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Pending Home Sales Rebound in May
HOW LOANRATEUPDATE WORKS
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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
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Pending Home Sales Rebound in May
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
Pending Home Sales Rebound in May

June 29, 2011 (Chris Moore)

The Pending Home Sales Index (PHSI) rebounded in May as contract signings increased 8.2 percent to 88.8 after falling 11.3 percent from an upwardly revised 82.1 in April according to the National Association of Realtors (NAR).

The PHSI is 13.4 percent higher than May of 2010 which is the first time in a year that contract activity was above year-ago levels. The year-over-year increase reflects the sudden drop in purchasing activity after the end of the first-time home buyer’s tax credits.

In April 2010, when home buyers were rushing to take advantage of the tax credits before they ended, the Index jumped to 111.5. But in the following month of May, home sales tumbled following the end of the stimulus and the Index plummeted to 78.3.

Lawrence Yun, chief economist for NAR, continued to cast part of the blame on overly strict underwriting standards by saying, “Home sales still could be 15 to 20 percent higher. If banks would simply return to normal sound underwriting standards and begin lending to more creditworthy borrowers, we’d get a much faster recovery in the housing sector.”

Regionally, pending home sales in the Northeast rose 7.3 percent to 69.2 in May and is 4.4 percent above a year ago and in the Midwest sales jumped 10.5 percent to 82.8 and is 17.2 percent higher than May 2010.

In the South, pending home sales increased 4.1 percent to an index of 95.0 in May and are 14.6 percent higher than a year ago and in the West sales surged 12.9 percent to 100.6 and is 13.5 percent above May 2010.

Tags: pending home sales, NAR, contract signings, first-time home buyers, underwriting standards, tax credits

Source:
NAR

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June 29, 2011 (Chris Moore)

The Pending Home Sales Index (PHSI) rebounded in May as contract signings increased 8.2 percent to 88.8 after falling 11.3 percent from an upwardly revised 82.1 in April according to the National Association of Realtors (NAR).

The PHSI is 13.4 percent higher than May of 2010 which is the first time in a year that contract activity was above year-ago levels. The year-over-year increase reflects the sudden drop in purchasing activity after the end of the first-time home buyer’s tax credits.

In April 2010, when home buyers were rushing to take advantage of the tax credits before they ended, the Index jumped to 111.5. But in the following month of May, home sales tumbled following the end of the stimulus and the Index plummeted to 78.3.

Lawrence Yun, chief economist for NAR, continued to cast part of the blame on overly strict underwriting standards by saying, “Home sales still could be 15 to 20 percent higher. If banks would simply return to normal sound underwriting standards and begin lending to more creditworthy borrowers, we’d get a much faster recovery in the housing sector.”

Regionally, pending home sales in the Northeast rose 7.3 percent to 69.2 in May and is 4.4 percent above a year ago and in the Midwest sales jumped 10.5 percent to 82.8 and is 17.2 percent higher than May 2010.

In the South, pending home sales increased 4.1 percent to an index of 95.0 in May and are 14.6 percent higher than a year ago and in the West sales surged 12.9 percent to 100.6 and is 13.5 percent above May 2010.

Tags: pending home sales, NAR, contract signings, first-time home buyers, underwriting standards, tax credits

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

June 29, 2011 (Chris Moore)

The Pending Home Sales Index (PHSI) rebounded in May as contract signings increased 8.2 percent to 88.8 after falling 11.3 percent from an upwardly revised 82.1 in April according to the National Association of Realtors (NAR).

The PHSI is 13.4 percent higher than May of 2010 which is the first time in a year that contract activity was above year-ago levels. The year-over-year increase reflects the sudden drop in purchasing activity after the end of the first-time home buyer’s tax credits.

In April 2010, when home buyers were rushing to take advantage of the tax credits before they ended, the Index jumped to 111.5. But in the following month of May, home sales tumbled following the end of the stimulus and the Index plummeted to 78.3.

Lawrence Yun, chief economist for NAR, continued to cast part of the blame on overly strict underwriting standards by saying, “Home sales still could be 15 to 20 percent higher. If banks would simply return to normal sound underwriting standards and begin lending to more creditworthy borrowers, we’d get a much faster recovery in the housing sector.”

Regionally, pending home sales in the Northeast rose 7.3 percent to 69.2 in May and is 4.4 percent above a year ago and in the Midwest sales jumped 10.5 percent to 82.8 and is 17.2 percent higher than May 2010.

In the South, pending home sales increased 4.1 percent to an index of 95.0 in May and are 14.6 percent higher than a year ago and in the West sales surged 12.9 percent to 100.6 and is 13.5 percent above May 2010.

Tags: pending home sales, NAR, contract signings, first-time home buyers, underwriting standards, tax credits

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