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Home Builders Still See Tough Road Ahead
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Home Builders Still See Tough Road Ahead
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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Home Builders Still See Tough Road Ahead
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April 20, 2012 (Jeff Alan)

The nation’s new home builders still see a tough road ahead as potential buyers continue to face a multitude of home buying challenges and economic uncertainties that has left them hesitant to sign contracts for new home purchases according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for March.

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 fell three points to 25 in March from 28 in February and follows six consecutive months in which the HMI either recorded an increase or remained unchanged.

Barry Rutenberg, chairman of NAHB, stated, “Although builders in many markets are noting increased interest among potential buyers, consumers are still very hesitant to go forward with a purchase, and our members are realigning their expectations somewhat until they see more actual signed sales contracts.”

The three components that make up the HMI fell for the month with the component gauging sales expectations over the next six months falling three points to 32 from a revised 35 in February. March’s loss follows a four point gain in February.

The component gauging current sales conditions also fell three points, from a revised 29 the previous month to 26 in March, and the component gauging traffic of prospective buyers declined from 22 in February to 18 in March.

Only one of the four regions in the HMI posted a gain for the month. The Northeast reported a gain of four points to 29, the highest level for that region since May 2010, while the West remained unchanged at 32. The South fell three points to 24 while the Midwest suffered the worst decline, eight points, and fell to 23.

NAHB Chief Economist David Crowe stated, “What we’re seeing is essentially a pause in what had been a fairly rapid build-up in builder confidence that started last September. This is partly because interest expressed by buyers in the past few months has yet to translate into expected sales activity, but is also reflective of the ongoing challenges that are slowing the housing recovery – particularly tight credit conditions for builders and buyers, competition from foreclosures and problems with obtaining accurate appraisals.”

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

Source:
NAHB

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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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April 20, 2012 (Jeff Alan)

The nation’s new home builders still see a tough road ahead as potential buyers continue to face a multitude of home buying challenges and economic uncertainties that has left them hesitant to sign contracts for new home purchases according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for March.

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 fell three points to 25 in March from 28 in February and follows six consecutive months in which the HMI either recorded an increase or remained unchanged.

Barry Rutenberg, chairman of NAHB, stated, “Although builders in many markets are noting increased interest among potential buyers, consumers are still very hesitant to go forward with a purchase, and our members are realigning their expectations somewhat until they see more actual signed sales contracts.”

The three components that make up the HMI fell for the month with the component gauging sales expectations over the next six months falling three points to 32 from a revised 35 in February. March’s loss follows a four point gain in February.

The component gauging current sales conditions also fell three points, from a revised 29 the previous month to 26 in March, and the component gauging traffic of prospective buyers declined from 22 in February to 18 in March.

Only one of the four regions in the HMI posted a gain for the month. The Northeast reported a gain of four points to 29, the highest level for that region since May 2010, while the West remained unchanged at 32. The South fell three points to 24 while the Midwest suffered the worst decline, eight points, and fell to 23.

NAHB Chief Economist David Crowe stated, “What we’re seeing is essentially a pause in what had been a fairly rapid build-up in builder confidence that started last September. This is partly because interest expressed by buyers in the past few months has yet to translate into expected sales activity, but is also reflective of the ongoing challenges that are slowing the housing recovery – particularly tight credit conditions for builders and buyers, competition from foreclosures and problems with obtaining accurate appraisals.”

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.

April 20, 2012 (Jeff Alan)

The nation’s new home builders still see a tough road ahead as potential buyers continue to face a multitude of home buying challenges and economic uncertainties that has left them hesitant to sign contracts for new home purchases according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for March.

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 fell three points to 25 in March from 28 in February and follows six consecutive months in which the HMI either recorded an increase or remained unchanged.

Barry Rutenberg, chairman of NAHB, stated, “Although builders in many markets are noting increased interest among potential buyers, consumers are still very hesitant to go forward with a purchase, and our members are realigning their expectations somewhat until they see more actual signed sales contracts.”

The three components that make up the HMI fell for the month with the component gauging sales expectations over the next six months falling three points to 32 from a revised 35 in February. March’s loss follows a four point gain in February.

The component gauging current sales conditions also fell three points, from a revised 29 the previous month to 26 in March, and the component gauging traffic of prospective buyers declined from 22 in February to 18 in March.

Only one of the four regions in the HMI posted a gain for the month. The Northeast reported a gain of four points to 29, the highest level for that region since May 2010, while the West remained unchanged at 32. The South fell three points to 24 while the Midwest suffered the worst decline, eight points, and fell to 23.

NAHB Chief Economist David Crowe stated, “What we’re seeing is essentially a pause in what had been a fairly rapid build-up in builder confidence that started last September. This is partly because interest expressed by buyers in the past few months has yet to translate into expected sales activity, but is also reflective of the ongoing challenges that are slowing the housing recovery – particularly tight credit conditions for builders and buyers, competition from foreclosures and problems with obtaining accurate appraisals.”

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.