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Home Construction Hits Highest Level In Months
In May, single-family home construction increased 3.7 percent above the U.S. Census Bureau and Department of Housing and Urban Development's April estimate. Total housing starts gained 3.5 percent. The improvement brought new-home construction to its highest level in...
Low Mortgage Rates Drive Surge In Loan Demand
According to the Mortgage Bankers Association's Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell to 4.51 percent last week from 4.54 percent the week before. The drop in rates fueled a 13.0 percent surge in the...
Industry Group Expects Economic Gains In 2nd Half of 2011
In their most-recent monthly economic and mortgage finance commentary, the Mortgage Bankers Association says that, though the recovery has been uneven so far this year, they expect growth to pick up in the second half of 2011. The report says the MBA expects economic...
Prospective Buyers Optimistic About Homeownership
Though concerned about their personal finances and the broader economy, Americans overwhelmingly believe now is a good time to buy a home. According to a recent survey of current and aspiring homebuyers in key world markets, Americans are the most optimistic about...
Government Scorecard Details Housing Recovery Data
The U.S. Department of Housing and Urban Development and the U.S. Department of Treasury released their May Housing Scorecard, which highlights key market indicators and the Administration's housing recovery efforts. According to the report, the housing market remains...
Home Price Index Finds Signs Of Stability
Home price indexes tend to be heavily influenced by foreclosure and distressed property sales. Which means the higher the percentage of distressed sales, the more prices will appear to fall. According to CoreLogic's home price index, however, housing values increased...
Mortgage Rates Hit 2011 Low
According to the Mortgage Bankers Association's Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell to 4.54 percent last week from 4.58 percent the week before. This is the lowest 30-year contract rate since November...
Home Buyers Have Historic Opportunity In Today’s Market
Though short-term prospects are muddied by the ups-and-downs of a recovering market, home buyers have an opportunity to capitalize on a long-term outlook that is increasingly positive. Buyers in today's market benefit from mortgage rates near 50-year lows, high...
Housing Market, Economy To See Improvement Despite Disappointing Data
A recent wave of disappointing economic reports signals nothing more than a temporary soft patch and isn't a sign of a more sustained downturn say economists at Barclays Capital. Barclays believes the economy is suffering due to concerns over inflation driven by a...
Housing Market Analysis Finds Encouragement in History, Recent Data
Despite recent volatility, the housing market is approaching a new cycle that should bring an uptick in prices, according to a recent presentation from Altos Research. Scott Sambucci, vice president of market analytics at Altos, said he and his team believe there is...