10/29 MND NewsWire

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. MND NewsWire - MND NewsWire : Housing and Economic News New Home Sales Fall For First Time in Six Months October 28, 2009 at 3:42 pm This month single family new home sales fell for the first time since March. The annual pace of new homes sales was 402,000 sales per year, well below economist expectations for a pace of 440,000 annual new home sales. This is a 3.6% month over month decline. August new home sales data was also revised lower, from 429,000 to 417,000 sales per year. New home supply was unchanged at 7.5 months. The median home sale price was 204,800, 9.1% lower from September 2008. New home sales in the Northeast were unchanged, the Mid-West was 34% higher, the South experienced 10% less new home sales, and the West was 10.6% slower. Once again, only one geographical region experiences growth....(read more) The Day Ahead: Durable Goods, New Home Sales, Auctions October 28, 2009 at 8:09 am Shares in the S&P 500 have fallen for three consecutive days and on Wednesday futures are extending those losses ahead of fresh data and more Q3 earnings. About two hours before the open the S&P looks to open nearly 6 points down, after trimming 3.4 points yesterday. While investors wait for the durable goods report, which is expected to advance in September, sentiment will remain skittish as investors open up the Wall Street Journal to learn that GM's financing arm, GMAC, is seeking more taxpayer aid. ...(read more) Mortgage Applications Decline. Refinance Demand Drops 16.2%. Purchases Down 5.2% October 28, 2009 at 7:26 am In last week's release, which reported data for the week ending October 16, mortgage application activity fell 13.7% as mortgage rates rose from 5.02% to 5.07%. The Refinance Index, adjusted for the Columbus Day holiday, decreased 16.8% from the previous week while the seasonally adjusted Purchase Index moved lower as well, decreasing 7.6% from one week earlier. The refinance share of mortgage activity fell to 65.0% of total applications from 67.4% in the previous week. In today's release, which covers new loan applications for the week ending October 23, the MBA reported that demand for new mortgages dropped 12.3%, even as mortgage rates fell from 5.04% to 5.07%. ...(read more)   This email was sent to cardmaster21@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.