Monthly Archives: March 2012

Pending Homes Sales Remain Strong

The housing market took a step back in February, but remains near post-recession highs. According to data from the National Association of REALTORS®, February’s Pending Home Sales Index slipped 0.5 percent from the month prior, to 96.5. The Pending Home Sales Index is a monthly report which measures the number of homes under contract to […]

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Building Permits are on the Rise

The new construction housing market appears primed for growth this season. According to the Census Bureau, the number of single-family building permits issued in February rose to 472,000 on a seasonally-adjusted, annual basis, marking the highest building permit tally since April 2010 — the last month of that year’s federal home buyer tax credit program. […]

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Mortgage Rates for the week of: March 26, 2012

Mortgage markets carved out a wide range last week, eventually closing slightly worse. Mortgage-backed bonds sold off early in the week on rising investor sentiment. Then, they reversed higher on prepared remarks from Federal Reserve Chairman Ben Bernanke, which tempered Wall Street optimism. When bonds prices rise, mortgage rates fall. Conforming and FHA mortgage rates […]

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Home Builder Confidence on the Rise

In March, for the second consecutive month, the National Association of Homebuilders reports the Housing Market Index at 28 — a doubling of the reading from just 6 months ago and, along with last month, the highest HMI value since June 2007. When home builder confidence reads 50 or better, it reflects favorable builder conditions […]

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Revamped HARP program is now available

The new, revamped HARP program is now available in Idaho and nationwide. It was officially released Saturday, March 17, 2012 by Fannie Mae and Freddie Mac. HARP is an acronym. It stands for Home Affordable Refinance Program. HARP is the conforming mortgage loan product meant for “underwater homeowners”. Under the HARP program, homeowners in Boise […]

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Mortgage Rates for the week of: March 19, 2012

Mortgage markets worsened last week as the Federal Reserve’s Federal Open Market Committee suggested economic recovery may be closer than it originally expected, and that inflation may be a near-term economic concern. Although the FOMC voted to leave the Fed Funds Rate unchanged in its current range near 0.000 percent, its published comments sparked a […]

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Foreclosure Volume Slated To Rise This Spring

After a series of months during which foreclosure volume was low, total filings have started to rise again, says RealtyTrac. In February, 21 states posted a year-over-year increase in monthly foreclosure filings, according to the national foreclosure-tracking firm. This is nearly twice as many states as compared to December 2011, marking the highest monthly reading […]

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Mortgage Rates Climb Sharply After Retail Sales Report

The U.S. economy is expanding, fueled by a renewed consumer optimism and increased consumer spending. As reported by the Census Bureau, Retail Sales in February, excluding cars and auto parts, rose 1 percent to $335 billion as 11 of 13 retail sectors showed improvement last month. February markets the 19th time in twenty months that […]

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Mortgage Rates for the week of: March 12, 2012

Mortgage markets were mostly unchanged last week despite a series of positive developments. In addition to Greece successfully reaching a deal with its private creditors, the U.S. economy turned out strong reports — most notably with respect to Non-Farm Payrolls. In February, the U.S. economy added 227,000 new net jobs and the figures from December […]

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Mortgage Rates Expected To Rise On A Strong Job Report

With home affordability at an all-time high, buoyed by the lowest mortgage rates ever, it’s been a terrific time to buy or refinance a home using a mortgage. The good times may not last, though, so today marks an ideal time to lock a mortgage rate. Friday brings risk. Here’s why. Since 2010, weak economic […]

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