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Consumer Sentiment Index rose to 75.3

Steven Schipper — Fri, 24 Feb 2012 16:07:36 +0000

February 24, 2012 – The Thomson Reuters/University of Michigan reported that the Sentiment Index rose to 75.3 in the February survey, just ahead of the 75.0 in January, but slightly below last February’s 77.5. This marked the sixth consecutive month that the Sentiment Index increased from its August low of 55.8, a cumulative gain of 35%. The Expectations Index rose to 70.3 in February, from 69.1 in January but was just below last February’s 71.6. The Current Conditions Index was 83.0 in February, down from 84.2 in January and last year’s 86.9 due to rising gasoline prices.

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New Res. Sales 321,000

Steven Schipper — Fri, 24 Feb 2012 15:37:32 +0000

February 24, 2012 – The U.S. Census Bureau reported sales of new single-family houses in January 2012 were at a seasonally adjusted annual rate of 321,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.9 percent (±16.6%) below the revised December rate of 324,000, but is 3.5 percent (±17.6%) above the January 2011 estimate of 310,000.

The median sales price of new houses sold in January 2012 was $217,100; the average sales price was $261,600. The seasonally adjusted estimate of new houses for sale at the end of January was 151,000.This represents a supply of 5.6 months at the current sales rate.

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U.S. House Prices Rise 0.7%

Steven Schipper — Thu, 23 Feb 2012 18:55:55 +0000

February 23, 2012 – The Federal Housing Finance Agency reported U.S. house prices fell modestly in the fourth quarter of 2011 according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted purchase-only house price index (HPI). The HPI, calculated using home sales price information from Fannie Mae- and Freddie Mac-acquired mortgages, was 0.1 percent lower on a seasonally adjusted basis in the fourth quarter than in the third quarter. On an unadjusted basis, prices fell 1.1 percent during the quarter. Over the past year, seasonally adjusted prices fell 2.4 percent from the fourth quarter of 2010 to the fourth quarter of 2011.

FHFA’s seasonally adjusted monthly index for December was up 0.7 percent from its November value. On a not-seasonally adjusted basis, prices were flat over the November-to- December period.

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MBA Forecasts Decrease in Refi’s

Steven Schipper — Thu, 23 Feb 2012 18:23:03 +0000

February 16, 2012, The Mortgage Bankers Association (MBA) released their monthly Mortgage Finance Forecast. In their forecast the MBA made the following predictions for Refinance Share of Total Originations for next several years.

For the Year-Ending 2012, the MBA expects total single-family refinance share of originations to drop to 61% compared with the most recent quarter of 78%.

For the Year-Ending 2013, the MBA expects total single-family refinance share of originations to drop to 34% compared with the most recent quarter of 78%.

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MBA Forecasts Decrease in Refinance Volumes

Steven Schipper — Thu, 23 Feb 2012 18:20:20 +0000

For the Year-Ending 2012, the MBA expects total single-family refinance originations to decrease to $628 Billion compared with 2011 estimates of $858 Billion.

For the Year-Ending 2013, the MBA expects total single-family refinance originations to drop to $353 Billion compared with 2011 estimates of 858 Billion.

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MBA Forecasts Purchase Volumes to Increase

Steven Schipper — Thu, 23 Feb 2012 18:19:14 +0000

February 16, 2012, The Mortgage Bankers Association (MBA) released their monthly Mortgage Finance Forecast. In their forecast the MBA made the following predictions for Purchase Volumes for next several years.

For the Year-Ending 2012, the MBA expects total single-family purchase originations to remain flat at $398 Billion compared with 2011 estimates of $404 Billion.

For the Year-Ending 2013, the MBA expects total single-family purchase originations to increase to $675 Billion compared with 2011 estimates of $404 Billion.

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MBA Forecasts Decrease in Origination Volumes

Steven Schipper — Thu, 23 Feb 2012 18:16:54 +0000

February 16, 2012, The Mortgage Bankers Association (MBA) released their monthly Mortgage Finance Forecast. In their forecast the MBA made the following predictions for 1-4 Family Mortgage Origination Volumes for next several years.

For the Years-Ending 2012 and 2013 the MBA expects total single-family originations to drop to approximately $1 Trillion compared with 2011 estimate of $1.26 Trillion.

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MBA Forecasts Gradual Increase in Rates

Steven Schipper — Thu, 23 Feb 2012 18:15:08 +0000

February 16, 2012, The Mortgage Bankers Association (MBA) released their monthly Mortgage Finance Forecast. In their forecast the MBA made the following predictions for Mortgage Rates for next several years.

By Year-End 2012, the MBA expects the benchmark 30 Year Fixed Rate Mortgage will rise to 4.3%.

By Year-End 2013, the MBA expects the benchmark 30 Year Fixed Rate Mortgage will rise to 4.7%.

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MBA Forecasts Increase in New Home Sales

Steven Schipper — Thu, 23 Feb 2012 17:56:51 +0000

February 16, 2012, The Mortgage Bankers Association (MBA) released their monthly Mortgage Finance Forecast. In their forecast the MBA made the following predictions for New Home Sales for next several years.

By Year-End 2012, the MBA expects new home sales to rise to a seasonally adjusted annualized rate of 324,000, which represents an increase of roughly 5% compared with the most recent quarter.

By Year-End 2013, the MBA expects new home sales to rise to a seasonally adjusted annualize rate of 395,000 which represents an increase of roughly 28% compared with the most recent quarter.

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MBA Forecasts Increase in Existing Home Sales

Steven Schipper — Thu, 23 Feb 2012 17:52:04 +0000

February 16, 2012, The Mortgage Bankers Association (MBA) released their monthly Mortgage Finance Forecast. In their forecast the MBA made the following predictions for Existing Home Sales for next several years.

By Year-End 2012, the MBA expects existing home sales to remain flat at a seasonally adjusted annualized rate of 4.40 million which represents a decrease of roughly 1.0% compared with the most recent quarter.

By Year-End 2013, the MBA expects existing home sales to rise to a seasonally adjusted annualize rate of 4.67 million which represents an increase of roughly 25% compared with the most recent quarter.

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