Pending-Home Prices
By Krista Franks Brock | 05/09/2012
Noting some recent strengthening in demand in the housing market, Capital Economics suggests housing prices "are close to, or already through, their trough," and recovery will continue through the coming months. While acknowledging the decline in home sales in March, Capital Economics’ analysts remain optimistic due to the recent increases in pending home sales. The National Association of Realtors' latest Pending Home Sales Index in March reached 101.4, its highest level since April 2010. Recent data on mortgage applications also point toward a strengthening market.
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By Ryan Schuette | 01/13/2012
The economy will drift upward in 2012 as incremental changes take place in the housing market, with a divisive and uncertain policy environment the darkest cloud on the horizon, Fannie Mae said in an economic outlook Friday. Doug Duncan, VP and chief economist with Fannie, offered up the outlook from the GSE's Economics and Mortgage Analysis Group. Fannie Mae said that total home sales could hit 4.7 million in 2012, reflecting a 3.5-percent boost from total sales, new and existing, last year. The forecast said that home sales could reach as many as 5 million come 2013.
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By Ryan Schuette | 01/05/2012
Uncertainty in the markets helped ring in the New Year with record lows for mortgage rates, as concerns over debt crises and job growth lingered for wary investors. Finance Web site Bankrate.com and mortgage company Freddie Mac released their findings for mortgage rates Thursday in two separate weekly surveys. Bankrate.com reported interest rates for the 30-year loan hitting a record 4.18 percent this week, down from 4.21 percent last week. Freddie likewise found rates for the 30-year fixed-rate mortgage sliding from 3.95 percent last week to 3.91 percent this week.
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By Ryan Schuette | 11/29/2011
Home prices drifted lower over the third quarter this year, falling year-over-year by 3.9 percent, according to Standard & Poor’s Case-Shiller Index. The figures inched forward by only 0.1 percent from last month, with the modest pickup reflecting a 5.8-percent improvement from figures seen for home prices over the second quarter. The numbers beat forecasts for a 3.0-percent slide back from the 20-city composite. Fourteen of 20 cities fell in a southerly direction over September 2011, with figures for home prices in Atlanta, Las Vegas, and others sliding.
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By Ryan Schuette | 11/22/2011
Under a final rule, banks with $50 billion or more in assets will need to submit capital plans to the Federal Reserve, which will also begin performing stress tests for the largest financial institutions next year. In accordance with the rule, the Fed will take responsibility for annual evaluations of each institution’s capital adequacy, internal assessment processes, and capital distribution plans, including dividend payments and stock repurchases.
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By Ryan Schuette | 11/21/2011
Mortgage giant Freddie Mac tied weak homebuyer demand to a drop in consumer expenditures in an outlook it released Monday. The GSE captured a look at the financial mood of consumers by releasing the U.S. Economic and Housing Market Outlook, which makes forecasts according to key economic indicators that it uses. The outlook indexed overall economic health for the nation, finding a small uptick by domestic aggregate demand as it climbed to 3.6 percent – the second largest gain over the last five years.
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By Ryan Schuette | 11/21/2011
Low-balling appraisals, job loss, and denials for mortgage applications helped scuttle closed contracts over October, which advanced 13.5 percent.
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By Ryan Schuette | 11/14/2011
Closely following figures from a market peak in 2006, home prices across the country trailed south by 3.8 percent year-over-year in August, according to a recent home price index. Lender Processing Services reported findings from a home price index that connected the dots from 13,500 ZIP codes, which it gauged on five qualitative levels. LPS valued total U.S. housing inventory at $10.6 trillion at the peak of the crisis – a number that now stands at $7.65 trillion by the end of August this year.
The price declines follow similar data reported by CoreLogic in September.
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By Ryan Schuette | 11/11/2011
Today’s record-low mortgage rates and southerly home sales will post gains into next year, according to the economist with one trade group. Lawrence Yun, chief economist with the National Association of Realtors, predicted at the 2011 Realtors Conference and Expo that home sales and existing-home sales would rise, along with mortgage rates. He said that GDP would climb from a 1.8-percent slump to 2.2 percent over next year, as job growth marches toward 2.2 million and the unemployment rate falls to 8.7 percent.
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By Ryan Schuette | 11/09/2011
Existing-home prices sagged in most metropolitan areas over the third quarter, pointing to a soft spot in job security for people across the country as home affordability hovers around record highs. A quarterly report by the National Association of Realtors revealed that more than two-thirds of all metropolitan areas suffered plunges in home prices from last year. The NAR found state existing-home sales falling by 0.1 percent to crest at a seasonally adjusted 4.9 million over the third quarter. First-time buyers bought up 32 percent of homes.
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