The Pending Home Sales Index rose sharply in March

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Mortgage and Lending NMLS 291249

 

Pending-Home Sales Leap Ahead in March: NAR 
MORTGAGE LOCK ADVISORY
 

April 26,27, 2012, 8:00 AM PST

Click for Lock Advice Updated Several Times Daily  

      

Mortgage Interest Rate lock Advice for locks within 8 days: FLOAT

Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.02 point 

 

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK 

Rates are presently excellent and the best advice is to lock whenever possible

 

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.88%
MBS (3.5%) - 103.67, High: 103.72, Low: 103.59   
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Asian & European Stock Market Indexes Up 0.717%   
Nymex Crude Oil Currently $104.42 Down $0.13   
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MORTGAGE NEWS BRIEFS
 

The Pending Home Sales Index rose sharply in March to 101.4 from February's revised 97.4, the National Association of Realtors said Thursday. Economists had expected the Index to increase 1.0 percent from February. The index is now at the highest level since April 2010 when it reached 111.3. The index improved for the third straight month and fifth time in the last six month. The March reading is up 12.8 percent from March 2011, the strongest year-over-year gain since last July. The PHSI has been drifting upward, albeit modestly for most of the past two years. » Read More MReport 

 

Jobless claims decline slightly: By Kerry Curry* April 26, 2012
 
Jobless claims declined slightly, by 1,000 during the week ending April 21, according to the Bureau of Labor Statistics. The slight change may suggest a cooling off of the economy recovery. >>Read More Housing Wire

 

S&P, FHFA Home Price Indices Show Mixed Results
 
Two major home price indices released this morning indicate that, while home prices are improving the changes are slow and relative . The Federal Housing Finance Agency's (FHFA) Home Price Index rose 0.3 percent on a seasonally adjusted basis from January to February while S&P/Case Shiller 10-City and 20-City Composite indices showed annual losses of 3.6 percent and 3.5 percent respectively, an improvement over losses posted in January of 4.1 and 3.9 percent. >> Read More Mortgage Daily News

 

Short Sales Gaining on REO Sales as "Change is Afoot"
 
"A change is afoot when it comes to short sales," RealtyTrac said on Thursday, releasing new data which indicate, based on January's numbers, that pre-foreclosure sales (most of which are so-called short sales) in the first quarter were the highest since the first quarter of 2009. Read More Mortgage Daily News

 

Debt Crises Inspire 6.9% Pick-Up in Loan Volume: By: Ryan Schuette 
 
Debt crises in Europe spurred a wave of refinance applications last week, leading mortgage loan applications to tick up by 6.9 percent, according to the Mortgage Bankers Association (MBA) Read More MReport

 

Zillow Adds Real Estate Agent Hub to Online Offerings
 
Rolling out a new online platform for real estate agents, Zillow, Inc., recently announced the launch of Agent Hub. Zillow's tool will give users a place to find and manage information from the website in one location.  »Read More MReport

 

Romney's Mortgage-Tax Reduction Plan Is a Drop in the Bucket By Deborah Solomon
 
Mitt Romney, the presumptive Republican presidential nominee, was overheard this weekend saying he'd tinker with the ever-popular mortgage-interest tax deduction to help achieve his goal of cutting individual tax rates across the board by 20 percent.
>> Read More Bloomburg

  

How you do write an offer so it will NOT be immediately Rejected
 
Great tips for home buyers and buyer's agents by Steve Mun a successful San Jose Listing agent. It is also helpful to read the blog comments >>Read More ActiveRain

 

Social-Media Strategy: What You Need Now To Build Business Online
Now you won't need a dozen social-media sites to properly harness the power of the Internet and propel your business forward. You may, however, want to consider your choices, your purposes, and which options make the most sense for your business and what you'd like to accomplish.>>Read More The Ibis Network  

 

FHA delays controversial $1,000 collections rule By Jon Prior
The Federal Housing Administration rescinded and will delay a rule that as of April 1 prohibited borrowers with more than $1,000 in disputed collections accounts from getting a federally backed mortgage, according to a notice sent late Friday >> Read More HousingWire 

 

Four Ways to Give A Great Elevator Speech

Do you need an elevator speech? Probably, if you ever encounter people who might be potential clients or referrals. Here are four steps to creating the perfect elevator speech: >>Wayne and Jean Marie Zuh 

 

3 Reasons Why You Need an Elevator Speech

An elevator speech is a 30-120 second explanation of what you do that you may make to a person you meet in an elevator, perhaps, or at the checkout line at the grocery store or just about anywhere. Wayne and Jean Marie Zuh

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