Jun 20, 2012 | Housing Analysis
Sometimes, the housing data headlines tell just half the tale. The stories on May’s Housing Starts figures are proving to be a terrific illustration.
Tuesday, the Census Bureau released its monthly Housing Starts report. A “housing start” is a home on which construction has started.
The report is separated by property type with a separate count for single family homes such as detached residences and town homes; for multiple-unit homes such as 2-unit, 3-unit and 4-unit structures; and, for buildings of 5-units of more such as new condominiums.
In May, Housing Starts fell 4.8 percent nationwide. This runs contrary to recent housing market statistics and home builder confidence data which both have suggested a recovery. (more…)
Jun 19, 2012 | Housing Analysis
Home builders anticipate growth in the market for newly-built, single-family homes.
For June 2012, the National Association of Homebuilders reports its monthly Housing Market Index at 29 — an increase of more than 100% from one year ago and the highest HMI value since May 2007.
When the Housing Market Index reads 50 or better, it’s meant to indicate favorable conditions for builders in the single-family, new-construction market. Readings below (more…)
Jun 15, 2012 | Housing Analysis
According to foreclosure data firm RealtyTrac, the number of foreclosure filings nationwide rose 9 percent in May as compared to April 2012. Filing topped 200,000 units for the first time in 3 months.
The term “foreclosure filing” is a catch-all term comprising default notices, scheduled auctions, and bank repossessions. (more…)
Jun 14, 2012 | Housing Analysis
The number of U.S. housing markets showing “measurable and sustained growth” slipped by 20 in June, according to the National Association of Homebuilders.
The Improving Market Index is meant to identify housing markets in which economic growth is occurring as a whole — (more…)
Jun 12, 2012 | Mortgage Rates
It’s a money-saving time to be a Worcester County area home buyer. Historically, mortgage rates of all types — conventional, FHA, VA and USDA — have never been lower and low mortgage rates make for low monthly payments.
According to Freddie Mac’s weekly mortgage rate survey, the average 30-year fixed rate mortgage fell to 3.67% nationwide last week for borrowers willing to pay 0.7 discount points at closing, plus a full set of closing costs. 0.7 discount points is a one-time closing cost equal to 0.7 percent of your loan size, or $700 per $100,000 borrowed.
Today’s mortgage rates are a bargain as compared to just 1 year ago.
In early-June 2011, the average 30-year fixed rate mortgage nationwide was higher by 88 basis points, or 0.88%. If you are among the many U.S. homeowners who bought or refinanced a (more…)
