October Housing Starts Plunge as Tax Credit Expires A fallback was expected after the expiration of the $8,000 first time buyer tax credit. This was exactly what happened to auto sales after the end of “cash for clunkers”.
Home Mortgage Rates Set to Move Higher Next Spring
30-year fixed mortgage rates could jump as much as 100 basis points next spring when the Federal Reserve Board stops buying mortgage backed securities from the federal housing finance agencies.
Tax Credit Extension to Give Housing Recovery a Boost
New home construction has been holding steady since the spike experienced in June. Reed Construction Data Chief Economist Jim Haughey tells us that a resumed housing recovery is expected around year-end.
Tax Credit Spurs Jump in Existing-Home Sales
September existing-home sales jumped 9.4 percent to an annualized pace of 5.57 million, the highest total in two years. Jim Haughey, chief economist for Reed Construction Data, analyszes the report.
Thrift Industry Posts Another Break-Even Quarter
The industry’s profit of $1.3 billion for the third quarter, or 0.49 percent of average assets – a significant improvement from the losses of 2008 and early 2009.
House Prices Increase Slightly in Third Quarter
U.S. house prices rose modestly in the third quarter of 2009 according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted purchase-only house price index (HPI).
Study Finds Link Between Some Drywall and Corrosion There is strong evidence that Chinese drywall corrodes pipes and wires in humid places, and its combination of compounds may be an "irritant" to residents, according to the Consumer Product Safety Commission.
