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Pending Home Sales Rise 2.4% in June
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You're Now Reading:
Pending Home Sales Rise 2.4% in June
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.
You're Now Reading:
Pending Home Sales Rise 2.4% in June
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July 28, 2011 (Chris Moore)

The Pending Home Sales Index (PHSI) increased by 2.4 percent to 90.9 in June according to the National Association of Realtors (NAR). This was the second consecutive month the PHSI has increased and puts the Index back near the levels seen in March before a huge 11.6 percent drop in April.

The PHSI is now 19.8 percent above the 75.9 reading in June of last year with all regions experiencing double digit gains over last year. Half of the four regions registered monthly gains.

Pending home sales increased in the South and the West with the South increasing 4.4 percent to an index of 99.2, which was 19.1 percent higher than June 2010, and in the West, the index rose 6.4 percent to 107.0 in June and is 16.4 percent above a year ago.

The PHSI declined in the Northeast and the Midwest with the Northeast slipping 0.4 percent to 68.9 in June, but still 19.4 percent higher than June 2010, and in the Midwest, the index fell 3.7 percent to 79.7 in June, but is 26.4 percent above a year ago.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future. A decrease of 0.8 percent in June’s existing home sales was a huge disappointment following May’s 8.2 percent jump in pending home sales but NAR feels that with two consecutive months of increased activity, overall improvement in closed sales in the upcoming months should be forthcoming.

Lawrence Yun, chief economist of NAR, once again stressed that tight credit, economic uncertainty, and Washington policy makers continue to keep a dark cloud hovering over the housing market.

“The best way to ensure a more solid recovery in housing is to simply return to normal, sound credit standards so more creditworthy home buyers can get a mortgage. Washington also should not rock the boat with policy changes that would negatively impact affordable credit or otherwise increase the cost of buying or owning a home,” Yun said.

Tags: NAR, pending home sales, existing home sales, tight credit, economic uncertainty, Washington policymakers, housing recovery

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 MortgageLoanRateUpdate 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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

July 28, 2011 (Chris Moore)

The Pending Home Sales Index (PHSI) increased by 2.4 percent to 90.9 in June according to the National Association of Realtors (NAR). This was the second consecutive month the PHSI has increased and puts the Index back near the levels seen in March before a huge 11.6 percent drop in April.

The PHSI is now 19.8 percent above the 75.9 reading in June of last year with all regions experiencing double digit gains over last year. Half of the four regions registered monthly gains.

Pending home sales increased in the South and the West with the South increasing 4.4 percent to an index of 99.2, which was 19.1 percent higher than June 2010, and in the West, the index rose 6.4 percent to 107.0 in June and is 16.4 percent above a year ago.

The PHSI declined in the Northeast and the Midwest with the Northeast slipping 0.4 percent to 68.9 in June, but still 19.4 percent higher than June 2010, and in the Midwest, the index fell 3.7 percent to 79.7 in June, but is 26.4 percent above a year ago.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future. A decrease of 0.8 percent in June’s existing home sales was a huge disappointment following May’s 8.2 percent jump in pending home sales but NAR feels that with two consecutive months of increased activity, overall improvement in closed sales in the upcoming months should be forthcoming.

Lawrence Yun, chief economist of NAR, once again stressed that tight credit, economic uncertainty, and Washington policy makers continue to keep a dark cloud hovering over the housing market.

“The best way to ensure a more solid recovery in housing is to simply return to normal, sound credit standards so more creditworthy home buyers can get a mortgage. Washington also should not rock the boat with policy changes that would negatively impact affordable credit or otherwise increase the cost of buying or owning a home,” Yun said.

Tags: NAR, pending home sales, existing home sales, tight credit, economic uncertainty, Washington policymakers, housing recovery

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.

July 28, 2011 (Chris Moore)

The Pending Home Sales Index (PHSI) increased by 2.4 percent to 90.9 in June according to the National Association of Realtors (NAR). This was the second consecutive month the PHSI has increased and puts the Index back near the levels seen in March before a huge 11.6 percent drop in April.

The PHSI is now 19.8 percent above the 75.9 reading in June of last year with all regions experiencing double digit gains over last year. Half of the four regions registered monthly gains.

Pending home sales increased in the South and the West with the South increasing 4.4 percent to an index of 99.2, which was 19.1 percent higher than June 2010, and in the West, the index rose 6.4 percent to 107.0 in June and is 16.4 percent above a year ago.

The PHSI declined in the Northeast and the Midwest with the Northeast slipping 0.4 percent to 68.9 in June, but still 19.4 percent higher than June 2010, and in the Midwest, the index fell 3.7 percent to 79.7 in June, but is 26.4 percent above a year ago.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future. A decrease of 0.8 percent in June’s existing home sales was a huge disappointment following May’s 8.2 percent jump in pending home sales but NAR feels that with two consecutive months of increased activity, overall improvement in closed sales in the upcoming months should be forthcoming.

Lawrence Yun, chief economist of NAR, once again stressed that tight credit, economic uncertainty, and Washington policy makers continue to keep a dark cloud hovering over the housing market.

“The best way to ensure a more solid recovery in housing is to simply return to normal, sound credit standards so more creditworthy home buyers can get a mortgage. Washington also should not rock the boat with policy changes that would negatively impact affordable credit or otherwise increase the cost of buying or owning a home,” Yun said.

Tags: NAR, pending home sales, existing home sales, tight credit, economic uncertainty, Washington policymakers, housing recovery

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.