After forging past its benchmark value of 100 in March, April’s Pending Home Sales Index dropped back to 95.5.
Foreclosures filings fell 5 percent between March 2012 and April 2012, and 11 percent as compared to one year ago.
Mortgage markets worsened slightly last week as demand for mortgage-backed bonds slacked.
For the fifth consecutive week, conforming 30-year fixed rate mortgage rates have dropped to new all-time lows.
The April New Home Sales report suggests that the market for newly-built homes is as strong as the market for existing ones.
Low mortgage rates are helping to make homes more affordable. It appears home buyers have taken notice.
Never before in recorded history have so many homes been affordable to households earning a moderate annual income.
Mortgage rates fell to a new all-time low last week. Not everyone can get access, however.
The Federal Open Market Committee released its April 2012 meeting minutes this week, revealing a Federal Reserve in the ready for additional monetary stimulus.
The new construction housing market continues to improve.