third month of improvement since bottoming in July.
According to the National Association of REALTORS®, a quarter-million…
Dec 22
The number of single-family Housing Starts increased in November, adding 30,000 units as compared to October. The Census Bureau defines a “housing start” as a home on which construction has started. November’s starts represents a 7 percent increase from the month prior. However, the press is calling the market gain at 4 percent. So which number is correct? The answer is…
Dec 21
According to foreclosure-tracking firm RealtyTrac, the foreclosure filings fell 21 percent in November to 262,339 units nationwide. A foreclosure filing is defined as default notice, scheduled auction, or bank repossession.
November marked the first time since February 2009 that the number of monthly filings failed to surpass 300,000 units.
There were other notable November statistics, too, including…
Dec 20
Mortgage markets risen again last week as strong belief in a U.S. recovery and concerns for inflation took hold on Wall Street. Conforming mortgage rates rose in Idaho for the 6th straight week. Real mortgage rates — mortgage rates available to everyday homeowners and buyers in Idaho are up by as much as…
Dec 17
Home builder confidence is holding firm this month, according to the National Association of Home Builders.
The group’s monthly Housing Market Index survey posted 16 for December. That’s the same value as from November. It’s also equal to this 2010′s average HMI reading.
HMI is scored on a scale of 1-100, and is a composite of…
Dec 16
Loan-level pricing adjustments are mandatory loan fees based on a borrower’s specific default risk.