Economy could rebound faster than expected

WASHINGTON – Sept. 2, 2009 – Manufacturing grew in August for the first time in more than a year and a half, suggesting a broad, stronger-than-expected recovery from the worst recession since the 1930s.

The Institute for Supply Management reported Tuesday that its much-watched manufacturing index grew from July to August for the first time in 19 months, rising to 52.9, the highest level since August 2007. Anything above 50 signals that manufacturing is expanding....

A Good Sign for the Housing Market

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NAR: Pending home sales on a record roll

WASHINGTON – Sept. 1, 2009 – Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94...

First Time Home Buyers Need to Act Now

More and more people are finding that it is now cheaper to own their own homes than it is to rent.  With a 5% mortgage rate, and 20% down payment, the monthly cost on a $350,000 home would be less than the $1,800 per month they would pay on a rental.

The cost of owning a home relative to renting has fallen sharply.   Lower prices and interest rates, coupled with various other incentives like the $8,000 tax credit have induced many Renters to finally embark on a qu...

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