For The 4th Straight Month, There's An Increase In The Number Of Homes Under Contract

New Home Supplies Plummet, Pressuring Home Prices Higher
The supply of newly-built homes fell to its lowest levels since 2006, offering additional proof of a housing market in recovery. Home supply is defined as the amount of time it would take to sell the current inventory of homes at the current pace of sales. In October, for the 8th consecutive month, home supplies fell. Since peaking in January 2009, it

What's Ahead For Mortgage Rates This Week : November 30, 2009
Mortgage markets improved last week on stronger-than-expected economic data and safe haven buying. The holiday-shortened trading week amplified what should have been modest gains into large ones. Conforming mortgage rates dropped by about a quarter-percent last week, dropping them near their best levels of the year -- and of all-time. Oddly, mortgage rates are falling as the U.S. dollar weakens. This is atypical because mortgage bonds are repaid in U.S. dollars. When the value of the dollar is falling, therefore

One Reason Why Mortgage Rates Are Back To All-Time Lows
Home affordability improved this week after the Federal Reserve released its November 3-4, 2009 meeting minutes. The FOMC Minutes is a companion to the Federal Reserve's post-meeting press release. It's released 3 weeks after the Fed adjourns and details the internal debates that shape our nation's monetary policy. As compared to the press release, the minutes can be rather lengthy. November's press release

The Home Price Index Shows Home Values Increasing. Case-Shiller Agrees.
It's official -- home prices are no longer in free fall. According to the Federal Housing Finance Agency, the Home Price Index posted its first quarterly increase since 2007 last quarter. The news was reported Tuesday. The Home Price Index is an interesting metric. It's huge in its scope, accounting for every home sold in the country that backs a mortgage bound for Fannie Ma

Existing Home Sales Blow Past Expectations
Another month, another piece of evidence that the housing market is in recovery. Existing Home Sales surged in October as the nation's homebuyers took advantage of low mortgage rates, low list prices, and, for some, a generous tax credit. Home resales are