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THE NEW YEAR BEGINS WITH 18 PERCENT INCREASE Press Release by GNAR, February 7, 2013
NASHVILLE, Tenn. (Feb. 7, 2013) – There were 1,634 home closings reported for the month of January, according to figures provided by the Greater Nashville Association of REALTORSÒ. This figure is up 18.7 percent from the 1,377 closings reported for the same period last year.
“This is a very positive start to the year for Middle Tennessee home sales,” said GNAR…Continue
MARKET COMMENT Mortgage bond prices fell last week, which pushed mortgage interest rates higher. Rates started off on a bad note Monday as stocks surged higher. This negative movement continued throughout midweek as durable goods orders rose 4%, considerably stronger than the expected 1.9% increase. Stocks took a roller coaster ride and fell a bit Thursday morning, which helped support mortgage rates. Rates rebounded slightly Friday morning as Q2 GDP came in lower than…Continue
MARKET COMMENT Mortgage bond prices finished near unchanged last week but whipsawed up and down throughout the middle of the week. Rates started off on a bad note Monday in reaction to stronger than expected data. Housing starts, industrial production, and capacity use data all surprised to the upside. European debt worries resulted in flight to quality buying Wednesday and rates improved considerably that morning. Unfortunately those gains were erased Thursday afternoon…Continue