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JOSH WISE  Branch Manager direct: (317) 759-2849 cell: (317) 258-6303 fax: (317) 489-5230 NMLS: 990676 1644 Fry Rd Greenwood, IN 46142 Email Me Visit My Website

Housing starts saw a significant drop, while first-time unemployment claims plummeted to a 14-year low, and consumer prices dropped to their lowest point in more than a year. Housing Starts After seeing a solid performance in July, new home construction news for August was not exactly stellar, with permits and housing starts both seeing drops, according to last week’s report from the Census Bureau and the Department of Housing and Urban Development. Building permits issue in August for construction of residences of all types, fell to an annual rate of 998,000, marking a 5.6 percent drop from July’s revised rate of 1,057,000. Permits for single-family homes took a smaller hit, dropping only 0.8 percent to 626,000 in August from July’s 631,000. Overall, permits are still 5.3 percent higher than August 2013. Starts on construction of private housing took a steep fall in August to an annual average of 956,000, marking a sizable 14.4 percent drop from July’s revised estimate of 1,117,000. Starts on single-family homes saw a much smaller drop, falling 2.4 percent to 643,000. Overall, constructions starts were still 8 percent higher than August 2013. Meanwhile, completions of private housing in August hit an annual average of 892,000, which was 3.2 percent over July’s revised estimate of 864,000 and was 16.9 percent higher than August 2013’s average of 763,000. But permits and starts are the key figures to watch as they indicate future real estate activity. Bearing that in mind, the wild swings between July’s gains and August’s losses should be taken with a grain of salt given that much of the fluctuation has been occurring in construction of multi-family dwellings, such as apartments, and because single-month performances aren’t indicative of trends. “Overall, the weakness in this report reflects the expected giveback from the unexpected surge in activity the month before, and is not an indication of weakening underlying momentum in the sector,” Millan Mulraine, deputy head of U.S. research and strategy at TD Securities, noted in a public statement.

Open House in Greenwood, IN - Wakefield Addition - Sunday 9/21 1:00 -3:00pm

COME ON OUT and SEE THIS BEAUTIFUL HOME

5493 Gainesway Drive

Greenwood, IN

Listed to sell at $204,000

OPEN THIS SUNDAY 9/14 from 1:00 -3:00 pm

Register to win two Colts tickets for December game against the Texans

sponsored by Waterstone Mortgage 

For more information on this super home go to:

http://www.mlsfinder.com/in_mibor/barbaradunnstear/index.cfm?action=listing_detail&property_id=21314195

GREAT HOME in FRANKLIN, IN - $164,900. Check it Out!!

CHECK OUT this Great Home in

Franklin, IN

Heritage Subdivision

for

$164,900

Many,many updates throughout!!

Lots of homeowner pride!

Give me a call to have a personal showing.

For more information about this home click on:

http://www.mlsfinder.com/in_mibor/suewhitney/index.cfm?action=listing_detail&property_id=21281622

Home in Greenwood, IN - Open House 9/14 1:00 - 3:00 !!

4036 Wander Way, Greenwood, IN

Carefree Subdivision

$184,900.00

OPEN HOUSE - SUNDAY 9/14 from 1:00 - 3:00pm

Register to win 2 free Colts tickets for the Colts vs. Texan game in December!!

For more information on this home click on the following link:

http://www.mlsfinder.com/kwls/kw/index.cfm?action=listing_detail&property_id=194421296881

What's Ahead for Mortgage Rates???

What’s Ahead For Mortgage Rates This Week – Sept 8, 2014

 

Last week’s housing-related economic news was slim, likely due to the Labor Day holiday Monday. On Tuesday, the U.S. Commerce Department reported that construction spending for July increased by 1.80 percent as compared to June’s revised reading of 1.0 percent and expectations of a 1.0 percent increase for July.

The Federal Reserve released its Beige Book report Wednesday; the collection of anecdotes from business contacts within the 12 Federal Reserve districts indicated that the general economy was strengthening as well as labor markets. The Fed noted a shortage of skilled workers. New construction and home sales grew modestly, but the Fed reported that fewer than half of the districts reported growth in real estate activity.

This information appears to be consistent with recent media reports of falling home sales, mortgage originations and demand for homes. Analysts say that mortgage lenders remain wary of loosening mortgage credit standards without protection from having to repurchase faulty mortgages from Fannie Mae and Freddie Mac.

Mortgage Rates Saw Little Change

Freddie Mac reported that average mortgage rates and discount points saw little change last week. The average rates for a 30-year mortgage and a 5/1 adjustable rate mortgage were unchanged at 4.10 percent and 2.97 percent respectively. Discount points were also unchanged at 0.40 percent. The average rate for a 15-year fixed rate mortgage fell by one basis point to 3.24 percent with discount points also lower at 0.50 percent.

Non-Farm Payrolls Add 142,000 Jobs, Unemployment Rate Unchanged 

The Bureau of Labor Statistics Reported that 142,000 new jobs were added in August. Analysts had expected 228,000 new jobs added, but many analysts said that the abrupt decline in jobs added was a fluke. A couple of short-term incidents impacted retail and automotive sectors as a supermarket chain cut hours and fewer July layoffs in the automotive sector led to fewer workers called back in August. The unemployment rate remained at 6.10 percent.

Weekly jobless claims rose to 302,000 against expectations of 300,000 new jobless claims and 298,000 new jobless claims in the prior week.

What’s Ahead

This week’s scheduled economic news is also light on housing and mortgage reports. Retail spending, consumer credit, and federal budget data are some of the reports set for release.

Melissa Wyatt

NMLS: #234601
Direct: 317-975-0741
Text: 812-639-2041
On Twitter @HoosierLoanLady
Apply at: www.HoosierLoanLady.com  

Open House 9/7/14 in Kensington Grove, Greenwood, IN

5517 Camden Lane

Greenwood, IN

JUST REDUCED to $440,000.

in Popular Kensington Grove Subdivision

OPEN HOUSE this SUNDAY 9/7/14

from 1:00 - 3:00

Hope to see you there!!

Need Lots of Living Space for a Great Price? $110,900 in Franklin, IN

946 Ravine Drive

Franklin, IN

Heritage Subdivsion

$110,900 for 2,134 square feet of living space

For more information on the home go to:

http://www.mlsfinder.com/in_mibor/suewhitney/index.cfm?action=listing_detail&property_id=21294031