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The Census Department released September New Residential Construction: Building Permits, Housing Starts, and Housing Completions data this morning. Housing Starts data estimates how much new residential real estate construction occurred in the previous month. New construction means digging has begun...
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Prices of mortgage backed securities posted modest gains yesterday in an uneventful trading session. Intraday gains didn’t warrant reprices for the better from lenders, however because the rally has carried over into today, mortgage rates are better this morning! This morning we got a read on the...
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Recap of Yesterday NAHB : Builder confidence falls in October. NAHB urges Congress to extend FTHB tax credit: “ Congressional action to expand the tax credit and extend it for one year would provide a critically needed boost to the employment market and economy, generating nearly 350,000 jobs,...
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It was a bumpy ride in the secondary mortgage market yesterday. At the open, MBS prices moved considerably higher, however, the gains did not last long. Most lenders issue rate sheets around 10am eastern and by that time, MBS had given back all of the early morning gains. This forced several lenders...
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Recap of Yesterday Choppy rates session. FN 4.5 trades in 19 tick range...forcing us to issue two ALERTS. Mortgage Rates still holding at or below 5.00% (well qualified borrowers only) FN 4.5 +0-03 at 3pm marks. FN 4.5 -0-02 at 5pm. Current Coupon 4.39% at 3pm, 4.41% at 5pm. Yield spreads tighter vs...
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Tuesday presented some good news for the real estate market as Housing Starts improved above expectations in May. Inflation for producers was also more benign than expected. Together, the two releases are allowing futures to extend overnight gains. S&P 500 futures are now up 0.5%, compared to just...
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Markets have shown little concrete direction in recent weeks, and while there will be no shortage of data in the third week of June, no single release is a dominant market mover. For those in Real Estate , three releases will of direct interest: Monday’s NAHB builder confidence survey and Tuesday’s...
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Following a 3% gain on Monday, the S&P 500 is about neutral after the first hour of trading on Tuesday, a fitting response to a better than expected earnings report from Home Depot contrasts with worse than anticipated housing data. As of 10:30 am EST, the S&P 500 is up 0.44% to 913.7, the Dow...
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A government survey measuring new residential construction came in much weaker than forecasts on Tuesday, as plans to build multiple-unit condos plummeted in April. Housing starts ― plans for building new homes ― fell dramatically by 12.8% in April to an annualized pace of 458,000. Forecasts had ranged...
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The S&P 500 climbed more than 3.00% on Monday, initially led by a better than expected earnings report from Lowe’s, the home improvement retailer. To begin Tuesday, its rival Home Depot has just announced its Q1 earnings also beat expectations with a 44% gain. S&P 500 futures fell nearly...
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New economic data will be in short supply this week but the few releases that will be published do concern the housing market. Monday gives a look at homebuilder confidence, Tuesday gives data on new construction, and Thursday will show the survey week results for Jobless Claims. Further Details: The...
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The U.S. housing sector showed greater than expected weakness in March, with both housing starts and building permits both falling further than expectations. Housing starts fell to an annualized pace of 510k, representing a month-over-month decrease of 10.8%, according to the U.S. Department of Commerce...
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Economists are dismissing the unexpected rebound in U.S. housing starts in February as temporary and perhaps weather-related, and suggest a bottom in the housing market is still some months away. U.S. housing starts rose to an annualized pace of 583k, representing a month-over-month increase of 22.2...
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An interview with Dan Binder of Jefferies and Co. as he talks more on whats behind his statement 'it is time to buy a retail' and more on the housing starts. (Bloomberg News)
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The U.S. housing sector continued to show weakness in January with housing starts and building permits sinking to new record lows for the second consecutive month. U.S. housing starts fell to an annualized pace of 466k, representing a month-over-month decrease of 16.8%, according to the U.S. Department...