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Home Builder Confidence Keeps Momentum
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Home Builder Confidence Keeps Momentum
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
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
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Home Builder Confidence Keeps Momentum
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February 27, 2012 (Jeff Alan)

The spike in new home starts at the end of 2011 helped bolster the confidence among the nation’s home builders resulting in a four point gain to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) in February, bringing the index to the highest level in more than four years.

The HMI is derived from a survey that the National Association of Home Builders (NAHB) has been conducting for over 20 years. The index gauges builder perceptions of current single family home sales and sales expectations for the next six months as “good, fair, or poor.” Builders are also asked to rate traffic of prospective buyers as “high to very high, average or low to very low.” Each component is then used to calculate a seasonally adjusted index where a score over 50 indicates builder’s view sales conditions as good.

The index rose four points to 29 in February and follows a similar four point increase in January. February’s increase was the fifth consecutive monthly increase for the index.

Barry Rutenberg, chairman of NAHB, stated, “Builder confidence has doubled since September as measured by the HMI. Given the recent improvements in new home starts and the increasing number of markets included in the NAHB/First American Improving Markets Index, this consistency suggests that the housing market is moving toward more sustainable growth.”

All three components that make up the HMI also posted gains for the fifth consecutive month. The component gauging sales expectations over the next six months gained five points, rising to 34, and follows a three point gain in January.

The component gauging current sales conditions also rose five points, from 25 last month to 30 in February, and the component gauging traffic of prospective buyers gained one point from last month to 22 in February, the highest level for that component since June 2007.

Two of the four regions in the HMI posted gains with the West reporting the largest gain, climbing a whopping 23 points to 44, followed by the Midwest, which posted a six point gain to 30. The South fell three points, moving down to 25, while the Northeast posted a two point decline to 21.

NAHB Chief Economist David Crowe stated, “This is the longest period of sustained improvement we have seen in the HMI since 2007, which is encouraging. However, it is important to remember that the HMI is still very low, and several factors continue to constrain the market. Foreclosures are still competing with new home sales, and many builders are seeing appraisals come in at less than the cost of construction. Additionally, prospective home buyers are finding it difficult to qualify for a mortgage.”

Tags: NAHB, Wells Fargo, Housing Market Index, HMI, homebuilders, sales expectations, builder confidence, single-family homes

Source:
NAHB

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February 27, 2012 (Jeff Alan)

The spike in new home starts at the end of 2011 helped bolster the confidence among the nation’s home builders resulting in a four point gain to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) in February, bringing the index to the highest level in more than four years.

The HMI is derived from a survey that the National Association of Home Builders (NAHB) has been conducting for over 20 years. The index gauges builder perceptions of current single family home sales and sales expectations for the next six months as “good, fair, or poor.” Builders are also asked to rate traffic of prospective buyers as “high to very high, average or low to very low.” Each component is then used to calculate a seasonally adjusted index where a score over 50 indicates builder’s view sales conditions as good.

The index rose four points to 29 in February and follows a similar four point increase in January. February’s increase was the fifth consecutive monthly increase for the index.

Barry Rutenberg, chairman of NAHB, stated, “Builder confidence has doubled since September as measured by the HMI. Given the recent improvements in new home starts and the increasing number of markets included in the NAHB/First American Improving Markets Index, this consistency suggests that the housing market is moving toward more sustainable growth.”

All three components that make up the HMI also posted gains for the fifth consecutive month. The component gauging sales expectations over the next six months gained five points, rising to 34, and follows a three point gain in January.

The component gauging current sales conditions also rose five points, from 25 last month to 30 in February, and the component gauging traffic of prospective buyers gained one point from last month to 22 in February, the highest level for that component since June 2007.

Two of the four regions in the HMI posted gains with the West reporting the largest gain, climbing a whopping 23 points to 44, followed by the Midwest, which posted a six point gain to 30. The South fell three points, moving down to 25, while the Northeast posted a two point decline to 21.

NAHB Chief Economist David Crowe stated, “This is the longest period of sustained improvement we have seen in the HMI since 2007, which is encouraging. However, it is important to remember that the HMI is still very low, and several factors continue to constrain the market. Foreclosures are still competing with new home sales, and many builders are seeing appraisals come in at less than the cost of construction. Additionally, prospective home buyers are finding it difficult to qualify for a mortgage.”

Tags: NAHB, Wells Fargo, Housing Market Index, HMI, homebuilders, sales expectations, builder confidence, single-family homes

Source:
NAHB

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.

February 27, 2012 (Jeff Alan)

The spike in new home starts at the end of 2011 helped bolster the confidence among the nation’s home builders resulting in a four point gain to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) in February, bringing the index to the highest level in more than four years.

The HMI is derived from a survey that the National Association of Home Builders (NAHB) has been conducting for over 20 years. The index gauges builder perceptions of current single family home sales and sales expectations for the next six months as “good, fair, or poor.” Builders are also asked to rate traffic of prospective buyers as “high to very high, average or low to very low.” Each component is then used to calculate a seasonally adjusted index where a score over 50 indicates builder’s view sales conditions as good.

The index rose four points to 29 in February and follows a similar four point increase in January. February’s increase was the fifth consecutive monthly increase for the index.

Barry Rutenberg, chairman of NAHB, stated, “Builder confidence has doubled since September as measured by the HMI. Given the recent improvements in new home starts and the increasing number of markets included in the NAHB/First American Improving Markets Index, this consistency suggests that the housing market is moving toward more sustainable growth.”

All three components that make up the HMI also posted gains for the fifth consecutive month. The component gauging sales expectations over the next six months gained five points, rising to 34, and follows a three point gain in January.

The component gauging current sales conditions also rose five points, from 25 last month to 30 in February, and the component gauging traffic of prospective buyers gained one point from last month to 22 in February, the highest level for that component since June 2007.

Two of the four regions in the HMI posted gains with the West reporting the largest gain, climbing a whopping 23 points to 44, followed by the Midwest, which posted a six point gain to 30. The South fell three points, moving down to 25, while the Northeast posted a two point decline to 21.

NAHB Chief Economist David Crowe stated, “This is the longest period of sustained improvement we have seen in the HMI since 2007, which is encouraging. However, it is important to remember that the HMI is still very low, and several factors continue to constrain the market. Foreclosures are still competing with new home sales, and many builders are seeing appraisals come in at less than the cost of construction. Additionally, prospective home buyers are finding it difficult to qualify for a mortgage.”

Tags: NAHB, Wells Fargo, Housing Market Index, HMI, homebuilders, sales expectations, builder confidence, single-family homes

Source:
NAHB

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.