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Builder Confidence Rises To Highest Level Since 2007

Builder confidence in the market for newly built, single-family homes rose five points to 29 in May, according to the National Association of Home Builders Housing Market Index. The improvement brought the index to its highest level since May 2007. Barry Rutenberg, chairman of the NAHB, said builders are reporting a pickup in sales and traffic after a pause in April. According to Rutenberg, it’s a sign that the upward trend in confidence that began earlier this year has resumed and that stabilizing prices and excellent affordability are encouraging people to purchase homes. Each of the component indexes measuring current sales, traffic, and expectations for the next six months rose in May after declining in April. More here.

Improving Markets List Holds Steady In May

The National Association of Home Builders’ Improving Markets Index held steady at 100 in May, down from 101 in April. The number of represented states was also virtually unchanged from the month before at 35. The index determines improving housing markets based on metropolitan areas that have had at least six consecutive months of improved housing permits, employment, and home prices. In May, 17 new metros were added to the list, while 83 cities carried over from April. Barry Rutenberg, NAHB’s Chairman, said the fact that there are 100 markets across 35 states that are improving illustrates that the health of the housing market is determined by individual metropolitan areas more than national data. More here.

Builder Confidence Slips For First Time In Seven Months

According to the National Association of Home Builders’ Housing Market Index, builder confidence slipped three points to 25 in April, the first decline after seven consecutive months of gains. The index measures builders’ perception of the market for newly built, single-family homes on a scale where any number below 50 indicates more builders view conditions as poor than good. David Crowe, NAHB’s chief economist, said the decline is a pause in what has been a fairly rapid build-up in confidence since last September. According to Crowe, despite increased interest from potential buyers, builders have yet to see that interest translate into sales activity. Still, regional results show that most of the decline was felt in the Midwest, where confidence was down eight points. The Northeast posted a four point gain and reached its highest level since May 2010. The West was unchanged at 32 and the south dropped three points to 24.

Improving Markets Index Hits 101 In April

The National Association of Home Builders/First American Improving Markets Index identifies metropolitan areas that have seen growth in housing permits, employment, and home prices for at least six straight months. In April, the index hit 101 moving up two from the previous month. Barry Rutenberg, the NAHB’s chairman, said a total of 35 states are now represented on the list, with 10 states having four or more entries. Rutenberg says the improvement means at least 101 individual metros are showing measurable and consistent signs that they are headed in the right direction. In April, 13 metros were added to the list while 11 markets fell off the list. A total of 88 metropolitan areas held on to their spot from the month before. More here.

Builder Confidence At Highest Level Since 2007

Builder confidence in the market for new single-family homes is twice as strong as it was six months ago and at its highest level since 2007. The latest National Association of Home Builders Housing Market Index, which measures builders’ expectations and perceptions, was unchanged from last month. Barry Rutenberg, chairman of the NAHB, said builders are still cautious but there’s a sense that many local housing markets have started to move in the right direction and that prospects for future sales are improving. The component gauging builders expectations for sales over the next six months was up for the six consecutive month, rising two points from the month before. Regionally, the Index was up in the Northeast, South, and Midwest but down in the West. More here.

Improving Markets Index Reaches 99 In March

The National Association of Home Builders Improving Markets Index climbed to 99 in March, up from 98 in February. The index, which measures improvement in housing permits, employment, and prices, now includes 33 states with at least one housing market on the list and 10 with four or more improving metropolitan markets represented. David Crowe, NAHB’s chief economist, said the bottom line is that roughly one quarter of all U.S. metropolitan areas are showing signs that their housing markets have turned the corner. San Antonio and Austin, Texas; Orlando, Fla.; Rochester, N.Y.; and Columbus, Ohio were all among the notable new additions to the improving markets index in March. More here.

Builder Confidence Hits Four Year High In February

Builder sentiment rose for the fifth consecutive month in February, according to the National Association of Builders’ Housing Market index. The index measures builder confidence in the market for newly built, single-family homes on a scale where any number over 50 means more builders view the market as good than poor. In February, the index rose from 25 to 29 and reached its highest level in more than four years. David Crowe, NAHB’s chief economist, said this is the longest sustained improvement the index has seen since 2007 but cautioned that the HMI is still low. Still, builder confidence has now doubled since last September. The gauges measuring current sales and expectations for the next six months both rose by five points in February. More here.

