Shelter Six:  Pending Home Sales Up in March

Pending Home Sales stopped a 4-month slide and rose 2% in March and 23% year-over-year.

The Case-Shiller National Home Price Index rose a whopping 12% in February after increasing 11.2% in January.

1st Quarter GDP rose at an annualized rate of 6.4%, which was the second-best reading since 2003, behind only the 3rd Quarter of last year.

More flexible policies due to the pandemic that allowed for exterior-only appraisals and more flexible employment verifications are coming to an end this month.

When there has not been a recent sale in the subject property’s subdivision, new appraisal flexibilities allow 2 pending sales from the subdivision to be used instead.

National Guard Members who were full-time active service for at least 90 total days, with at least 30 being consecutive, are now eligible for VA loans.

Rate Update

Rates were unchanged last week as the Fed calmed fears by making no policy changes nor providing any indication of when its bond purchase program will end.

This Week

The ISM National Manufacturing Index is due out on Monday, the ISM National Services Index on Wednesday, and Employment figures on Friday.

May 3, 2021 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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