Weekly Housing Statistics from Fairfax Homes 6/9-6/11
Posted by Super Admin on Tuesday, June 15th, 2010 at 10:56am.
9 – According to the Mortgage Bankers Assn. purchase and refinance applications dropped this week, even after an adjustment for the Memorial Day holiday. Purchase applications are now 35 percent below their level of four weeks ago, as homebuyers have not yet returned to the market following the expiration of the homebuyer tax credit at the end of April.
10 – Freddie Mac reported that this week rates hovered near their record low set in early December 2009.
11 – The University of Michigan’s index of consumer sentiment rose in June, bettering some analyst’s expectations.
11 – Retail sales declined for the first time in eight months in May, tumbling a surprising 1.2%. Declines were seen across all sectors.
11 - Oil closed the week at $73.78 up from $71.51 last Friday.
Rates went back down again slightly this week and are at historic lows.
Congress is considering extending the date to close on purchases to obtain the homebuyer tax credit. The extension may move out to September 30th from June 30th. This would apply only to qualifying purchases written before May 1, for Fairfax Homes, Arlington, VA home for sale and homes all over Reston, Vienna, Chantilly, Annandale and Centreville.
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