As promised, here is a follow up on the housing market report i posted on May 16, 2007.  This time the information comes from on of our nations largest home builders.  In short, they report that the slide continues, though with a few bright spots.  Here’s the short of it:

• Claim that tougher lending standards for mortgages as well a weakened consumer confidence erased hopes for a new-home market rebound.
• The luxury homebuilder said that its second-quarter revenue fell 19 percent.

Postive news included:

• Markets such as Philadelphia, New York, Raleigh, N.C., Dallas and
  Northern California, did well.
• The company’s second-quarter cancellation rate fell to 19 percent. This is a key measurement because it indicates the willingness of a buyer to walk away from a purchase, even at the cost of potentially losing thousands of dollars from the down payment. The rate was 30 percent in the first quarter.

The release goes on to say how the company would not meet its earning forecast.

 As I have suggested before, by applying for mortgage broker bonds, or mortgage banker bonds, brokers /bankers can expand their territories to reclaim loss revenues.  As stated above: Philly, NY, Dallas, Raleigh, and northern California are markets that have movement.  If you are near tehse areas, but nopt doing business there, maybe you should?  Learn more about surety bonds, including our bad credit surety bonds that are are availble for mortgage brokers.  This program requires no colateral, while still giving you a rate lower then other high risk markets.