Weekly Twitter Digest for 2009-10-13

Author: jberman

Posted on in General

Weekly Twitter Digest for 2009-10-13

Helios Strategic Mortgage Income Fund, Inc. Dividend Announcement – Earthtimes (press release) http://ow.ly/15TckI # It's incredible to me that FHA underwriting changes (down payment %) are drafted through legislation. I get it, but I don't GET it. # Pending Homes Sales Go Up Again (JBermanGroup Blog) http://ow.ly/t2Cz # RT @DavidGibbons: Current rates: 30yr fixed: 4.87% 15yr fixed: 4.3% 5/1 ARM: 3.75% [AWESOME] (JBermanGroup quoting 30yr fixed: 4.5%) # Ritz-Carlton fitness-club investor takes post with Harris – Bizjournals.com http://ow.ly/15TkhW # People on the move – Denver Post http://ow.ly/15TohF # Condra trial pushed back to January – Mohave Valley News http://ow.ly/15TpHO # Real Estate Note Buyers, Enhance Mortgage Corporation, Offer Economic Stimulus – Press Media Wire http://ow.ly/15Trul # Float Alert: FNMA 4.5% 101.95 now +26 bps: Pricing may improve. # 3 Colorado Congress members ask credit card companies to suspend rate hikes – Bizjournals.com http://ow.ly/15Tvcz # ThinkBigWorkSmall Rate Alert Service is Changing! This email from them made me chuckle. http://ow.ly/tgBA # Losing […]

by jberman
Posted on in Housing Market

Pending Homes Sales Go Up Again

Buoyed by a generous tax credit, affordable homes, and low mortgage rates, the Pending Home Sales Index posted its seventh consecutive monthly gain in August. It’s the longest winning streak in the index’s history and the highest reading in 2-1/2 years. It’s also another signal that the housing market is in recovery. “Pending home sales” are a forward-looking indicator, measuring the number homes under contract to sell, but not yet closed. Historically, 80% of homes under contract close within 60 days. Most others close within 120 days. It’s no wonder home values are rising in so many markets. Home buyers — take note.  If you’re plan to purchase a home between now and the New Year, expect that the recent run in pending sales will turn into run of closed sales which, in turn, should pump prices up and drop home inventory. With mortgage rates hovering near 4-month lows, the best way to find a value in housing may be to act sooner […]

by jberman
Posted on in General

Weekly Twitter Digest for 2009-10-06

Colorado Business this week – Denver Post http://ow.ly/15S1d6 # Colorado mortgage rates hit 4.9%, lowest in months – Bizjournals.com http://ow.ly/15S4nF # Hotel Foreclosure Watch: Aspen's Hotel Jerome – Wall Street Journal (blog) http://ow.ly/15S6uO # Home values still rising according to Case-Shiller Index (JBermanGroup Blog) – http://ow.ly/s23l # It's on again: City edits Bruce's 2C statement – Colorado Springs Gazette http://ow.ly/15Sanj # Bank of America's Lewis Resigns After Betting on US Rebound – Bloomberg http://ow.ly/15SdcU # Bank of America's Lewis Resigns After Bet on Rebound – Bloomberg http://ow.ly/15SfZ3 # Bank of America's Lewis Resigns After Bet on Rebound – Bloomberg http://ow.ly/15ShyP # Call For Action Alert: Foreclosure Help – KKTV 11 News http://ow.ly/15SqsM # People on the move – Denver Post http://ow.ly/15SrE5 # Unbelievably low rates. Quoting: 30yrFX, $265,000, 4.5%, 80% LTV, Owner-Occupied, 740 Fico's (APR 4.625%) # "The three largest banks originated over 52% of the mortgages in the first six months of the year" – NAMB Pres. Jim Pair […]

by jberman
Posted on in Mortgage Rates

What’s Ahead For Mortgage Rates This Week : October 5, 2009

Mortgage markets rallied for most of last week, but ended Friday on a sour note. After touching their lowest levels since Memorial Day, mortgage rates spiked to close out the week. Despite pricing getting worse by 1/4 percent Friday afternoon, however, mortgage rates still managed to fall for the second consecutive week. There were two main storylines last week on Wall Street.  The first was data-driven. After several months of better-than-expected results, the September Non-Farm Payrolls report fell well short of expectations. According to the government, another quarter-million jobs were lost last month, raising the 12-month tally to 5.75 million.  Additionally, consumer confidence figures dropped.  The stories are related and it brings us to the second storyline.  Without job growth, some analysts are openly wondering how the economy will ever start to expand.  Especially with the Holiday Shopping season getting underway. The negative vibes were enough to shake off an overwhelmingly positive series of housing reports.  Both Pending Home Sales and the Case-Shiller […]

by jberman
Posted on in Housing Market

Case-Shiller Index Shows Home Values Still Rising

For the second month in a row, 18 of the 20 Case-Shiller real estate markets posted higher home values.  It’s the 6th consecutive strong showing for the benchmark private-sector housing index. Combined with falling home supplies and rising sales figures, this month’s Case-Shiller Index suggests that housing may have bottomed sometime earlier this year. It’s cause for optimism. Even Case-Shiller respresentatives seem excited. In its press release, the publishers singled out the index’s winning streak, commenting on the recent “stabilization in national real estate values”. But, in that statement, we see the Case-Shiller Index’s biggest flaw.  The index ipurports itself to be a national real estate metric but, in reality, there is no such thing as a national real estate market. All real estate is local. The Case-Shiller Index reports home values for 20 U.S. cities.  Each of those cities, however, is comprised of smaller neighborhoods, each with its own character, desirability, and price points.  Case-Shiller attempts to lump it all together — an impossibility. As an example, […]

by jberman
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