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After posting two strong consecutive months, pending home sales fell in July according to information released Monday by the National Association of Realtors® (NAR). The Pending Home Sales Index (PHDI), a forward-looking indicator of housing market health, registered 89.7 in July, down 1.3 percent...
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Pending real estate sales had another strong showing in June according to the Pending Home Sales Index (PHSI) released today by the National Association of Realtors® (NAR). The Index, a forward-looking indicator based on home sales contracts, rose 2.4 percent to 90.9 in June, following an 8.2 percent...
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There's some positive news on the future of home sales. The Pending Home Sales Index rose sharply in May, indicating an upbeat outlook for the second half of the year, according to the National Association of Realtors®. The Index, released on Wednesday, showed pending sales up nationally with every...
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The National Association of Realtors® (NAR) released its April Pending Home Sales Index (PHSI ) today. The index is said to be a leading indicator for the housing sector; it measures sales activity based on sales of single-family homes, coops and condos. The data reflects contracts but not closings...
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The National Association of Realtors® (NAR) released its February Pending Home Sales Index (PHSI). The index is a leading indicator for the housing sector; it measures sales activity based on sales of single-family homes, coops and condos where contracts have been signed but the transactions have...
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The National Association of Realtors today released the Pending Home Sales Index for January. The Pending Home Sales index measures housing contract activity. It is based on signed real estate contracts for existing single-family homes, condos and co-ops. A signed contract is not counted as a sale until...
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Mortgage rates held steady near aggressive levels yesterday. While we had more than one scheduled economic release to digest, trading in the bond market was slow as several overseas markets were out on holiday. Over the past week mortgage rates have slowly improved thanks to market participants allocating...
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Its been a wild week in mortgage rate land. Lenders have repriced for the better, they have repriced for the worse, only to reprice for the better again! And that's just two days of action. Its been a roller coaster ride to say the least, but some how we've managed to end up right back where...
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Mortgage rates held steady yesterday despite a healthy rally in the stock market. Lenders were able to keep mortgage rate sheets mostly unchanged as prices of mortgage backed securities held to a tight range throughout the day. President Obama released his 2011 Budget yesterday morning. We were hoping...
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Prices of mortgage backed securities hit a new all time high yesterday. To remind readers, as prices of mortgage backed securities move higher, lenders are able to offer lower mortgage rates. Unfortunately, despite the move higher in MBS prices, lenders have been reluctant to push mortgage rates much...
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Last week ended on positive note for mortgage backed securities and mortgage rates. As stock indexes fell, market participants re-allocated portfolios from risky assets to safer investments, resulting in added demand for government AAA rated fixed income securities. The benchmark 10 yr Treasury note...
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Mortgage rates were unchanged as the third quarter came to a close yesterday. MBS prices have moved sideways at their highest levels in over four months after rallying to those levels on Monday. With today's economic data releases, prices are moving HIGHER, pushing into levels not seen since the...
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Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.
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The Pending Home Sales Index rose more than expected with a 3.2% advance in March, against forecasts that it would be unchanged after a revised 2.0% gain in February. The index now stands at 84.6. Annually, pending sales have risen 1.1% since March 2008. The index, released by the National Association...
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A rate decision from the Bank of Canada, the release of U.S. auto sales data for February and a barrage of central bank and government speakers are the main events of the North American session, while European market participants will focus on comments from their own central bankers. At 8 a.m. EST, Atlanta...