According to Fannie Mae, Americans believe their salaries and home prices will rise this year. The number of homeowners underwater also dropped. -kpanchuck@housingwire.com
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HousingWire reports all 50 states are reporting signs of housing recovery, that's 259 metro areas! Newly added metros include locations such as Rome, Ga., Fort Wayne, Ind., Myrtle Beach, S.C., Albuquerque, N.M. and Racine, Wis.
More than 70% of the 361 metros covered by the IMI are listed as improving this month, noted NAHB Chief Economist David Crowe. "That's a far cry from when we initiated this index with just 12 improving metros in September of 2011 for the purpose of highlighting places that didn't fit the mold of the national headlines.”
For a full list of improving metro areas: http://www.nahb.org/reference_list.aspx?sectionID=2223
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Major news outlets are reporting that the U.S. Postal Service will end Saturday home delivery of letters and other first-class mail, but will still deliver packages, starting in August 2013.
And this with higher priced stamps. If the congress would just change the requirements to what all other federal agencies are required in accounting, there wouldn't be a problem. Is the congress or any other federal entity trying to get rid of the Postal Service?
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The average contract interest rate for a 30-year, FRM with a conforming loan balance grew to 3.73% from 3.67%, while the average 30-year, FRM with a jumbo loan balance edged up to 3.96% from 3.95% in the last week.
The Mortgage Bankers Association's market composite index – a measure of loan application volume – grew 3.4% over the previous week. -kpanchuck@housingwire.com
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Did you know that on Sept 6, 2012, Russia and China quietly signed a declaration of war on the US?
But did you also know that for the last, at least, 15 yrs, Venezuela has had a declaration of war on all of its seven neighbors?
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Hedge funds and private equity firms are buying up property of all types in the hardest hit states. They see large profit at the bottom of the market. Don't know how long this buying spree will last.
--CNN Money
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Home building increases 12% over last year.
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