Inside Lending Newsletter

Texas Mortgage Market Update – For the week of November 26, 2012

Texas Mortgage Market Update - For the week of November 26, 2012 - We may not be standing in the middle of a fully recovered housing market, but we're clearly moving in that direction. Existing Home Sales were UP 2.1% in October, staying right near their highest level in over two years. Sales are up 10.9% from a year ago. The median price is now $178,600, up 11.1% over a year ago. And the supply of existing homes dropped from 5.6 to 5.4 months. The inventory of existing homes is down to 2.14 million, the lowest level since December 2002.

November 26, 2012|Inside Lending Newsletter|

Texas Mortgage Market Update – For the week of November 5, 2012

Texas Mortgage Market Update - For the week of November 5, 2012 - We hope that in the face of the tragedy of superstorm Sandy, those affected will find joy: in neighbors coming together showing strength in community; in the armies of emergency workers, both professionals and volunteers, toiling around the clock; in the heartfelt support of people across the country, expressed on social networks, via emails, on radio and TV. Our thoughts and prayers go out to all those now struggling to recover. If you'd like to contribute to the relief effort, a good place to start is the American Red Cross at http://www.redcross.org/charitable-donations.

November 5, 2012|Inside Lending Newsletter|

Texas Mortgage Market Update – For the week of October 29, 2012

Texas Mortgage Market Update - For the week of October 29, 2012 - The rest of the economy may be barely moving forward, but there's clearly some action in the housing market. New single-family home sales were up 5.7% for September and up 27.1% over a year ago. The seasonally adjusted annual rate of 389,000 units is the strongest sales pace since April 2010. The median sales price was $242,400, up almost 12% versus a year ago. 145,000 new homes were on the market, a 4.5 months' supply at the current sales rate, down from a record 12.1 months in January 2009.

October 29, 2012|Inside Lending Newsletter|

Texas Mortgage Market Update – For the week of October 22, 2012

Texas Mortgage Market Update - For the week of October 22, 2012 - If Apollinaire were alive today (he died in 1918), he might suggest we pause now and be happy, given that September Housing Starts were up 15% (11% for single-family starts) to an 872,000 annual rate. From a year ago, starts are up 34.8%, as builders are starting homes at the fastest pace since July 2008. Building permits for future construction were up 11.6% in September to an 894,000 annual rate. The total number of homes under construction is up 21% over a year ago, gaining 13 months in a row, which hasn't happened since the building boom of 2003–2004.

October 26, 2012|Inside Lending Newsletter|

Texas Mortgage Market Update – For the week of October 15, 2012

Texas Mortgage Market Update - For the week of October 15, 2012 - Opportunity is finally popping up all over the U.S. housing market. Confirmation of that fact came last week in the Federal Reserve's Beige Book, which contains anecdotal findings on the state of the economy in the Fed's 12 districts across the country. The Beige Book noted that even though economic activity has only modestly improved in recent months, the housing market has shown "widespread improvement."

October 15, 2012|Inside Lending Newsletter|

Texas Mortgage Market Update – For the week of October 8, 2012

Texas Mortgage Market Update - For the week of October 8, 2012 - Many observers feel we should be totally prepared for the housing recovery to continue. A major real estate portal reports list prices UP 2.5% in September versus a year ago, the biggest year-over-year boost since the housing recession started. Excluding foreclosures, list prices were UP 3.5% from a year ago. From July to August, those prices were UP 0.5%, their eighth straight month of gains. These numbers are causing experts to predict that 2012 will likely record the first calendar year list price increase since 2006, as gains were seen in 74 of the top 100 U.S. metros.

October 8, 2012|Inside Lending Newsletter|

Texas Mortgage Market Update – For the week of October 1, 2012

Texas Mortgage Market Update - For the week of October 1, 2012 - You could say New Home Sales fell on its face in August, as it was down 0.3% to a 373,000 annual rate. But confirming the sentiment of the above quote, New Home Sales are in fact moving forward--UP a nice 27.7% from a year ago and remaining near a two-year high, with every region up in the last year. Even better, the months' supply of new homes is at 4.5 and the median price of new homes sold hit $256,900, UP 11.2% for August, the largest monthly increase since 1963!

October 1, 2012|Inside Lending Newsletter|

Texas Mortgage Market Update – For the week of September 24, 2012

Texas Mortgage Market Update - For the week of September 24, 2012 - People indeed are astonished at how the housing market has started to recover and last week's data just kept the ball rolling. Builders are busier as housing starts are up 2.3% from July to August. They're now at a 750,000 annual rate, UP 24.5% over August 2011. Housing starts have been rising on an annual basis for the last 11 months and they're now UP 57% from their April 2009 bottom. No wonder builder confidence in September was up for the fifth month in a row, hitting its highest level since 2006.

September 24, 2012|Inside Lending Newsletter|

Texas Mortgage Market Update – For the week of September 17, 2012

Texas Mortgage Market Update - For the week of September 17, 2012 - Today's home buyers seem to be in the right place at the right time, as our already super low mortgage rates may go even lower. The impetus for this comes from the Fed's announcement last Thursday that they will purchase $40 billion a month of mortgage backed securities guaranteed by Fannie Mae and Freddie Mac. This is to keep downward pressure on interest rates to help boost the housing recovery. One observer expects to see "the lowest 30-year rates ever." Smart buyers will no doubt do something about that.

September 20, 2012|Inside Lending Newsletter|

Texas Mortgage Market Update – For the week of September 10, 2012

Texas Mortgage Market Update - For the week of September 10, 2012 - One of the key things remaining to be done to achieve a housing market recovery is a return to appreciating prices. Many observers feel prices have stabilized nationally and now we're seeing the first signs of some increases. A national real estate website reports the asking prices for homes for sale were up in August for the seventh month in a row. This put them UP 2.3% versus a year ago, the largest year-over-year gain since the housing downturn began.

September 11, 2012|Inside Lending Newsletter|

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