From the monthly archives: September 2010

Home builder confidence held firm this month, according to the National Association of Home Builders’ monthly Housing Market Index. September’s reading of 13 equaled a 17-month low.

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Home builder confidence held firm this month, according to the National Association of Home Builders’ monthly Housing Market Index. September’s reading of 13 equaled a 17-month low.

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It’s now 17 consecutive months where Case-Shiller shows that home values are rising across the United States.

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Home values “crept forward” in July. But not that it matters — the Case-Shiller Index is a better tool for economists than it is for homeowners. There’s 3 reasons why.

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Aside from builder incentives and the naturally stronger negotiating position for today’s buyer, the fact that mortgage rates are down 0.75% since the beginning of the year. Homes were already more affordable just with the dip in prices, but coupled with mortgage rates we’re now we’re nearly off the chart.

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The August New Home Sales was weaker-than-expected, but both Wall Street investors and Main Street economists are shrugging it off. The numbers were foreshadowed by weakening housing figures from earlier this summer.

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Interest Rate Predictions: Mortgage rates improved last week in a…you guessed it…volatile week. This week should be even more volatile.

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In back-and-forth trading last week, conforming mortgage rates bottomed out Wednesday before rising through Friday’s afternoon close. This week should be even more volatile.

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Sales of existing homes in recovered in August, perhaps the result of a post-tax credit normalization.

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In Chicago, our housing market isn’t influenced by those big builders as much as it is by the differences between neighborhoods. For data like that, no one has better access that your real estate agent.

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