August 3, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending July 29, 2011. The Market Composite Index, a measure of mortgage loan application volume increased 7.1 percent but overall activity remains weak compared to historic standards and refinance activity is still 30 percent below last [...]
August 2, 2011 (Chris Moore) Consumer confidence tumbled in July to its lowest level since early 2009 as financial uncertainty leads consumers to expect a slowdown in future economc growth according to the latest Surveys of Consumers by Reuters/University of Michigan. […]
August 2, 2011 (Jeff Alan) The Federal Housing Administration’s (FHA) Mortgage Review Board (MRB) has taken administrative action against 240 FHA-approved lenders who failed to meet its lending requirements. […]
August 2, 2011 (Shirley Allen) The Department of Housing and Urban Development (HUD) has announced they will speed disaster relief assistance to affected counties in New Hampshire, Wyoming and Kentucky, providing support to homeowners and low-income renters who have been forced from their homes due to the recent severe weather, flooding, tornadoes and landslides that [...]
August 1, 2011 (Shirley Allen) Private residential construction spending declined 0.3 percent to a seasonally adjusted annual rate of $235.8 billion in June compared to a revised estimate of $236.5 billion in May according to the U.S. Census Bureau. Overall private construction spending was up 0.8 percent, from a seasonally adjusted $489.6 billion in May [...]
August 1, 2011 (Shirley Allen) Sales of new and resale homes in Miami climbed up 1.4 percent from May to June, but sales of luxury homes shot up 21.2 percent from May and sales for the first six months of this year are 13.4 percent higher than during the same period last year according to [...]
July 29, 2011 (Shirley Allen) Homeownership rates in the United States dropped to 65.9 percent in the second quarter of 2011, falling to levels last seen in 1997 according to the U.S. Census Bureau. […]
July 29, 2011 (Chris Moore) Economic activity continued to grow, though at a much more moderate pace according to the latest edition of the Beige Book released by the Federal Reserve. […]
July 29, 2011 (Chris Moore) The Pentagon Federal Credit Union Foundation is providing grants of up to $5000 for eligible Service Members who are first-time homebuyers through the Dream Makers Program. […]
