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Contract Signings for Home Purchases Improve in July
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You're Now Reading:
Contract Signings for Home Purchases Improve in July
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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Contract Signings for Home Purchases Improve in July
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August 30, 2012 (Chris Moore)

Contract signings for the purchase of existing homes bounced back in July after falling for two of the previous three months according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).

It was only the second time in the last four months that contract signings have seen an increase, climbing 2.4 percent to 101.7 in July and moving 12.7 percent higher than in July of last year when the Index was at 90.5.

July’s increase left the Index at roughly the same level as two years ago which followed the end of the home buyer tax credit program.

Lawrence Yun, chief economist of NAR, stated, “While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity. All regions saw monthly increases in home-buying activity except for the West, which is now experiencing an acute inventory shortage.”

Three of the four regions in the Index posted increases in their monthly level of sales contract activity, which was in stark contract to June when three of the four regions reported declines. All four regions reported a higher level of contract signings compared to a year ago.

The West recorded the only decline in monthly signed contracts, falling 1.7 percent from June. The South posted the largest increase, climbing 5.2 percent from the previous month while the Midwest and the Northeast saw gains of 3.4 and 0.5 percent, respectively.

Compared to July 2011, the Midwest was 20.2 percent higher, the South improved 15.6 percent and the Northeast and the West saw activity improve by 13.4 and 1.3 percent, respectively.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future.

Tags: pending home sales, existing home sales, contract signings, contract cancellations

Source:
NAR

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Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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August 30, 2012 (Chris Moore)

Contract signings for the purchase of existing homes bounced back in July after falling for two of the previous three months according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).

It was only the second time in the last four months that contract signings have seen an increase, climbing 2.4 percent to 101.7 in July and moving 12.7 percent higher than in July of last year when the Index was at 90.5.

July’s increase left the Index at roughly the same level as two years ago which followed the end of the home buyer tax credit program.

Lawrence Yun, chief economist of NAR, stated, “While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity. All regions saw monthly increases in home-buying activity except for the West, which is now experiencing an acute inventory shortage.”

Three of the four regions in the Index posted increases in their monthly level of sales contract activity, which was in stark contract to June when three of the four regions reported declines. All four regions reported a higher level of contract signings compared to a year ago.

The West recorded the only decline in monthly signed contracts, falling 1.7 percent from June. The South posted the largest increase, climbing 5.2 percent from the previous month while the Midwest and the Northeast saw gains of 3.4 and 0.5 percent, respectively.

Compared to July 2011, the Midwest was 20.2 percent higher, the South improved 15.6 percent and the Northeast and the West saw activity improve by 13.4 and 1.3 percent, respectively.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future.

Tags: pending home sales, existing home sales, contract signings, contract cancellations

Source:
NAR

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

August 30, 2012 (Chris Moore)

Contract signings for the purchase of existing homes bounced back in July after falling for two of the previous three months according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).

It was only the second time in the last four months that contract signings have seen an increase, climbing 2.4 percent to 101.7 in July and moving 12.7 percent higher than in July of last year when the Index was at 90.5.

July’s increase left the Index at roughly the same level as two years ago which followed the end of the home buyer tax credit program.

Lawrence Yun, chief economist of NAR, stated, “While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity. All regions saw monthly increases in home-buying activity except for the West, which is now experiencing an acute inventory shortage.”

Three of the four regions in the Index posted increases in their monthly level of sales contract activity, which was in stark contract to June when three of the four regions reported declines. All four regions reported a higher level of contract signings compared to a year ago.

The West recorded the only decline in monthly signed contracts, falling 1.7 percent from June. The South posted the largest increase, climbing 5.2 percent from the previous month while the Midwest and the Northeast saw gains of 3.4 and 0.5 percent, respectively.

Compared to July 2011, the Midwest was 20.2 percent higher, the South improved 15.6 percent and the Northeast and the West saw activity improve by 13.4 and 1.3 percent, respectively.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future.

Tags: pending home sales, existing home sales, contract signings, contract cancellations

Source:
NAR

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.