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Home Purchase Contracts Slow in August
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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 TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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Home Purchase Contracts Slow in August
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.
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Home Purchase Contracts Slow in August

Signed contracts to purchase existing homes declined for a third consecutive month in August according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).

The future contract signings indicator fell by 1.6 percent to 107.7 in August from 109.5 in July but was still 5.8 percent higher than in August of last year when the Index was at 101.8. It was the third consecutive month that the Index has fallen.

In May of this year, the Index had reached its highest level in over six years but has been on the decline since then.

Lawrence Yun, chief economist of NAR, stated, “Sharply rising mortgage interest rates in the spring motivated buyers to make purchase decisions, culminating in a six-and-a-half-year peak for sales that were finalized last month. Moving forward, we expect lower levels of existing-home sales, but tight inventory in many markets will continue to push up home prices in the months ahead.”

Three of the four regions in the Index posted declines in their monthly level of sales contract activity, while all four regions reported a higher level of contract signings when compared to a year ago.

The South posted the largest monthly decline, falling 3.5 percent from the previous month while the West followed with a decline of 1.7 percent.

The Midwest suffered the smallest decline of 1.4 percent while the Northeast reported the only increase of 4.0 percent.

The Midwest reported the largest increase in contract signings compared to August of last year with a 13.8 percent increase followed by the Northeast which reported a gain of 5.1 percent while the South and the West reported annual increases of 3.7 percent and 1.7 percent, respectively.

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

Source:
National Association of Realtors

Reported by Chris Moore

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Signed contracts to purchase existing homes declined for a third consecutive month in August according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).

The future contract signings indicator fell by 1.6 percent to 107.7 in August from 109.5 in July but was still 5.8 percent higher than in August of last year when the Index was at 101.8. It was the third consecutive month that the Index has fallen.

In May of this year, the Index had reached its highest level in over six years but has been on the decline since then.

Lawrence Yun, chief economist of NAR, stated, “Sharply rising mortgage interest rates in the spring motivated buyers to make purchase decisions, culminating in a six-and-a-half-year peak for sales that were finalized last month. Moving forward, we expect lower levels of existing-home sales, but tight inventory in many markets will continue to push up home prices in the months ahead.”

Three of the four regions in the Index posted declines in their monthly level of sales contract activity, while all four regions reported a higher level of contract signings when compared to a year ago.

The South posted the largest monthly decline, falling 3.5 percent from the previous month while the West followed with a decline of 1.7 percent.

The Midwest suffered the smallest decline of 1.4 percent while the Northeast reported the only increase of 4.0 percent.

The Midwest reported the largest increase in contract signings compared to August of last year with a 13.8 percent increase followed by the Northeast which reported a gain of 5.1 percent while the South and the West reported annual increases of 3.7 percent and 1.7 percent, respectively.

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

Source:
National Association of Realtors

Reported by Chris Moore

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

Signed contracts to purchase existing homes declined for a third consecutive month in August according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).

The future contract signings indicator fell by 1.6 percent to 107.7 in August from 109.5 in July but was still 5.8 percent higher than in August of last year when the Index was at 101.8. It was the third consecutive month that the Index has fallen.

In May of this year, the Index had reached its highest level in over six years but has been on the decline since then.

Lawrence Yun, chief economist of NAR, stated, “Sharply rising mortgage interest rates in the spring motivated buyers to make purchase decisions, culminating in a six-and-a-half-year peak for sales that were finalized last month. Moving forward, we expect lower levels of existing-home sales, but tight inventory in many markets will continue to push up home prices in the months ahead.”

Three of the four regions in the Index posted declines in their monthly level of sales contract activity, while all four regions reported a higher level of contract signings when compared to a year ago.

The South posted the largest monthly decline, falling 3.5 percent from the previous month while the West followed with a decline of 1.7 percent.

The Midwest suffered the smallest decline of 1.4 percent while the Northeast reported the only increase of 4.0 percent.

The Midwest reported the largest increase in contract signings compared to August of last year with a 13.8 percent increase followed by the Northeast which reported a gain of 5.1 percent while the South and the West reported annual increases of 3.7 percent and 1.7 percent, respectively.

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

Source:
National Association of Realtors

Reported by Chris Moore

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