The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI) rose in July.
U.S. housing markets are gaining as demand for homes exceeds available supplies in many areas. The National Association of Home Builders/ Wells Fargo Housing Market Index (HMI) for June increased by eight points over May’s reading to achieve a positive reading of 52. This last happened in August-September of 2002, when HMI monthly readings also jumped by eight points.
MARKET WRAP: The devastation in Japan continued to rock the markets today forcing investors to panic sell in the equity markets pushing the Dow Jones down nearly 300 points before paring more than half of those losses by the time the Stock markets closed at 4:00pm ET. The selling of equities lifted the Bond marketsContinue reading “Japan continues to rock the markets”
Mortgage bond prices opened slightly higher Wednesday morning adding to the gains seen Tuesday afternoon. Rates are finding support from bond friendly economic news released this morning. In news released at the open, consumer prices rose 0.2% last month and the core rate, which excludes the volatile food and energy costs were unchanged. Economists expectedContinue reading “Maine Mortgage Market Update 11.17.2010”
Mortgage bond prices were lower for last week pushing mortgage interest rates higher. The Treasury auctions were mixed with generally decent foreign demand but rather lackluster overall results. The weekly jobless claims data came in lower than expected which was not bond friendly and pushed rates considerably higher Wednesday. The bond market was closed Thursday for the holiday,Continue reading “Events effecting the Maine Mortgage Market 11.15 to 11.19”