Home Builder Confidence

Home builder confidence remained at high levels in January after December registered an 18-year high: this signals housing demand should continue to grow in 2018. The National Association of Home Builders reports that its Housing Market Index came in at 72 this month, after the 74 reported in December. A strong labor market, low mortgage […]

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Home Price Index

The March S&P Case-Shiller 20-city Home Price Index came in at +5.9% year-over-year. The 5.9% matched February’s reading and is the biggest gain since July 2014. From February to March, prices were up 0.9%. Lean inventories of homes for sales are the catalyst behind the rise. The national index increased 5.9%. “If mortgage rates, currently […]

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January Existing Home Sales at 10-year highs

Wednesday – February 22 The National Association of REALTORS® reported on Wednesday that Existing Home Sales in January surged by 5.69 million annualized units. This was up 3.3% from December to highs not seen since February 2007 (5.79 million). All major regions across the nation saw gains, with the exception of the Midwest. The median […]

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News

Monday- February 13, 2017 After hitting a 10-year high in January, Consumer Sentiment declined in early February, which was centered around the expectations index. However, confidence remains quite favorable, with only five higher readings in the past decade. The preliminary February University of Michigan Consumer Sentiment Index fell to 95.7 from the final reading of […]

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NEWS

Thursday – February 9 Mortgage rates edged lower in the latest week and have been essentially unchanged in the last three weeks due to mixed economic data and the uncertainty surrounding the new administration’s fiscal policies. The 30-year fixed conventional mortgage rate ($424,000 or less) slipped to 4.17% this week from 4.19% with 0.4 in […]

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News

Tuesday – January 31 The S&P/Case-Shiller 20-city Index rose by 5.3% from November 2015 to November 2016, up from October’s annual increase of 5.1%. Within the index it showed big gains in Seattle, Portland and Denver. A spokesperson for Case-Shiller said that housing has recovered from the boom-bust cycle that began a dozen years ago. […]

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News

In a historic referendum, the United Kingdom (UK) voted to leave the European Union with 52% voting to leave and 48% voting to stay late last night. The news sent shockwaves thoughtout global financial markets, while the U.K.’s gilt hit a 30-year low. Here in the U.S., the Dow Jones Industrial Average plunged 500 points, […]

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News

The low interest rate environment here in the U.S. will most likely be around for some time to come in 2016, according to Fed Chair Janet Yellen. Ms. Yellen was in Philadelphia yesterday speaking on the U.S. economic outlook and monetary policy. Ms. Yellen said that a hike to the short-term Fed Funds Rate won’t […]

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News

  Some Highlights: Both New Home Sales and Existing Home Sales are up month-over-month and year-over-year. Inventory remains low which continues to drive home prices up as demand continues to exceed the 4.7-month inventory. The median price of new homes is up 12% from March 2015, while the median price of existing homes is up […]

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News

April Housing Starts sprung higher in the latest numbers signaling the economy could be reigniting in the second quarter of 2016. The April Consumer Price Index (CPI) rose at its fastest rate since February 2013, due to higher gasoline prices and rising rents. Speaking at a conference in New York City this week, Mike Fratantoni, […]

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