US new home sales for October were 745K vs 800K estimate. The prior month of 800K was revised sharply lower to 742K) However, the median sales price increased to $407,700 in October, the highest on record. That was the largest increase in the median sales price on record as it increased to $407,700 in October. October US New Home Sales US October new home sales 745K vs 800K expected Prior 800K (revised to 742K) On a year-over-year basis, new home sales … Continue reading “US New Home Sales Miss Forecasts in October, Revised Lower in September”
Mortgage Rates Continue To Rise, Hitting 8 Month High Sending Refinance Volume Down 26%
Mortgage applications in the US rose 4% as Mortgage rates rose to an 8-month high. The average 30-year fixed-rate mortgages increased to 3.30% from 3.23%. Refinance share of mortgage activity decreased to 62.2% of total applications from 63.3%.
Mortgage Applications Fell for the 4th Consecutive Week on Rising Rates
Mortgage applicationsin the US fell for the 4th consecutive decline, as higher mortgage rates started to dent the housing market. Applications fell 2.2 percent in the week ended March 26th, 2021. The average 30-year fixed-rate mortgages edged down to 3.33% from 3.36%, the highest since the beginning of June last year.
KB Homes Robust Orders Deliver Highest Backlog in Last 15 Years
KB Homes reported better than expected Q1 earnings after the market Tuesday on lower than expected revenue from the weatherand power issues in Texas. The stock was higher with other homebuilders after robust order numbers. $KBH had the company’s highest backlog level in the last 15 years.
KB Homes Earnings Rise Along With Stronger US Home Sales
KB Homes reported better than expected Q3 earnings after the market Tuesday. The stock jumped 3% after it had been bid up over 4% with other homebuilders after a robust existing housing sales number before the report. A rise in homesales since the COVID lockdown has suprised many experts..
Mortgage Applications Steady After Refinancing Surge
US MBA mortgage applications for the week ending 17 January 2020 were down 1.2% after last week’s huge 30.2% pump. Mortgage rates were steady under 4% fueling the activity.
Mortgage Applications Rise Again As Rates Falls Back Down
US MBA mortgage applications for the week ending 27 September jumped 8.1% after slumping =10.1% the prior week. Mortgage rates fell back under 4% fueling the activity.
Mortgage Refinancing at Three Year High as Rates Slide Down
US MBA mortgage applications for the week ending 9 August jumped 21.7% up from a rise of 5.3% the prior week. With mortgage rates back to a three year low refinancing activity surged to a three year high fueling the activity.
KB Homes Earnings Surprise After Homebuilder Selloff
KB Homes reported better than expected Q2 earnings after the market Thursday. The stock jumped 7% after it had been sold off with other homebuilders after Lennar’s $LEN conference call. A decline in homebuilding revenue has hurt the top line in the past year.
Lennar Guides Lower on Weaker West Sales and Order to Delivered Home Ratio
Lennar Corporation reported better than expected Q2 earnings Tuesday. However $LEN reversed sharply lower after guiding lower in their conference call and May new home sales showed a big miss in the west.