Monthly Archives: November 2013

Texas Mortgage Market Update – For the week of November 11, 2013

Texas Mortgage Market Update – For the week of November 11, 2013 – People who don’t believe in the housing recovery will no doubt ignore the latest proof of its strength. The National Association of Realtors (NAR) reported that most metro areas saw solid year-over-year price gains in the third quarter. The national median price posted its strongest annual growth in almost eight years. For existing single-family homes, the median price rose in 88% of the markets measured, based on Q3 closings, compared to last year. Continue reading

Texas Mortgage Market Update – For the week of November 4, 2013

Texas Mortgage Market Update – For the week of November 4, 2013 – This week we’ll have to be the candle that spreads light on the housing recovery, as the September Pending Home Sales Index didn’t shine too brightly. This measure of contracts signed on existing homes fell 5.6% from August to September, suggesting a dip in closings for that type of property during Q4. The September drop was put to a lower level of consumer confidence, plus higher mortgage rates and home prices, although home price gains also reassure buyers that they’re making an appreciating investment. Continue reading