Mortgage rates reached record lows last week, following the Federal Reserve’s recent policy statement and continued concerns over the European debt market. Rates on the 30-year, fixed-rate mortgage were at their lowest in 50 years, averaging 4.15 percent.
Standard Pacific reported a net loss in the 2011 second quarter of $10.5 million on homebuilding revenues of $204.3 million compared to net income of $10.7 million on homebuilding revenues of $317.2 million in the 2010 second quarter.
A new paper found that the average listing of home prices rose about $8,000 the month after the first major tax credits for the same amount went into effect, and they fell by slightly less than $9,000 two months after they expired.
Early data from the National Federation of Independent Business show positive job growth in February — the fifth consecutive month that small firms’ hiring plans have been consistently positive. According to the new survey, plans to create jobs jumped up two points to a net 5 percent of all firms.