In spite of global inflation concerns, Mortgage Time Market News reported for the week ending June 13, 2008
.............With so much talk about the threat of higher inflation, many mortgage investors positioned their portfolios very conservatively ahead of Friday's big Consumer Price Index (CPI) inflation report. The report, however, revealed no startling surge in inflation. May CPI came in slightly higher than expected, while May Core CPI, which excludes the food and energy components, matched the consensus forecast.
Mortgage investors were pleased that the news wasn't worse, and mortgage rates declined after the report was released, although they remained far higher than the prior week.
In the housing sector, the April Pending Home Sales index jumped 6% from March, far exceeding the consensus forecast for a small decline. Pending Home Sales are a leading indicator of future housing market activity, so the next Existing and New Home Sales reports may show increases.
The National Association of Realtors (NAR) latest forecast predicted that conditions will remain soft in the short term, but that activity will pick up during the second half of the year.
Saturday, June 14, 2008
Increased FHA Loan Limits are Helping the Housing Market
Read how the FHA loan limit increases are helping to improve home sales
Douglas Vazquez was able to buy a $400,000 condominium with a low down payment, thanks to a Federal Housing Administration loan (Read the full article here).
Douglas Vazquez was able to buy a $400,000 condominium with a low down payment, thanks to a Federal Housing Administration loan (Read the full article here).
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