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Home Purchase Contracts Rise for Second Consecutive Month
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
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.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Home Purchase Contracts Rise for Second Consecutive Month
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
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.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Home Purchase Contracts Rise for Second Consecutive Month

January 12, 2012 (Chris Moore)

Home buyers who have been waiting on the sidelines watching mortgage rates fall to record lows and housing prices sinking to their lowest levels in almost a decade may finally be jumping into the market as contract signings for home purchases increased for the second consecutive month according to the National Association of Realtors® (NAR)

Contract signings rose by 7.3 percent in November as the Pending Home Sales Index (PHSI) increased from 93.3 in October to 100.1, which follows a 10.4 percent increase in October.

The increase in contract activity in November lifted the Index 5.9 percent higher than last year when it stood at 94.5. NAR said that some of the gains may have resulted from delayed contracts from buyers who recommitted after running into previous contract problems, but it was still welcome news.

Lawrence Yun, chief economist of NAR, stated, “Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high. November is doing reasonably well in comparison with the past year. The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead.”

Turning contract signings into closed deals continues to remain a challenge for NAR members. For the second consecutive month, nearly one in three NAR members reported at least one contract cancellation in November. (See: Contract Failures Remain Elevated for the Second Consecutive Month)

“Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage,” Yun added.

All four of the regions in the Index posted an increase in their monthly level of sales contract activity and three of the four regions were higher than the levels posted a year ago.

In the Northeast, monthly contract signings increased by 8.1 percent to 77.1 and was the only region to post a decline from a year ago of 0.3 percent. The West region posted the largest increase in monthly contract signings, rising 14.9 percent to 121.2, and was 2.9 percent higher than in November of 2010.

In the South, monthly contract signings rose 4.3 percent to 103.8 and was 8.7 percent higher than November 2010, and in the Midwest, the Index increased 3.3 percent to 91.6 and was 9.5 percent higher than a year ago.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future.

Tags: pending home sales, existing home sales, contract signings, contract cancellations

Source:
NAR

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

January 12, 2012 (Chris Moore)

Home buyers who have been waiting on the sidelines watching mortgage rates fall to record lows and housing prices sinking to their lowest levels in almost a decade may finally be jumping into the market as contract signings for home purchases increased for the second consecutive month according to the National Association of Realtors® (NAR)

Contract signings rose by 7.3 percent in November as the Pending Home Sales Index (PHSI) increased from 93.3 in October to 100.1, which follows a 10.4 percent increase in October.

The increase in contract activity in November lifted the Index 5.9 percent higher than last year when it stood at 94.5. NAR said that some of the gains may have resulted from delayed contracts from buyers who recommitted after running into previous contract problems, but it was still welcome news.

Lawrence Yun, chief economist of NAR, stated, “Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high. November is doing reasonably well in comparison with the past year. The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead.”

Turning contract signings into closed deals continues to remain a challenge for NAR members. For the second consecutive month, nearly one in three NAR members reported at least one contract cancellation in November. (See: Contract Failures Remain Elevated for the Second Consecutive Month)

“Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage,” Yun added.

All four of the regions in the Index posted an increase in their monthly level of sales contract activity and three of the four regions were higher than the levels posted a year ago.

In the Northeast, monthly contract signings increased by 8.1 percent to 77.1 and was the only region to post a decline from a year ago of 0.3 percent. The West region posted the largest increase in monthly contract signings, rising 14.9 percent to 121.2, and was 2.9 percent higher than in November of 2010.

In the South, monthly contract signings rose 4.3 percent to 103.8 and was 8.7 percent higher than November 2010, and in the Midwest, the Index increased 3.3 percent to 91.6 and was 9.5 percent higher than a year ago.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future.

Tags: pending home sales, existing home sales, contract signings, contract cancellations

Source:
NAR

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

January 12, 2012 (Chris Moore)

Home buyers who have been waiting on the sidelines watching mortgage rates fall to record lows and housing prices sinking to their lowest levels in almost a decade may finally be jumping into the market as contract signings for home purchases increased for the second consecutive month according to the National Association of Realtors® (NAR)

Contract signings rose by 7.3 percent in November as the Pending Home Sales Index (PHSI) increased from 93.3 in October to 100.1, which follows a 10.4 percent increase in October.

The increase in contract activity in November lifted the Index 5.9 percent higher than last year when it stood at 94.5. NAR said that some of the gains may have resulted from delayed contracts from buyers who recommitted after running into previous contract problems, but it was still welcome news.

Lawrence Yun, chief economist of NAR, stated, “Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high. November is doing reasonably well in comparison with the past year. The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead.”

Turning contract signings into closed deals continues to remain a challenge for NAR members. For the second consecutive month, nearly one in three NAR members reported at least one contract cancellation in November. (See: Contract Failures Remain Elevated for the Second Consecutive Month)

“Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage,” Yun added.

All four of the regions in the Index posted an increase in their monthly level of sales contract activity and three of the four regions were higher than the levels posted a year ago.

In the Northeast, monthly contract signings increased by 8.1 percent to 77.1 and was the only region to post a decline from a year ago of 0.3 percent. The West region posted the largest increase in monthly contract signings, rising 14.9 percent to 121.2, and was 2.9 percent higher than in November of 2010.

In the South, monthly contract signings rose 4.3 percent to 103.8 and was 8.7 percent higher than November 2010, and in the Midwest, the Index increased 3.3 percent to 91.6 and was 9.5 percent higher than a year ago.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future.

Tags: pending home sales, existing home sales, contract signings, contract cancellations

Source:
NAR

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS