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Pending home sales and residential construction both posted significant increases in September, according to separate reports released today by the Commerce Department and National Association of Realtors (NAR), signaling that the housing market may be pulling out of its doldrums.
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[News] Home Sales, Residential Construction Increase
The U.S. Senate has reached broad agreement on a bill to extend the $8,000 first-time homebuyer tax credit and offer a credit to existing homeowners as well, according to numerous media sources.
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[News] Senate Said to Agree on Extending Homebuyer Tax Credit
U.S. home prices rose for the fourth consecutive month in August, according to the monthly Standard & Poors/Case Shiller Index, although rising unemployment and the pending expiration of the first-time homebuyer’s tax credit raise doubts about whether the trend can be sustained.
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[News] Case-Shiller: Home Prices Rising
A government program designed to help at-risk homeowners refinance their mortgages is struggling, even as conventional mortgage refinances have surged in response to historically low interest rates.
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[News] Government Mortgage Refinance Program Struggling
Existing home sales posted a strong increase in September, according to the National Association of Realtors, as first-time homebuyers took advantage of low interest rates and a soon-to-expire $8,000 tax credit.
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[News] Existing Home Sales Up Strongly in September
The Index of Leading Economic Indicators rose again in September, making six straight months the index has risen and providing hope that an economic recovery is in the offing.
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[News] Leading Economic Indicators Up Six Straight Months
Thirty percent of U.S. foreclosures are occurring among the top third, an indication that the foreclosure crisis is hitting well-to-do homeowners in almost equal proportion to lower income families.
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[News] Foreclosures Hitting High-End Homes
Mortgage rates rose slightly this past week, but still remained under 5 percent for a 30-year fixed rate mortgage, according to the weekly survey by government-backed lender Freddie Mac.
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[News] Mortgage Rates Up Slightly
Retail sales fell in September, but analysts are still hailing it as a hopeful sign for the economy. That’s because nonautomotive sales actually rose for the second straight month and more than analysts expected.
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[News] New Retail Sales Figures Seen as Positive Sign
Current government programs to help homeowners keep their homes are inadequate to address a coming wave of foreclosures and will only delay foreclosure for many, according to a new report from the bipartisan Congressional Oversight Panel.
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[News] Loan Modification Program Inadequate, Report Says