Archive for the ‘Housing’ Category

Residential Construction Slogs Along

The Census Bureau issued a downbeat report on monthly housing starts today. BUILDING PERMITS Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 911,000. This is 7.5 percent (±1.0%) below the revised May rate of 985,000, but is 16.1 percent (±1.7%) above the June 2012 estimate of [...]

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ARM Revival

Diana Olick notes that borrowers seem to be turning to ARMs as interest rates move up. After hovering around record lows for the past few years, mortgage rates are rising dramatically. That has consumers not only shopping more but also considering adjustable rate mortgages, which offer lower rates and lower monthly payments. Unfortunately she only [...]

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Why Is New Home Construction Lagging?

This is what the National Association of Home Builders said yesterday: June 17, 2013 - Builder confidence in the market for newly-built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Any reading over 50 [...]

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FHA On The Ropes

    Since we’ve already ponied up about $140 billion keeping Frannie afloat, the news that FHA most probably is going to need at least $13   billion to maintain a minimum amount of solvency probably makes you shrug and note it’s just chump change. Keep in mind that once upon a time, a central [...]

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Some Rays Of Sunshine For Homebuilders

Last month I put up a post  about the Phoenix housing market and what appeared to be some revival of “animal spirits”. I was pretty tempered in my enthusiasm even though the report from Arizona State University’s business school was on the bullish side. Their report for March (the previous report covered February) is out [...]

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Signs Life In Phoenix Housing

What’s going on with Phoenix real estate. If you believe the realtor hype prices are going through the roof, supply is practically non-existent and buyers are trying to shove competitors aside to get what homes are available. As you might suspect the truth is a bit more nuanced. To get some perspective on the market [...]

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Speeding Up Foreclosures

An interesting take on recent foreclosure activity from Diana Olick: As regulators and law enforcers battle this out, banks are ramping up foreclosures with increasing speed. A new report from ForeclosureRadar, which measures some of the most distressed markets out West, shows a big jump in March foreclosure sales, the final stage of foreclosure. Total [...]

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