Christmas Expo in July, July 25, 2020
The show is in the gym at Coquille in Covington.
Christmas Expo
Coquille Sports Complex – Gym 1
13505 Hwy. 1085
Covington, LA 70433
July 25, 2020
10am – 5pm
Price: Free
Click Here for More Information.
Slidell Gun & Knife Show, July 11, 2020
There will be over 225 tables at the Gun & Knife show in Slidell.
Slidell Gun & Knife Show
Northshore Harbor Center
100 Harbor Center Blvd
Slidell, LA 70461
July 11, 2020
9am – 5pm
Tickets $9 adult / $1 child (ages 6-10)/Children under 6 free!
Louisiana Art Car Festival, July 25, 2020
Art cars will be on display in Abita Springs.
Louisiana Art Car Festival
Town Hall Field
22161 Level St.
Abita Springs, LA
July 25, 2020
11am – 2pm
Playing the Staircase Concert Series, July 31, 2020
An intimate live concert in Hammond with Troy Bennett.
Playing the Staircase Concert Series
Hammond Regional Arts Center
217 E. Thomas Street
Hammond LA, 70401
July 31, 2020
Admission is $5.00
Housing Economy Strengthens From Rising Sales and Permits
The NAHB’s forecast predicted the housing industry to lead in the economy’s upturn after the pandemic. This has wrung true as data from home building has shown a rise.
According to the National Association of Home Builders, single-family permits rose 12% in May. The U.S. Housing and Urban Development and Commerce Department reported that the total housing starts rose 4.3% to a seasonally adjusted annual rate of 974,000 units. This accounts for “the number of housing units builders would begin if they kept this pace for the next 12 months.”
“The May housing report is consistent with the positive results of the NAHB/Wells Fargo builder sentiment index, and we expect this momentum to continue as economic activity recovers,” said NAHB Chief Economist Robert Dietz. “In another promising sign, single-family permits are up almost 2 percent on a year-to-date basis and builders are bringing back thousands of workers laid off in March and April to meet renewed demand.”
Home sales are also on the rise, in fact, new single-family home contracts rose 13% year-over-year gain in May. The data also indicates “support growth for new home building” as inventory dropped to a sales-adjusted level of a 5.6 month supply (levels below a 6-month supply equals growth for new home building).
A rise in permits and sales along with an increase in builder confidence are good signs for a strengthening in this weathered economy.
Click Here For the Source of the Information.
Eighth Straight Week of a Rise in Home Purchasing
The housing market is up and running even through the pandemic. According to the Mortgage Bankers Association’s (MBA) Weekly Application Survey, there was an increase by 9.3% in the Market Composite Index for the week ending on June 5 from the week before on a seasonally adjusted basis. This was the highest level of purchasing activity since January.
The Mortgage Bankers Association’s (MBA) Weekly Applications Survey has been the leading indicator of the housing and mortgage finance activity since 1990. The survey’s purpose is to obtain and provide related information to mortgage originators, servicers, investors, other participants in the housing market and economists and others interested in the current pace of economic activity.
The Market Composite Index is a measure of the volume of mortgage loan applications. The index covers all mortgage applications that have occurred during the week. The data includes conventional and government applications, all fixed-rate mortgages (FRMs) and all adjustable-rate mortgages (ARMs), whether for a purchase or to refinance.
The Mortgage Bankers Association’s 30-year fixed-rate mortgage rate went up one basis point from last week’s record low. Last week reported a historic low of 3.3% which was 8 basis points from the previous week. This has not slowed purchase applications which are still increasing after nine consecutive weeks. In fact, this marks the highest level of purchase applications in over eleven years.
Refinancing has been slower but has taken a sharp turn this week. The report detailed an 11.4% increase from last week’s activity. According to eyeonhousing.org, “With the Federal Reserve’s recent announcement of an accommodative monetary stance in order to aid recovery efforts, a low-interest-rate environment is bound to continue for the short-term, effectively benefiting housing demand.”
People are seeing the benefit in homeownership as home purchasing continues to rise for the eighth straight week increasing 5.3% from the week before.
Click Here For the Source of the Information.
Catch Up on Houzz!
