Friday, July 29, 2011

MORE NEWS THIS WEEK

Phoenix Housing Market Shows Signs of Life - In June, Phoenix had the strongest resale activity in six years, helping to lift total sales from the year-ago month when federal tax credits were boosting the market. There were about 10,500 sales of new and existing houses and condos during June in the metro area covering Maricopa and Pinal counties, up 8.3% from May and 1.5% from June of last year, according to DataQuick, the real-estate research company based in San Diego. Read article:
http://blogs.wsj.com/developments/2011/07/27/phoenix-housing-market-shows-signs-of-life/

30-Year Fixed-Rate Mortgage Follows Treasury Yields Higher - Freddie Mac's Primary Mortgage Market Survey shows mortgage rates changing little for the week amid mixed macroeconomic data. 30-year fixed-rate mortgage (FRM) averaged 4.55% with an average 0.8 point for the week ending July 28, 2011, up from last week when it averaged 4.52%. Last year at this time, the 30-year FRM averaged 4.54%. Frank Nothaft, vice president and chief economist at Freddie Mac, reports, "Macroeconomic data released this week were a mixed bag. On the positive side, the index of leading indicators in June rose for the second consecutive month, beating the market consensus forecast." Read article:
http://realtytimes.com/rtpages/20110729_rates.htm

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