An upward surprise in this morning’s pending home sales data helped to restore some sentiment to the market after a disappointing personal income release. Pending home sales were up 3.6% in June, compared to a consensus forecast of 0.7%. This was the 5th consecutive month of gains. Pending home sales were up in all four […]
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Housing Sector
The MBA The Market Composite Index rose 10.9% the week ending July 3rd 2009. The purchase index rose 6.7%, while the refinancing component climbed 15.2%, on the back of relatively favorable interest rates. Remember this index could be skewed by lenders filling out multiple applications, and I would like to see a continued trend in […]
This piece is simply an updated version to a piece I published back on March 5th 2008 titled ‘How will it end’. Despite the fact we are much deeper into this financial crisis; the root of the problem has not changed, and that is the US housing market. As an interesting exercise consider that in […]