Not all housing reports are sunny, it seems. In its monthly New Home Sales release, the U.S. Department of Commerce showed a 13 percent drop-off in annualized new construction sales between the months of December and January. It's the biggest one-month drop in New Home Sales since May 2010. In a
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02/25/2011
Home resales rose another 2.7 percent last month, according to the National Association of REALTORS® monthly Existing Home Sales report. An "existing home" is a home that's been previously occupied and is not considered new construction. The number of existing homes sold on a rolling 12-month bas
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02/25/2011
Mortgage rates are up 0.875% since mid-November, causing home buyer purchasing power across Plymouth to fall more than 10 percent since. Persistent concerns over inflation are a major reason why and this week's Consumer Price Index did little to quell fears. CPI rose for the third straight month
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02/25/2011
Mortgage markets improved slightly last week, rebounding from the worst 1-week loss in recent history. The gains were geopolitical, however; the result of instability in the Middle East region. Economic data was overlooked as investors made a broad-based flight-to-quality. For just the second tim
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02/25/2011
The Federal Reserve released its January 25-26, 2011 meeting minutes Wednesday afternoon. Minnesota mortgage rates have been in flux since. Fed Minutes are comprehensive recaps of Federal Open Market Committee meetings; a detailed look at the debates and discussions that shape our nation's moneta
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02/25/2011
Annualized Single-Family Housing Starts dropped 1 percent in January to 413,000 units nationwide, it's lowest reading almost 2 years.A "Housing Start" is defined as a home on which construction has started. Now, if you had only seen the Housing Starts story in the headlines today, you wouldn't ha
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02/25/2011
Homebuilder confidence in the market for newly-built, single family homes appears stable as the spring buying season gets underway in Plymouth. The confidence reading is recorded and reported monthly by the National Association of Homebuilders. For the 4th straight month, the group's Housing Ma
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02/25/2011
If consumer spending is a keystone element in the U.S. economic recovery, a full-on rebound is likely underway. Tuesday, the Census Bureau released its national January Retail Sales figures and, for the seventh straight month, the data surpassed expectations. Last month's retail figures climbed
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02/15/2011
Mortgage markets worsened terribly last week. Amid more reports of an improving economy and fears of pending inflation, mortgage rates skyrocketed to their highest levels since April 2010. According to Freddie Mac, mortgage rates made their largest 1-week jump in more than a year last week, tack
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02/15/2011
Mortgage rates are surging. Over the last 7 days, conventional, 30-year fixed rate mortgage rates have jumped 24 basis points, or 0.24%, according to Freddie Mac's weekly Primary Mortgage Market Survey. It's the largest 1-week spike in mortgage rates in recent history. The 30-year fixed rate mo
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02/15/2011
