For the second month in a row, 18 of the 20 Case-Shiller real estate markets posted higher home values. It’s the 6th consecutive strong showing for the benchmark private-sector housing index. Combined with falling home supplies and rising sales figures, this month’s Case-Shiller Index suggests that housing may have bottomed sometime earlier this year. It’s [...]

Getting approved for a mortgage is about to get harder. For the second time in less than 3 months, Fannie Mae announced changes to its mortgage guidelines. In its official announcement, Fannie Mae details the updates, meant to reduce the mortgage firm’s overall risk. The first major change is with respect to credit scoring. All [...]

The mortgage market resumed its winning streak last week after a 1-week hiatus. Markets rallied into the weekend and mortgage rates eased lower overall. It’s the third week out of four that rates improved and, ironically, rates may have dropped last week because traders were watching the wrong metrics. With respect to housing, analysts found [...]

As reported by the National Association of REALTORS®, the number of Existing Home Sales dipped last month, ending the metric’s 5-month winning streak. Newspaper headlines today are overwhelmingly negative on housing. You’d almost believe this year’s housing recovery had ended. That’s hardly the case. See, the other side of the Existing Home Sales story is [...]

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. It also reiterated plans to support the mortgage market to the tune of $1.5 trillion. In its press release, the FOMC noted that the U.S. economy is “picking up following its severe downturn” and that financial [...]

As reported by the government, home prices are rising nationwide, up 0.3 percent in July. Furthermore, versus November 2008, the Home Price Index has clawed back to unchanged. The housing market appears to be holding its own. However, we have to be careful about putting our full faith in the Federal Housing Finance Agency’s data. [...]

The Federal Open Market Committee starts a 2-day meeting today in Washington. The scheduled get-together ends at 2:15 PM ET Wednesday after which the FOMC will issue a press release to the markets. Consider locking your mortgage in advance of the press release. The FOMC meets 8 times annually and its adjournments are among the [...]

After improving in the two prior weeks, mortgage markets finished last week unchanged overall. Mortgage rates were down early in the week but managed to give up all of their gains late-Friday afternoon. It’s the same volatility variety we’ve seen in most weeks this year. Markets moved on to both positive- and negative-type news last [...]

Housing Starts on single-family homes took a step backwards last month, falling month-over-month for the first time since January. A “housing start” is new home on which construction has started. Don’t let the slowdown fool you, however — the housing market’s recovery is still very much underway. Sales volume is up in most cities Home [...]

Hello Everyone, Thought I would share the latest with you on this developing story. I just spoke with Art Hendricks at PDC and he said the funds are in the state but will not be available until sometime in October. If you are unfamiliar with the program I am speaking to, please reference this article [...]