New Home Construction Implies Positive Housing Data on Tuesday

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The Federal Savings Bank informs readers about the possible positive implications on new home construction in March on Tuesday's housing starts data. The bank encourages first-time homebuyers to get approved for a loan as housing prices are rising and interest rates remain low.

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The Federal Savings Bank

building permits in March of 943,000, exceeded those of February, 939,000 giving reinforced feedback that Tuesdays housing starts will be positive

While the housing industry await new housing starts data on Tuesday The Federal Savings Bank is optimistic the that the numbers will be good. According to Bloomberg, building permits in March of 943,000, exceeded those of February, 939,000 giving reinforced feedback that Tuesdays housing starts will be positive First-time homebuyers are encouraged to take notice as interest remain low while housing prices continue to increase.

"We are seeing multiple data outlets re-confirming that the housing market is on the rise" says Nick of The Federal Savings Bank. The S&P/Case-Schiller Housing Index increase year-over-year from January 2012. New home sales increased in march along with building permits. New homes sales jumped 13.1% in January on an annualized basis. While new home sales have pulled back to since January they still remain above 400K. In addition to the housing data, unemployment continues to decline and the nation is seeing decade low interest rates across all states.

First-time homebuyer applicants are strongly encouraged to finish their paper work and get approved for a mortgage as fast as possible. Housing inventories remain low which is causing prices to continue higher. Once approved, applicants see how much of a home they can afford which helps revise their search for listings. In addition, having the available credit with a mortgage gives the seller more confidence that your seriously bidding on his/her listing. To get started on a mortgage application or speak with a loan officer please visit: TheFederalSavingsBank.com

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