- 12 Jun '19 at 3:10 pm #20939Helmholtz WatsonParticipant
Lower long term interest rates in the U.S….
[article]1557[/article]13 Jun '19 at 7:06 pm #20956ThePitBossParticipant
Going through the morning upgrades and downgrades and found this after this mortgage report:
Wedbush upgraded Lennar to ‘outperform’ from ‘neutral’
Wedbush upgraded the home builder based on mortgage rates at 2-year lows as well as a rebound in western markets.
“We are upgrading Lennar to OUTPERFORM from NEUTRAL and raising our PT to $62 from $50. With mortgage rates at 2-year lows, western markets rebounding, and continuing demand for affordable housing by multiple demographic groups, investors should be willing to pay a higher multiple for homebuilder earnings which is the reason for our higher PT and the upgrade. ”17 Jun '19 at 6:44 pm #20980
US June NAHB housing market index Falls 64 s 67 expected
Prior a seven-month high of 66
Single family builders 71 v 72 prior
Prospective buyers 48 v 49 prior
Home sales over next six months 70 v 72 prior
NAHB Housing Market Index in the United States averaged 50.37 from 1985 until 2019, reaching an all time high of 78 in December of 1998 and a record low of 8 in January of 2009.19 Jun '19 at 6:29 pm #20999
US MBA mortgage applications w/e. 14 June -3.4% v +26.8% prior
Week ending 14 June 2019
Purchase index 268.6 vs 278.4 prior
Market index 511.8 vs 529.8 prior
Refinancing index 1,888.8 vs 1,956.5 prior
30-year mortgage rate 4.14% vs 4.12% prior
Some air out of last week’s huge jump21 Jun '19 at 6:28 pm #21030
US May existing home sales 5.34m vs 5.30m expected, Prior 5.19m (revised up to 5.21m)
Sales up 2.5%
Sales of single family homes +2.6% to 4.75 million from – 0.9 percent decline in April
Sales of condo +1.7 percent to 0.59 million, after +7.4 % prior month.
The median house price increased to $277,700 from $266,900 in April and $265,100 a year earlier.
The months’ worth of supply went up to 4.3 from 4.2 in April.
Year-on-year, existing home sales dropped 1.1 percent. Existing Home Sales in the United States averaged 3958.46 Thousand from 1968 until 2019, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970.26 Jun '19 at 4:35 pm #21073
US MBA mortgage applications w.e. 21 June +1.3% v -3.4% prior
Latest data from the Mortgage Bankers Association for the week ending 21 June 2019
Purchase index 266.3 vs 268.6 prior
Market index 518.7 vs 511.8 prior
Refinancing index 1,949.5 vs 1,888.8 prior
30-year mortgage rate 4.06% vs 4.14% prior17 Jul '19 at 5:16 pm #21256
US MBA mortgage applications w/e 12 July -1.1% v -2.4% prior
Purchase index 265.1 v 275.6 prior
Market index 500.2 v 505.8 prior
Refinancing index 1,827.3 v 1,799.7 prior
30-year mortgage rate 4.12% v 4.04% prior17 Jul '19 at 5:22 pm #21257
[b]US housing starts for June 1253K vs 1260K estimate Down -0.9%.
Housing starts prior revised to 1265K from 1269K previously reported
single-family starts rise 3.5% to 847K
multi-family housing starts fall -9.2% to 406K
165K homes were authorized but not yet started, the fewest in a year, indicating builders have less of a backlog
US building permits for June 1220K vs 1300K estimate. Down -6.1%
Building permits prior revised to 1299K versus 1294K previously reported
Permits were at the lowest level since May 2017, as authorizations for the volatile multi-family housing segment declined 16.8 percent to 407 thousand while single-family permits rose 0.4 percent to 813 thousand.
Across regions, permits dropped in the South (-10.4 percent to 618 thousand); West (-7.9 percent to 313 thousand) and Midwest (-0.6 percent to 172 thousand) while increased at the Northeast (21.9 percent to 117 thousand).
Permits for May were revised to 1,299 thousand from 1,294 thousand.
Building Permits in the United States averaged 1355.22 Thousand from 1960 until 2019, reaching an all time high of 2419 Thousand in December of 1972 and a record low of 513 Thousand in March of 2009.
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