U.S. National Association of Home Builders released the same day the report showed that U.S. home builders confidence index rose in November from 3:00 to 20, reaching the highest level since May 2010. This is the second consecutive month following the October, the index rose to 3:00, showing the construction of real estate production is stabilized.
real estate decline short-term is difficult to change
Thus, the credit of the U.S. real estate market environment will continue over a longer period to maintain a "tense" situation, which also determines the real estate decline short-term is difficult to change.
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U.S. National Association of Home Builders chief economist David Crowe pointed out that the builders confidence index for two consecutive months to rise, indicating that the current very low interest rates and house prices has stimulated some areas in line with the purchase of credit conditions reintegration market. However, analysts pointed out that the nation as a whole, does not meet the magnitude of the potential buyers of mortgage requirements World Steel Pipe News , only the release of the purchasing power of this group in order to allow the U.S. housing market recovery to the levels before the bubble burst.
confidence index in November rose to 20
an important indicator of Home Builders confidence indexthe U.S. National Association of Home Builders released on the 16th, reflecting the status of the U.S. housing market boom a second consecutive month in November, which is the positive signal of the latest release of the extremely weak U.S. housing market . Insiders pointed out that builders feel better about the U.S. real estate does not change the current tide.
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side of the bank clenched credit conditions are not promoted, the other side of the mortgage interest rates continued downward. Freddie Mac published data show that as of November 3rd week, 30-year fixed-rate mortgage average interest rate dropped significantly from 4.00% for the second low level; 15-year fixed-rate mortgage average interest rate fell to 3.31 % of extremely low. However, the stimulating effect of low interest rates on home buying is very limited.
However, Bob Nelson of the Association of Home Builders confidence index for two consecutive months, steady rise is encouraging signal, residential construction continues to encounter many challenges, the overall level of the index remains in considerable low levels. In general, builders confidence index reading above 50 indicates that the majority of builders optimistic about the prospects for housing sales, less than 50 means that the majority of builders bearish market prospects. Since April 2006, the index has been below the 50 threshold line.
In order to support the housing finance market, the Obama administration announced last month a series of reform of the housing affordable re-financing projects (HARP) measures designed to allow more borrowers to restructuring of the housing mortgage loans, to enjoy the current lower interest rates to ease the mortgage burden. However, these measures only reduce the cost of the lender, did not reduce the condition of the home buyers' access to credit difficult to significantly boost the market.
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report shows that the three sub-indicators in the month of Home Builders confidence index all increased. Measure to measure the trading volume of potential buyers index rose 1 point to 15 the homebuilders current sales index rose 3 points to 20;; measure of the next six months expected sales index rose 2 points to 25 in March of this year. Since the highest point.
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