The National Association of Homebuilders recently released its Improving Markets Index for the month of February. The report attempts to identify U.S. metropolitan areas in which the economy is improving, demonstrating "measurable and sustained growth". 259 U.S. markets are qualified as "improving" this month, a 17-market jump from the month prior and includes participants from all 50 states as well as the District of Columbia. Experts point to improving market conditions in at least one market in all 50 states as a strong indication that the housing recovery is gaining substantial momentum. … [Read more...]
What’s Ahead For Mortgage Rates This Week : December 17, 2012
Mortgage bonds worsened last week, moving mortgage rates higher. Economic news was mostly positive and the Federal Open Market Committee (FOMC) changed some of Wall Street expectations for future monetary policy. Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.32 percent nationwide for borrowers willing to pay an accompanying 0.7 discount points plus closing costs. The average 15-year fixed rate mortgage rate was listed at 2.66 percent nationwide with an accompanying 0.6 discount points plus closing costs. Both mortgage rates had climbed by week's end, however. Mortgage … [Read more...]
Improving Market Index : Up To 201 Cities For December 2012
Last week's National Association of Home Builders/First American Improving Markets Index (IMI) brought positive news about U.S. housing markets and the broader U.S. economy, in general. According to the IMI, there are now 201 U.S. markets which can be considered "improving". To meet this standard, a local area economy must exhibit at least six consecutive months of improvement in terms of local employment, single-family housing permits and area home prices; and, at least six months must have passed since each of these readings were at their respective low points, called troughs. The Improving … [Read more...]
Improving Market Index Swells To 125 In November
The U.S. economy continues to improve. The National Association of Homebuilders released its Improving Markets Index Tuesday. The report attempts to identify U.S. metropolitan areas in which the economy is improving, demonstrating "measurable and sustained growth". 125 U.S. markets are qualified as "improving" this month, a 22-market jump from the month prior and and all-time high for the index which launched late last year. Compared to November 2011, this month's IMI has climbed more than four-fold, rising from last year's reading of 30. This jump suggests that housing recovery is firmly … [Read more...]
103 Metro Areas On The “Improving” U.S. Markets List
It's not just the housing market that's improving nationwide -- it's the economy overall. The number of U.S. metropolitan areas showing "measurable and sustained growth" climbed to 103 this month. The data is measured by the Improving Markets Index, a monthly metric from the National Association of Homebuilders. The Improving Market Index is meant to identify which U.S. markets are experiencing broad economic growth -- not just growth in terms of housing. The index's conclusions are based on three data series -- each collected separately; each from a different division of the U.S. government; … [Read more...]
