| Builder confidence for new single family
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| | measures sales predictions for the next
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| homes has continued its decline in July.
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| | six months. This index fell from 51 to
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| According to the National Association of
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| | 46.The index of current sales of new
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| Home Builders/Wells Fargo Housing Market
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| | family homes fell four points to 43. The
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| Index, builder confidence for new single
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| | index of prospective buyer traffic
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| family homes has declined three
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| | decreased two points to 27.The only
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| additional points to 39.The drop is
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| | region to experience an upturn in builder
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| attributed to increased concerns of
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| | confidence was the South, up two points
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| interest rate increases and housing
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| | to 50. Yet, that mark remains well below
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| affordability, according to the NAHB.The
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| | the 77 score of June 2005. The index in
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| index measures builder perceptions of
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| | the Northeast was down to 36, while the
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| current new single-family home sales, and
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| | Midwest dropped to 21.The West had the
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| the expectations of builders for the next
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| | largest decline in confidence, down nine
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| six months. The perceptions are rated
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| | points to 51."In terms of historical
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| "good, "fair" or "poor."The scores are
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| | comparison, the HMI's movement is
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| compiled and adjusted according to a
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| | essentially in line with readings from
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| seasonal index. Numers under 50 indicate
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| | the 1994-95 period when the Federal
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| that sales are considered poor."The HMI
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| | Reserve tightened monetary policy and a
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| is down from its most recent cyclical
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| | fairly orderly cooling-down process
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| high of 72 in June last year, and
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| | occurred in the nation's housing
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| reflects growing builder uncertainty on
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| | markets," Seiders explained."That is what
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| the heels of reduced sales and increased
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| | our forecasts anticipate happening in the
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| cancellations related to eroding
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| | current period, provided the downside
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| affordability as well as an ongoing
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| | risk of rising interest rates and a
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| withdrawal of investors/speculators from
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| | bail-out by investors/speculators do not
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| the market place," said NAHB Chief
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| | become too pronounced," he said. "With
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| Economist David Seiders."But just as
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| | respect to interest rates, we expect the
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| concerning to many builders is the
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| | Federal Reserve to maintain the current
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| potential for more monetary tightening by
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| | 5.25% target for the federal funds rate
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| the Federal Reserve that could drive
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| | for some time, and we're projecting only
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| interest rates, and thereby homeownership
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| | modest increases for long-term interest
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| costs even higher. Ironically, the Fed's
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| | rates from current levels."Martin Lukac
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| inflation-fighting moves have helped firm
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| | represents and a finance web-company
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| up the rental market and raise the
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| | specializing in real estate and mortgage
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| 'owners' equivalent rent' components of
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| | rates. We specialize in daily updates,
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| the core inflation measures that the Fed
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| | mortgage news, rate predictions, mortgage
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| is seeking to contain."All three indices
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| | rates and more. Find low home loan
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| fell this month, with the most dramatic
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| | mortgage interest rates from hundreds of
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| fall occurring in the index which
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| | mortgage companies!
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