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Pending home sales slid for the third straight month in November and the 2.6 percent decline was the largest of the three. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a leading indicator of sales of existing single-family homes, townhomes, condominiums, and cooperative apartments, dipped to 125.7 from its 128.9 level in October. The current PHSI is still the highest NAR's books for any November and was 16.4 percent higher than a year earlier The index had declined by 2.2 percent in September and another 1.1 percent in October, ending a four-month string of strong gains. Analysts had not expected a reversal of the current trend in November. Those polled by both Trading Economics and Econoday had expected the index to be unchanged from October. "The
Housing News
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Pending home sales slid for the third straight month in November and the 2.6 percent decline was the largest of the three. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a leading indicator of sales of exist... (read more)
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Rob Chrisman
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Loan originators in our business see potential borrowers whose monthly mortgage payments would be less than their rent payments but don’t qualify for credit or income reasons. The U.S. Census Bureau published some findings on workers being hard... (read more)
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Mortgage Rate Watch
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For all practical purposes, the year is over when it comes to mortgage rate volatility. True, there is some small chance that political developments conspire to push rates just a bit higher in the next two days, but the damage would be insignificant ... (read more)
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Housing News
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The headline for the October S&P CoreLogic Case-Shiller home price report is yet another month of escalating gains. The National Home Price Index which covers all nine U.S. census divisions posted an annual increase of 8.4 percent compared to a 7... (read more)
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Housing News
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As studies go, ATTOM Data Solutions Grocery Store Wars analysis is kind of silly. But at this point in this year, kind of silly is sort of welcome. Keep chickens and eggs in mind and make of this what you will. The company looked at how the proximity... (read more)
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MBS Commentary
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Bonds Sticking to Year-End Script
Bonds did a perfect job sticking to their year-end script today. It reads: "ZZZzzz..." MBS made some token gains during the AM hours, but not to such an extent th... (read more)
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