Tag Archive for Lows

Housing Prices Rise In Response to Reduced Supply, Higher Employment

No, this is not an April Fools joke. In a surprising turn of events, listing prices rose sharply in March. It could be a case of hope springs eternal, but may also be a result of less foreclosure inventory on the market and a strong gain in total employment in March. The reduction in supply…

Homebuilder Perceptions Better but Conditions Really Worse

“U.S. Homebuilder Confidence Rises in March to Highest Level in 10 Months,” screamed the Bloomberg headline this morning. It left out the fact that the readings were barely above 20 year lows. This is one of the most important indicators of the housing market because it represents the perceptions of direct market participants and because…

Bank, FCB No Show Puts Fed in Panic – Professional Edition

The Fed’s program of money printing was designed to add $600 billion in Treasuries to the System Open Market Account (SOMA) while replacing the MBS that were being paid off from its balance sheet. Last summer’s refinancing boom had triggered a wave of MBS prepayments. When mortgage rates rose in November and December, refinancing dried…