Greenwich Market Watch

Home sales strengthen

The National Association of Realtors (NAR) reported last week that existing sales rose at their fastest rate since last September, indicating the housing market is “bouncing back after a sluggish first half of the year.”

Changing FICO score calculations

The nation’s most used credit-scoring system, FICO, announced last week that it is changing the criteria used in calculating consumers’ scores.

What you need to know

According to a recent Discover Home survey, 83% of home buyers or respondents have been pre-qualified for a mortgage.

The new normal

The Pending Home Sales Index (PHSI) decreased slightly (meaning 1.1%) in June as compared to May of this year. It is also 7.3% below a year ago.

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