Housing Bright Spot: Construction Spending Rises

Construction Spending Rises U.S. construction spending rose 0.3 percent in April as private residential construction increased at the fastest pace in six months. Overall construction spending was up 6.8 percent compared with April 2011. Construction spending rose to an annual rate of $820.7 billion, the Commerce Department said on Friday, after an upwardly revised 0.3Continue reading “Housing Bright Spot: Construction Spending Rises”

The Housing Market Update – What to Look for

  Consumer Sentiment Jumps to Four Year High: While historically low mortgage rates and attractive home prices are important to make the housing market attractive, it is actually how a consumers feels about the economy and their own situation that drives demand. U.S. consumer sentiment rose to its highest level in more than four yearsContinue reading “The Housing Market Update – What to Look for”

National Home Values

Another year has passed, and while the last 5 of them have been rough for the housing market, we’ve now seen two consecutive quarters with most states showing incremental appreciation. Cause for celebration? Perhaps not, yet this is beginning to look like stabilization and that of course is the first step towards recovery. What’s workingContinue reading “National Home Values”

Here we go again.

Round and round we go. The market is struggling to gain stability as market swings are the norm as of late. Mortgage bonds are now falling back off pushing rates higher. Mortgage bond prices opened weaker this morning erasing the gains from yesterday afternoon but have recovered a bit near pricing to keep things inContinue reading “Here we go again.”

YO-YO Market

Mortgage bond prices closed slightly below the levels where daily pricing was set applying upward pressure to mortgage rates. Trade was volatile all day tied to the movement in stocks. Equity and bond prices were yo-yoing with each snippet of news out of Europe.  Tomorrow brings weekly jobless claims and Q3 advanced GDP before lendersContinue reading “YO-YO Market”

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