Mortgage market update from Chris Nooney at Prime Lending: INFO THAT HITS US WHERE WE LIVE…Enough people were motivated to buy new homes in October to push monthly sales up 1.3% to a 307,000 annual rate. Even better, the motivation was strong enough to send the median price to $212,300, UP 4% over a year … Continue reading Galveston Real Estate and Galveston Condos – Mortgage Market Update

Mortgage Market Update from Chris Nooney at Prime Lending: INFO THAT HITS US WHERE WE LIVE…Last week’s housing news did give all of us in the industry a few more things to hang onto. First, we saw new single-family home sales go up 5.7% in September, to a 313,000 annual rate. Next, it was nice … Continue reading Galveston Real Estate and Galveston Condos – Mortgage Market Update

Mortgage market update from Chris Nooney at Prime Lending: INFO THAT HITS US WHERE WE LIVE…What didn’t make sense last week was the way the media reported the latest housing data. Housing Starts were UP a strong 15% in September, hitting a 658,000 annual rate. But the media chose to emphasize that the gain was … Continue reading Galveston Real Estate and Galveston Condos – Mortgage Market Update

Mortgage Market Update from Chris Nooney at Prime Lending: INFO THAT HITS US WHERE WE LIVE…One dream that, happily, doesn’t seem to be going away is the one we Americans have of owning our own home. In fact, in spite of all the negative news we hear about housing, the percentage of Americans who own … Continue reading Galveston Real Estate and Galveston Condos – Mortgage Market Update

Mortgage market update from Chris Nooney and Prime Lending: INFO THAT HITS US WHERE WE LIVE…The week before last, the Fed announced ‘Operation Twist,’ where they’ll switch their short term bond holdings to longer term maturities. This strategy wasted no time benefitting mortgage rates. Last week, national average mortgage rates were the lowest since Freddie Mac’s weekly … Continue reading Galveston Real Estate and Galveston Condos – Mortgage Market Update

Galveston real estate and Galveston condos – Mortgage market update from Chris Nooney at Prime Lending: INFO THAT HITS US WHERE WE LIVE…One result we care a lot about is a turnaround for new homes. We haven’t attained it quite yet, with New Home Sales down 2.3% in August, at a 295,000 annual rate. This … Continue reading Galveston Real Estate and Galveston Condos – Mortgage Market Update