Nevertheless, the 58 level is still the highest seen since 2005. The flat level MoM may stem from mortgage rates that have risen since Chairman Bernanke first hinted at a possible September taper. Due to concerns in these main page higher mortgage rates, we may see the Fed simply reduce purchases of Treasuries while leaving MBS purchases unchanged as many market participants are led to believe. Relatively sustained and strong data like this most recent housing market index print reinforces that hypothesis. The NAHB Housing Market Index is a monthly print based on a survey of NAHB members. It is essentially a gauge of the single-family housing market and is measured between 0 and 100 with a higher number being the stronger.
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Calgary and Vancouver lead Canadian housing market boom
aBoth in July and August, those numbers were a little stronger. Part of that I think is due to the fact of the floods (in June),a said Lurie. aBecause of that if you look at June we were running really in line with long-term trends a just above it.
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No Confidence in China Markets Inflates Housing Bubble
New home prices in major cities, including Beijing and Shanghai, rose more than 10 percent in July from a year earlier, compared with a more than 10 percent drop in the benchmark Shanghai Composite Index (SHCOMP) during that period. Prices have been rising because China doesnt have developed financial markets, Yao Wei, a China economist at Societe Generale SA, said in an interview in Hong Kong. Now, with the economy slowing, that has worsened as other investments dont yield good returns compared with property. The Shanghai Stock Exchange Property Index, a gauge tracking property shares traded in Shanghai, rose 0.4 percent at the close today. The benchmark Shanghai Composite Index fell 0.2 percent. Tough Job A stock market thats been stagnant for almost five years, a bond market in its infancy and bank-deposit rates barely above inflation have fostered a lack of confidence in other investment options, putting Premier Li Keqiang in a tough position as he steers the economy toward a 7.5 percent growth target this year.
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