NEW YORK (TheStreet) -- Positive economic data for the U.S. housing sector and brighter signals from Europe offered markets a glimmer of hope this Tuesday. The U.S. Commerce Department released better-than-expected November housing data with builders breaking ground for nearly 685,000 homes, up 9.3% from October and 24.3% in November 2010, surpassing economists' expectations. Building permits were up 5.7% from the previous month.
At close Tuesday, the S&P 500 Index(SPXINDEX) gained 2.98%,
while the S&P 500 Home Building Sub-Industry Index(S5HOME INDEX) edged forward by 7.01%,
beating the main index. Stocks like,
PulteGroup(PHM_), KB Home(KBH_) and
Meritage Homes(MTH_) advanced 10.4, 10.1% and 9.2%, respectively, in a single-day trade Tuesday.
The Architecture Billings Index rose to 52 in November from 49.4 in October, according to the American Institute of Architect. The National Association of Home Builders expects sentiment to buoy for the third straight month in December.
Based on average estimates of analysts surveyed by Bloomberg, these stocks have upsides ranging from 5% to 40%. The buy recommendation and hold guidance for these stocks is 62% and 30%, respectively.
Saturday, December 24, 2011
Friday, September 23, 2011
KBH Earnings September-23-2011 Narrower Loss
KB Home (KBH) posted a smaller-than-expected third-quarter loss and said orders and backlog jumped, possibly signalling a turnaround for the battered home builder.
KB's loss widened to 13 cents a share from 2 cents, but that was still better than Wall Street predictions of 19 cents. Net orders leapt 40% to 1,838 homes, and backlog rose 22.5% to 2,657 homes.
Shares rose nearly 3% as of 12:43 p.m. ET, though they are still off about 60% since mid-January. Toll Brothers (TOL), Lennar (LEN) and DR Horton (DHI) were also rallying.
KB Home's third-quarter revenue dropped 27% to $367.3 million, missing views of $380.3 million. But the backlog of 2,657 homes represents future revenue of $559.3 million.
Orders rose in all its geographic regions, led by a 73% surge on the West Coast. The average selling price rose 6% to $227,400. The cancellation rate eased to 29% from 33%.
Falling mortgage rates could help home builders. The average 30-year fixed mortgage rate remained at a 60-year low this week at 4.09%, Freddie Mac said, helped by declining Treasury yields and the Federal Reserve's shift of its bond holdings to push down long-term borrowing costs.
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=585802&ven=yahoo
KB's loss widened to 13 cents a share from 2 cents, but that was still better than Wall Street predictions of 19 cents. Net orders leapt 40% to 1,838 homes, and backlog rose 22.5% to 2,657 homes.
Shares rose nearly 3% as of 12:43 p.m. ET, though they are still off about 60% since mid-January. Toll Brothers (TOL), Lennar (LEN) and DR Horton (DHI) were also rallying.
KB Home's third-quarter revenue dropped 27% to $367.3 million, missing views of $380.3 million. But the backlog of 2,657 homes represents future revenue of $559.3 million.
Orders rose in all its geographic regions, led by a 73% surge on the West Coast. The average selling price rose 6% to $227,400. The cancellation rate eased to 29% from 33%.
Falling mortgage rates could help home builders. The average 30-year fixed mortgage rate remained at a 60-year low this week at 4.09%, Freddie Mac said, helped by declining Treasury yields and the Federal Reserve's shift of its bond holdings to push down long-term borrowing costs.
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=585802&ven=yahoo
Tuesday, August 30, 2011
Mortgage Rates Across the USA August-30-2011
Current Home Mortgage Loan Rates
•30 Year Fixed Rate: 4.85% APR: 4.99%
•20 Year Fixed Rate: 4.85% APR: 4.99%
•15 Year Fixed Rate: 4.25% APR: 4.40%
•5/1 ARM Rate: 3.95% APR: 3.45%
•3/1 ARM Rate: 3.75% APR: 3.24%
Rates on fixed mortgages continue to show signs of increasing from day to day, with very little opportunity for average rates to level off between now and the end of the year. The steady climb of rates has been occurring for several weeks now, moving average rates on fifteen and thirty-year mortgages back into ranges that have not been seen since the summer. At present, the upward swing in rates has not motivated consumers to seek financing in greater numbers. Instead, the number of mortgage applications overall is decreasing at a growing rate.
•30 Year Fixed Rate: 4.85% APR: 4.99%
•20 Year Fixed Rate: 4.85% APR: 4.99%
•15 Year Fixed Rate: 4.25% APR: 4.40%
•5/1 ARM Rate: 3.95% APR: 3.45%
•3/1 ARM Rate: 3.75% APR: 3.24%
Rates on fixed mortgages continue to show signs of increasing from day to day, with very little opportunity for average rates to level off between now and the end of the year. The steady climb of rates has been occurring for several weeks now, moving average rates on fifteen and thirty-year mortgages back into ranges that have not been seen since the summer. At present, the upward swing in rates has not motivated consumers to seek financing in greater numbers. Instead, the number of mortgage applications overall is decreasing at a growing rate.
Thursday, August 25, 2011
Home Mortgage Calculator California
http://www.mortgagecalculator.org/
http://www.californiarealestatecenter.com/mortgage-calculator/index.htm#Mortgage Calculator
http://www.californiarealestatecenter.com/mortgage-calculator/index.htm#Mortgage Calculator
National Mortgage Rates USA August 2011
Loan Type Today Last Week
15 yr fixed 3.66 3.62
30 yr fixed 4.33 4.3
5/1 ARM 3.19 3.09
15 yr fixed 3.66 3.62
30 yr fixed 4.33 4.3
5/1 ARM 3.19 3.09
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