First Time Home Buyers
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According to the most recent Case-Shiller Index from S&P, home values rose 5 percent in June versus the prior month. This also puts us up 4% from a year ago. This now marks 16 months in a row in which the index has shown an increase in home values and marks a third consecutive month of very strong results.
Continue Reading →Home buyers today have timed it right.
Yesterday’s post addressed the fact that home loan approvals are getting easier. (Full Article: Home Loan Approvals Getting Easier ) Mortgage rates are at their lowest levels in history. Home prices, while recovering, still sit well below their April 2007 highs.
Continue Reading →We watch consumer confidence because the readings are presumed to be indicative of the entire economy. High confidence leads to higher spending, higher spending leads to economic growth, economic growth leads to higher mortgage rates.
Continue Reading →1. 13 of the 20 tracked cities are showing home price improvement year-over-year
2. Former foreclosure-leader, San Diego, has now shown 13 straight months of improvement
3. San Diego, San Francisco and Minneapolis are showing double-digit annual growth
As a Chicago mortgage lender, I don’t mind the cities on Case-Shiller’s list, but it is only 20 cities. It does nothing to help forecast the price of your lake home in southwest Michigan.
Continue Reading →A recap of yesterday’s weekly Mortgage Rate Predictions: High confidence = good economy = worse mortgage rates.
Well, confidence surged, yielding the highest reading in 34 months. Just think about that, for nearly three years we’ve been looking at monthly readings that have averaged below a 50% reading.
Continue Reading →As expected, Existing Home Sales jumped last month as March revealed 7% more closings versus February.
The year over year figure shows that sales volume was up over 16%.
“Existing home sale” includes those homes that have previously been inhabited. The opposite is a “new home sale” which has yet to be occupied.
The data [...]
Continue Reading →Exactly as expected, Pending Home Sales jumped in February. This is likely to be one of three consecutive very hot marks in a row.
We’re up 8% over January’s figure and right in line with the countdown to the end of last year’s first time home buyer tax credit.
This is big news. A “pending [...]
Continue Reading →S&P released its Case-Shiller Index today.
Continue Reading →As expected, home values dropped a small amount in January, just 0.6% on average, according to the Federal Home Finance Agency’s Home Price Index (HPI).
It’s “on average” because the HPI is a national report.
Continue Reading →