By Arun Barman, Research Economist
Mortgage rates continue at 50-year lows. Such low rates are contributing to record housing affordability levels. Indeed, in April of this year, NAR’s housing affordability index registered a reading of 178.8 – the highest index figure since NAR began tracking the index in 1970.
However, the historically low mortgage rates only [...]
According to the UK’s Land registry, house prices have risen both in England and Wales for the first time since January 2008
June US home sales report. Mostly good and a bit of negative news.
The Women Rising Foundation is conducting a cell phone drive. Please bring your old cell phone, in working condition, to the Caldwell Banker Down Town Jersey City Office. Our friend and Women rising Board of Directors member Joni Vicente as well as yours truly will be happy to accept them. Our address is 120 Newark [...]
New Jersey launches 30-day speeding ticket frenzy. The state estimates that 9 million dollars will be generated in speeding tickets. One million dollars will go to pay state troopers over-time.
Sales of previously owned homes in the United States increased at a faster-than-expected annual pace in June, an industry survey showed Thursday, in the third straight month of gains.
The National Association of Realtors said sales rose 3.6 percent to an annual rate of 4.89 million units from a downwardly revised 4.72 million pace in May. [...]
The inaugural train ride from Hoboken to Giants stadium brought out the big shots including NJ Gov. Corzine (D), Hoboken Mayor Peter Cammarano, NY Jets owner Robert Wood Johnson IV, NY Giants owner John Mara and Congressman Steve Rothman . They were joined by a handful of Giants players eagerly awaiting the start of the [...]
Gov. Peterson gets involves himself in the WTC negotiations between Silverstein Properties and the Port Authority of New York and New Jersey
Despite high unemployment and general concerns of too much existing inventory, new-home construction appears to be rising.
According to Friday’s report from the U.S. Commerce Department, construction of new homes rose 3.6 percent in June compared to May. Building permits climbed 8.7 percent, and single-family home starts jumped 14.4 percent to 470,000, after rising 5.9 percent [...]
Lower interest rates have apparently spurred refinance activity but not new purchase loans.
