Mortgage activity continues to slow slightly, falling for the sixth consecutive week. According to the Mortgage Bankers Association, mortgage activity dropped 1.2% last week while interest rates also fell. The average 30-year, fixed rate conforming loans fell around 0.10% while the points for 30-year, fixed rate loans slid down from 0.42 to 0.4. Jumbo loan ... MORE
Theresa Springer’s Blog
The National Association of Realtors’ Pending Home Sales Index is a forward-looking indicator that measures the number of signed contracts that occur each month. In July, the index rose 2.4 percent, reaching a two-year high and climbing 12.4 percent over year-before levels. Lawrence Yun, NAR’s chief economist, said the index is now at its highest ... MORE
Speaking at an economic conference in Washington, Shaun Donovan, secretary of the Department of Housing and Urban Development, said the housing market has turned a corner. Donovan cited sales statistics, the number of signed contracts, and the decreasing number of households falling into foreclosure as evidence that the market has made progress over the past ... MORE
A number of factors have experts and industry insiders expecting a strong spring-selling season this year. Nearly half of all home sales happen during the months of April, May, June, and July and this year, with the economy and job market showing signs of growth, the sales season is expected to be better than it ... MORE
According to The National Association of Realtors, pending home sales, which reflect signed contracts and not closings, fell 4.6 percent in September, though they remain higher than a year ago. Compared to September 2010, pending sales are up 6.4 percent. Lawrence Yun, NAR’s chief economist, said there continues to be weakness in consumer confidence, despite ... MORE
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