Photo by Jared Frazer/Flickr

Photo by Jared Frazer/Flickr

Improving Markets Index Adds 29 Metros In February

The National Association of Home Builders/First American Improving Markets Index rose by 29 metropolitan areas in February bringing the total number of entries to 98. There are now 36 states represented by at least one metro market. The index identifies cities that have shown improvement in housing permits, employment, and prices for at least six consecutive months. Bob Nielsen, NAHB’s chairman, said the number of improving housing markets has risen for six consecutive months indicating that improving conditions are slowly but surely spreading from one housing market to the next. New entries to the list include Miami, Boston, Detroit, Kansas City, Portland, Memphis, and Salt Lake City. More here.

Number Of Improving Markets Nearly Doubles In January

The National Association of Home Builders/First American Improving Markets Index identifies metro areas that have improved based on housing permits, employment data, and house prices for at least six straight months. In January, the list of improving markets jumped to 76 from 41 in December. Bob Nielsen, NAHB’s chairman, said the fact that the list of improving housing markets nearly doubled in January shows a significant positive trend is developing and is made more significant by the geographic distribution of the list. As of January, the NAHB’s list has expanded to include markets in 31 states and the District of Columbia. In addition to geographic diversity, the index, which has been dominated by smaller markets, now includes more major cities such as Philadelphia, Dallas, Denver, Nashville, and Minneapolis. It was the fifth consecutive month the index has increased. More here.

Builder Sentiment Hits Highest Level Since May 2010

The National Association of Home Builders/Wells Fargo Housing Market Index measures builder confidence in the market for newly built, single-family homes. In December, the index improved for the third straight month and reached its highest point since May 2010. David Crowe, NAHB’s chief economist, said it was the first time that builder confidence has improved for three consecutive months since mid-2009, signifying a legitimate, though slowly emerging, upward trend. Each of the three component indexes registered gains in December, with the component gauging traffic of prospective buyers up three points to its highest level since 2008. Builder confidence was strongest in the south, where it rose four points. More here.

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About Mount Olympus Mortgage Company:

The Mount Olympus leadership team has a combined lending experience of over 130 years. Our goal is to deliver accurate information, competitive rates, and a transparent process for our clients. Along with full compliance of new, stricter Federal regulations, we’ve implemented our own internal quality control policies as an extra layer of consumer protection.
*All of our mortgage bankers are SAFE Act licensed
In 2008 the Federal government enacted a new federal licensing requirement known as the SAFE Act. It establishes minimum standards for licensing which include background checks, credit checks, testing, ongoing education requirements and registration of loan originators in order to enhance consumer protection. All of our mortgage bankers are SAFE Act licensed and registered. We comply with all federal licensing, state licensing and lending policies. Click Here for the National Mortgage License System & Registry Consumer Access.
*We comply with a strict “no-steering policy”
None of our employees are incentivized to put you in one loan program over another. Our loan process is always looking out for your best interest.
*We provide an upfront and honest Good Faith Estimate (GFE)
New federal regulations require lenders to provide customers a standardized Good Faith Estimate or GFE when disclosing rate and fees. The new and improved GFE is designed to make all lenders conform to a standardized document. This guarantees that upfront third party fee quotes are within 10% of the actual fees charged at closing. At MOMco, transparency is key to earning the trust of our clients.

About MOMco

Mount Olympus Mortgage Company ("MOMco") maintains its headquarters in Irvine, California. With extensive knowledge in both conventional and government financing, MOMco has been driving the change toward responsible lending and increased efficiency.
The home loan industry has changed dramatically in recent months and we at MOMco are here to help you navigate through it. Whether it is higher loan limits or the changing landscape of the mortgage market as a whole, MOMco is here to help you wrap your arms around the changes and select the best loan program to fit you and your family's financial situation.

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Irvine, CA 92612
Office: 949-453-8700
Toll-Free: 888-453-4659
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