Rehoboth Beach Real Estate Blog - Existing Home Sales

Pending Home Sales Index Cruises To Multi-Year High

Posted by Bill Mann on January 4th, 2013

Home buyers continue to push the U.S. housing market forward. In November, for the second straight month, the Pending Home Sales Index eclipsed its benchmark reading of 100, posting a value of 106.4.

The Pending Home Sales Index (PHSI) is published monthly by the National Association of REALTORS®. It tracks homes under contract to sell, but not sold. The PHSI is relative index, comparing current contract activity to the activity of 2001 -- the first year for which "pending homes" were tallied for an index.

The Pending Home Sales Index has posted an average score of 100.2 from January 2012 through November 2012, the most recent month for which there's data. This is a significant data point because it means that the 2012 housing market is performing…

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What's Ahead for Mortgage Rates This Week: December 24, 2012

Posted by Bill Mann on December 24th, 2012

Mortgage markets worsened last week amid ongoing discussions budget and tax conversations in Washington, D.C., and the release of key housing and economic data.

Mortgage rates in Coastal Delaware climbed.

Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.37 percent nationwide for borrowers willing to pay an accompanying 0.7 discount points at closing, plus closing costs -- an increase of 0.05 percentage points from the week prior.

The average 15-year fixed rate mortgage rate was listed at 2.65 percent nationwide with an accompanying 0.7 discount points plus a full set of closing costs.

With certain government funding and tax reductions set to expire December 31, legislators appear unlikely to avoid what's been called the…

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