- Construction Spending declines in July
Calculated Risk - The U.S. Census Bureau of the Department of Commerce announced today that construction spending during July 2010 was estimated at a seasonally adjusted annual rate of $805.2 billion, 1.0 percent (±1.4%)* below the revised June estimate of $813.1 billion. The July figure is 10.7 percent (±1.8%) below the July 2009 estimate of $901.2 billion.
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- Special session of California budget unlikely now
Calculated Risk - The U.S. Census Bureau of the Department of Commerce announced today that construction spending during July 2010 was estimated at a seasonally adjusted annual rate of $805.2 billion, 1.0 percent (±1.4%)* below the revised June estimate of $813.1 billion. The July figure is 10.7 percent (±1.8%) below the July 2009 estimate of $901.2 billion.
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- Rural housing incentives
Realty Times - Carla Hill - The landscape of American has changed over the years. As population levels grew, so changed rural and urban demographics. Cities have stretched their boundaries to include former farmlands, absorbing formerly rural populations.
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- Fed leaves door open to buy more MBS if needed
Mortgage News Daily - Adam Quinones - Production MBS coupon prices hit new record highs yesterday, pushing mortgage rates through the 4.25% barrier to new lows. "Rate sheet influential" MBS coupons were led higher by longer dated Treasuries, which benefitted from month-end allocations and a continued correction from the sell off seen last Friday.
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- Fannie’s appraisal cutting ban takes effect
HousingWIRE - Christine Ricciardi - Fannie Mae's new policy to reduce appraisal cutting takes effect today. If a lender is trying to sell the GSE a loan, they are now prohibited from changing the market value of a home on the request form.
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