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Press Releases Mortgage Applications Decrease in Latest MBA Weekly Survey Posted by Christopher Dente |  September 03, 2009 Mortgage Applications Decrease in Latest MBA Weekly Survey WASHINGTON, D.C. (September 2, 2009) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 28, 2009.  The Market Composite Index, a measure of mortgage loan application volume, decreased 2.2 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 3.1 percent compared with the previous week and increased 22.7 percent compared with the same week one year earlier. Highlights from the release: The average contract interest rate for 30-year fixed-rate mortgages decreased to 5.15 percent from 5.24 percent, with points increasing to 1.09 from 1.07 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 15-year fixed-rate mortgages decreased to 4.57 percent from 4.58 percent, with points decreasing to 0.85 from 1.18 (including the origination fee) for 80 percent LTV loans. The average contract interest rate for one-year ARMs decreased to 6.71 percent from 6.74 percent, with points increasing to 0.20 from 0.17 (including the origination fee) for 80 percent LTV loans. Read full article here.   Comments(0) Filed under: News, Press Releases, Sales Share NEW RESIDENTIAL CONSTRUCTION IN JULY 2009 Posted by Christopher Dente |  August 18, 2009     NEW RESIDENTIAL CONSTRUCTION IN JULY 2009 The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2009: BUILDING PERMITS Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 560,000. This is 1.8 percent (±1.4%) below the revised June rate of 570,000 and is 39.4 percent (±1.8%) below the July 2008 estimate of 924,000. Single-family authorizations in July were at a rate of 458,000; this is 5.8 percent (±1.1%) above the revised June figure of 433,000. Authorizations of units in buildings with five units or more were at a rate of 84,000 in July. Read full release here.   Comments(0) Filed under: New Developments, News, Press Releases, Sales Share Rental Market Analysis - July 2009 Credit to: Christopher Dente Posted by Christopher Dente |  August 06, 2009 Rental Market Analysis - July 2009 Average Rents 7/09 Market-wide for Manhattan, the average monthly rental price for a studio was $1,774, representing an increase of 1% from June 2009; a one bedroom, $2,406 representing a change of -1% from June 2009; a two bedroom, $3,362 representing a change of -2% from June 2009; and three bedroom, $4,648 representing a negligible change from June 2009. A neighborhood average rent comparison for a studio apartment for the same period indicates that the SoHo/Tribeca area of Manhattan had the highest rental rate at $2,171 with the lowest rate in Washington Heights at $1,053. A similar average rent comparison for a one-bedroom apartment indicates that the SoHo/Tribeca area of Manhattan has the highest rental rates at $3,258 with the lowest rate in Washington Heights at $1,403. Vacancy Rates 7/09 The overall vacancy rate for Manhattan for July 2009 was 1.67% representing an increase in the vacancy rate of 1% from June 2009. A comparison of vacancy rates, by neighborhood, reveals that the SoHo/Tribeca area had the least amount of available apartments at .98%, while the Upper East Side, at 2.38%, ranked highest. Please click here to view the entire report.   Comments(0) Filed under: Manhattan, Market Reports, Press Releases, Rentals Share Mortgage Applications Increase in Latest MBA Weekly Survey Posted by Christopher Dente |  August 05, 2009 Mortgage Applications Increase in Latest MBA Weekly Survey WASHINGTON, D.C. (August 5, 2009) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 31, 2009.  The Market Composite Index, a measure of mortgage loan application volume,  increased 4.4 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 4.1 percent compared with the previous week and 18.0 percent compared with the same week one year earlier. Highlights from the report: The average contract interest rate for 30-year fixed-rate mortgages decreased to 5.17 percent from 5.36 percent, with points increasing to 1.02 from 0.93 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 15-year fixed-rate mortgages decreased to 4.60 percent from 4.75 percent, with points decreasing to 1.00 from 1.14 (including the origination fee) for 80 percent LTV loans. The average contract interest rate for one-year ARMs increased to 6.67 percent from 6.66 percent, with points remaining unchanged at 0.09 (including the origination fee) for 80 percent LTV loans. Read the full release here.   Comments(0) Filed under: New Developments, Press Releases, Sales Share Purchase Applications Hold Steady, Refinance Applications Fall in Latest MBA Weekly Survey Posted by Christopher Dente |  July 31, 2009 Purchase Applications Hold Steady, Refinance Applications Fall in Latest MBA Weekly Survey WASHINGTON, D.C. (July 29, 2009) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 24, 2009.  The Market Composite Index, a measure of mortgage loan application volume, was 495.4, a decrease of 6.3 percent on a seasonally adjusted basis from 528.9 one week earlier.  On an unadjusted basis, the Index decreased 6.0 percent compared with the previous week and increased 16.1 percent compared with the same week one year earlier. Read full release here.   Comments(0) Filed under: New Developments, Press Releases, Sales Share	RECENT POSTS Mortgage Rate Update U.S. Mortgage Rates Fall for Third Consecutive Week With F.H.A. Help, Easy Loans in Expensive Areas U.S. Housing Recovery Delayed to 2010 as Market Wanes Real Estate Outlook: Moving Towards Recovery First-time homebuyers leading market back Bidding Wars Resume Mortgage Rate Update RELATED Events Manhattan Market Reports New Developments News Press Releases Rentals Sales All Sections ARCHIVES November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 March 2009 February 2009 January 2009 December 2008 Add CitiBlog feed

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