Results from a Federal Reserve survey of senior bank loan officers indicated that lenders have held the line on prime lending standards and have raised standards for sub-prime and non-traditional home loans.
Results from a Federal Reserve survey of senior bank loan officers indicated that lenders have held the line on prime lending standards and have raised standards for sub-prime and non-traditional home loans.
Last week’s economic news included several reports related to housing and mortgages. The NAR started the week on a positive note with its Pending Home Sales Index released Monday. Pending home sales in March were higher with an unexpected increase of 3.40 percent over February for an index reading of 97.40.
Last weekâs economic news supported recent reports that home sales were fewer and home prices increased, but did so at a slower pace.
Last week’s economic news included readings on February construction spending and multiple reports on employment data. Private sector employment was higher in March, but The Bureau of Labor Statistics reported that Non-Farm Payrolls for March fell short of expectations.
Last week’s economic news includes several reports about housing markets.
The S&P Case-Shiller 10 and 20 city housing market indices, the FHFA House Price Index, New Home Sales and Pending Home sales reports suggest that the national housing market continues to grow, but at lower rates.
Last week’s economic reports provided rays of light as compared to the recent slump in positive economic news.
With spring on the horizon, last week’s economic news showed welcome signs of growth.
Last week’s economic news included construction spending and the CoreLogic Home Price Index for January. Reports for February included ADP Employment, Non-Farm Payrolls and national unemployment data.
Mortgage rates worsened for the week ending February 8, 2013 in response to strong economic data in the US and abroad.
The Improving Market Index added 76 metropolitan areas in December as compared to the month prior.
The Federal Open Market Committee (FOMC) begins a 2-day meeting today, its last of 8 scheduled meetings this year.
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