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MBA: Delinquency Rate Rises in First Quarter. Foreclosures Running At Record... |
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Jay Brinkmann, Chief Economist for MBA says, "The issue this quarter is that the seasonally adjusted delinquency rates went up while the unadjusted rates went down. Delinquency rates traditionally peak in the fourth quarter and fall in the first...
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Housing Industry Gets Wake Up Call After Purchase Apps Fall To 13 Year Low |
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The industry's worst fears might be coming true. Regardless of record levels of affordability (reset home prices and mortgage rates below 5.00%), purchase demand continues to decline after the expiration of the homebuyer tax credit |
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The Day Ahead: Consumer Level Inflation, MBA Delinquency Survey, FOMC Minutes |
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Investors across the globe are selling stocks after Germany announced it was banning naked short selling of credit default swaps, plus certain euro area bonds including 10 key financial companies. A flight to quality lifted the U.S. dollar index to... |
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Housing Starts Rise as Builders Begin Working Through Backlog of Permits |
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The uptick in Housing Starts was expected as last minute buyers rushed to finalize sales contracts before the homebuyer tax credit expired on April 30th. The 11.5% decline Building Permits was however not expected. The first thing that comes to mind... |
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HAMP Running Out of Qualified Borrowers to Rescue |
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The number of homeowners who completed HAMP's mandatory 90 day trial period and were converted into permanent load modification status rose 68,000 to 299,092 in April. This is a 13 percent increase over the number of permanent modifications reported... |
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The Day Ahead: More Global Support Offered To Greece. Housing Starts and Inflation... |
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As global support continues to grow for Greece, nerves are calming and investors are willing to buy again. Overnight, Greece received a €14.5 billion tranche in emergency aid from the European Union, as French Finance Minister Christine Lagarde said the... |
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Home Builder Expectations Continue to Improve After Tax Credit Expiration |
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Builder confidence in the market for newly built, single-family homes rose for a second consecutive month in May to its highest point since August 2007. The Housing Market Index (HMI) gained three points to 22 in May. NAHB Chief Economist David Crowe... |
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The Week Ahead: Housing Starts, FOMC Minutes, Auction Supply Terms, Inflation... |
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The key sector this week is housing, as data on new construction and homebuilder confidence are each expected to suggest recent progress. Meanwhile, several reports on inflation are also on the schedule, though they are unlikely to have a dramatic effect... |
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State Housing Finance Agencies Deal With Higher Delinquency and Foreclosure... |
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Moody's Investors Service said the foreclosures and delinquencies have risen significantly in the portfolios of state Housing Finance Agencies (HFAs) with Moody ratings. The service said that future projections fall well within the default rates... |
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The Day Ahead: Stocks Cautiously Lower Ahead of Data |
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Equity futures are sharply lower this morning ahead of several key data points for the U.S. “The whiff of uncertainty is still in the air on this Friday morning, ahead of a handful of U.S. economic data,” said economists at BMO. “Indeed, with the slew... |
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