Housing Starts Spike 9% Since Last Month

July 20, 2011

Builders are busy once again. According to the Census Bureau, Single-Family Housing Starts rose to 453,000 on a seasonally-adjusted, annualized basis in June — a 9 percent spike from the month prior and the highest reading in 3 seasons.

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Mortgage Rates are Low but Remain Volatile

July 19, 2011

A Rise in Rates Could be Permanent Other factors in mortgage rates this week include the Existing Home Sales report; Housing Starts data; Homebuilder Confidence Survey; and, Jobless Claims. Mortgage rates are low but remain volatile. If you’re wondering whether now is a good time to lock your rate, consider that it’s better to be […]

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Builders Expect A Strong Fall Season This Year

July 19, 2011

Homebuilder confidence is bouncing back. One month after an unceremonious dip highlighted by poor sales figures and dim prospects for the future, the National Association of Homebuilder’s Housing Market Index rebounded two points to 15 in July.

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World News Continued to Show Influence on Mortgage Rates Last Week

July 18, 2011

Mortgage markets worsened last week as concerns for the global economy drove new rounds of “safe haven” buying.

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Retail Sales are Up For the 12th Straight Month

July 15, 2011

The American Consumer will not be deterred. Despite worsening jobless figures and an increase in the Cost of Living, Retail Sales are climbing.

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Foreclosure Filings Continue to Fall Across the U.S.

July 14, 2011

According to foreclosure-tracking firm RealtyTrac, the number of foreclosure filings dropped 29 percent nationwide on an annual basis in June.

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Fed Minutes Hint At New Economic Stimulus

July 13, 2011

The Federal Reserve released its June 2011 Federal Open Market Committee meeting minutes Tuesday. It contained no surprises.

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This Week’s News Could Move Rates in Either Direction

July 12, 2011

Here’s What is Taking Place: Tuesday : FOMC Minutes Wednesday : 10-Year Treasury Auction Thursday : PPI; 30-Year Treasury Auction; Jobless Claims Friday : CPI; Consumer Sentiment If you’re still floating a mortgage rate, today marks a good week to lock. Mortgage rates could fall this week and next, but there’s more room for rates […]

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What Is Annual Percentage Rate (APR)?

July 12, 2011

More commonly called APR, Annual Percentage Rate is a government-mandated mortgage comparison tool. It measures the total cost of borrowing over the life of a loan into dollars-and-cents.

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Rate Shoppers Won the Roller Coaster Market Last Week

July 11, 2011

Mortgage markets improved in roller coaster-like trading last week. And, not surprisingly, the week’s two big stories were the same two stories roiling mortgage markets since March — Greece and Jobs.

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