Monthly Archives: August 2011

Pending Home Sales Slip In July; Creates Buyer Opportunity

After 3 straight months of gains, the Pending Home Sales Index slipped 1 percent in July. The monthly report is published by the National Association of REALTORS® and measures the number of home under contract to sell nationwide. The Pending Home Sales Index is closely watched by Wall Street and analysts because it’s a forward-looking […]

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Mortgage Rates for the week of: August 29, 2011

Last week was another volatile week for mortgage rates. Wall Street alternately sought risk and shunned it, causing mortgage-backed bonds to rise and fall rapidly. There was a lot to move markets. Including banking concerns across Europe, inflation figures within the U.S., and a public speech by Fed Chairman Ben Bernanke. Conforming rates in Idaho […]

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New Home Supplies Remain Flat; Builders Not Over-Extending

Sales of newly-built homes slipped in July, falling 1 percent as compared to June. Home buyers closed on a seasonally-adjusted, annualized 298,000 units, the lowest reading since February. The supply of new homes, however, remained flat. July’s 6.6 months of supply equaled June’s tally and remains near the multi-year low of 6.5 months set in […]

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Existing Home Sales Slip in July

Existing home sales slipped in July. According to the National Association of REALTORS®, Existing Home Sales nationwide fell to 4.67 million units on a seasonally-adjusted annualized basis last month. It’s the fourth straight month below the 5 million mark, and the report’s lowest reading since November 2010. An “existing home” is a home that’s been […]

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Mortgage Rates for the week of: August 22, 2011

Mortgage markets improved again last week, pushing mortgage rates in Idaho to an all-time low. Last week’s low mortgage rate drivers are primarily European. Joining the debt concerns that have dogged Europe since March, a fresh wave of doubt has surfaced about the health of some Eurozone banks. The fears sparked a new wave of […]

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Mortgage Rates for the week of: August 15, 2011

Mortgage markets improved again last week. The combination of global economic uncertainty plus a dour outlook from the Federal Reserve pushed mortgage bonds to highs for 2011, and drove mortgage rates below their all-time lows. Bonds were volatile, driven by the stock market’s gyrations. On 4 consecutive days, the Dow Jones Industrial Average moved by […]

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Foreclosures Sink To 4-Year Low

Foreclosure activity continues to slow. According to RealtyTrac, a national foreclosure-tracking firm, the number of foreclosure filings nationwide fell 35 percent as compared to July 2010, a statistic suggesting that the housing market continues to improve. “Foreclosure filing” is a catch-all term encompassing default notices, scheduled auctions, and bank repossessions. Filings fell to a 44-month […]

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Mortgage Rates Drop After U.S. Credit Downgrade

Mortgage rates continue drifting downward, despite — or because of — a ratings downgrade on long-term U.S. government debt. Standard & Poors issued a single-notch downgrade after Friday’s market close, from AAA to AA+. Of the roughly $9.4 billion in publicly-held U.S. debt, 72 percent is long-term (i.e. with duration of 2 years or longer). […]

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Mortgage Rates for the week of: August 8, 2011

Mortgage markets were especially volatile last week, taking rate shoppers in Washington on a roller-coaster ride. The week’s news schedule was full. It included debt ceiling debates, jobs figures, and ongoing maneuverings within the Eurozone. Each story a material impact on mortgage rates and, as a result, rates varied wildly from day-to-day. Throughout the early […]

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Mortgage Rates for the week of: August 1, 2011

Mortgage markets improved last week as the U.S. debt ceiling debate continued on Capitol Hill. Bonds traded in a range Monday through Thursday before breaking higher Friday morning. 30-year fixed conforming mortgage rates improved in Idaho last week, falling to levels just north the product’s all-time low set in November 2010. 5-year ARMs improved last […]

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