I s su e 13 , Vo lu me 1 8 / May 1 1 , 20 1 2The Positive Housing Tone Continues The Week Ahead -> The “Keys”Tim McLaughlin - Overweighting of Economic Data in an Action Packed Week According to the results of Fannie Maes April 2012 NationalHousing Survey, Americans attitudes about homeownership, Date Economic Release Prediction Lastthe economy and personal finances "continue to moveincrementally in a positive direction." 5/14 Mortgage Delinquencies - 7.58% "This months survey shows a continued gradualimprovement in consumer sentiment and outlook for home 5/14 MBA Mortgage Foreclosures - 4.38%prices," says Doug Duncan, vice president and chief economist 5/15 CPI (MoM) 0.1% 0.3%of Fannie Mae. "After flat-lining at depressed levels for over ayear, a growing share of consumers indicate that it is a good 5/15 ex Food/Energy 0.2% 0.25time to sell, suggesting rising optimism for the housing marketand for prospective purchasers." 5/15 CPI (YoY) 2.4% 2.7% On average, Americans expect home prices to increase 5/15 ex Food/Energy 2.3% 2.3%1.3% over the next year, and the percentage of Americans whosay it is a good time to sell their home continued to rise to 15% 5/15 CPI NSA 229.95 229.39in April (up from low, flat levels during 2011). In turn, confidencein the economys direction rose to a survey all-time high in April, 5/15 Empire Manufacturing 9.00 6.56hitting 37%. 5/15 Advance Retail Sales 0.2% 0.8% Another positive trend, according to Fannie Mae, is theincreased share of those who reported their income as 5/15 less Autos 0.2% 0.8%"significantly higher" from 12 months ago, which is now at thehighest level recorded over the past year and seven percentage 5/15 less Autos and Gas 0.4% 0.7%points higher than those who reported income as "significantly 5/15 Business Inventories 0.5% 0.6%lower." 5/15 NAHB Housing Market Index 26 25======================== 5/16 MBA Mortgage Applications - 1.7% WFIF Economic team suggest that early reports show thatthe critical spring home buying season has gotten off to its best 5/16 Housing Starts 680K 654Kstart in five years. "Sales of new single-family homes totaled83,000 units during the first quarter, up 16 percent from a year 5/16 Housing Starts (MoM) 4.0% -5.8%ago, while sales of existing single-family homes rose 7.2percent, marking the best combined pace for first quarter home 5/16 Building Permits 735K 764Ksales since 2007. The rise in existing home sales has generateda little excitement, as news is spreading that homes sold outside 5/16 Building Permits (MoM) -3.8% 4.5%the foreclosure process are often receiving multiple bids andselling above the asking price." 5/16 FOMC Meeting Minutes - - 5/17 Initial Jobless Claims - 367K “The first quarter is typically the slowest quarter of the year,with March being the only busy month. Inventories of existing 5/17 Continuing Claims - 3229Khomes have fallen to just a 6.3-months supply, and theinventory of unsold vacant homes has fallen by 353,000 units 5/17 BB Consumer Comfort - -40.4over the past year. Inventories of new homes continue todecline and are now at a paltry 144,000 units nationwide. Only 5/17 Philly Fed Survey 10.0 8.5about one-third of those homes are actually completed. Withinventories dwindling, home prices have improved a bit." 5/17 Leading Indicators 0.2% 0.3% Mortgage Access Corp. d/b/a Weichert Financial Services, Executive Offices, 225 Littleton Road, Morris Plains, NJ 07950. 1-800-829-CASH. NMLS Company ID: 2731. Licensed by the NJ Dept of Banking and Insurance. Licensed Mortgage Banker with the State Dept of Banking in NY and CT. Licensed by the Pennsylvania Department of Banking, Mortgage Lender 21042. Licensed Lender in AK, AR, DE, MD, D.C., GA, ME, MI, MN, WI, IA, IL, IN, LA, VT, FL, WV, RI, KY, NC, ID, MS, NE, WY, OK,TN, WA. Licensed by the Virginia State Corporation Commission, License #ML105. Licensed Mortgage Lender in the Commonwealth of Massachusetts. License #ML1713, Certificate #43155. Certificate of Authority to transact business in CO, SC. Registered Mortgage Lender in TX. Licensed with the Financial Institutions Division in New Mexico, License # 01297. Licensed by the Department of Corporations under the California Residential Mortgage Lending Act. Licensed Mortgage Broker and Lender Ohio. Licensed Loan Broker and Lender Rhode Island. Kansas Licensed Mortgage Company, License #MC.0001229. Licensed by the New Hampshire Banking Department, License # 8714-MB. Licensed Oregon Mortgage Lender License #ML2528. Weichert Financial Services arranges loans with third-party providers. Equal Housing Lender.