No. of Recommendations: 1
Slowly but surely moving on up. Saw an article a couple days ago that lenders are lowering the mortgage standards. }};-()

Trucks and SUVs mean gasoline sales to me... welcome back. }};-D


Housing recovery boosts truck, SUV sales in March

Ben Klayman and Deepa Seetharaman, Reuters
11:04 AM, E.T. | April 2, 2013
Industrials, U.S.

Sales of sport-utility vehicles and pickup trucks jumped in March, spurred by rising home prices and an increase in housing construction, major automakers said on Tuesday.

The performance of SUVs and trucks outpaced gains in the broader auto market, but March is still expected to be the fifth straight month that the auto industry's annual sales pace will be above 15 million vehicles.

General Motors Co (GM-N 28.06 0.26 0.94%) said the stronger housing market helped its sales to small businesses climb by nearly a third. The largest U.S. automaker also posted a 31 percent sales gain in crossovers vehicles, such as the Chevrolet Traverse, while its overall sales were up 6.4 percent.

Ford Motor Co (F-N 13.07 0.17 1.32%), the number two U.S. automaker, posted a 16.3 percent rise in sales of its F-Series pickup trucks and a 15.4 percent spike in sales of SUVs, such as the Escape.

"The housing sector recovery is in full swing," Ford economist Jenny Lin told reporters and analysts.

The U.S. housing sector is starting to contribute to growth after years of dragging down the broader economy. Rising home values are helping U.S. consumers feel more confident about buying a new vehicle, GM and Ford executives said.


The U.S. auto market is among the strongest in the world and is increasingly critical for major automakers as car sales in Europe tumble. ...


"After this year, it's going to become a bit tricky," he said. "Getting to 15.5 (million) is not going to be as tough as getting to 16.5 (million). Getting there may take another couple of years."

Found it. Er... is this a good idea? }};-()

No cash? No worries. Home lenders ease up rules

By Diana Olick | – Fri, Mar 29, 2013 3:38 PM EDT

As housing heads into the critical spring market, credit is finally beginning to thaw. Lenders are increasingly approving low-down-payment loans, and government-sponsored mortgage giant Fannie Mae is buying more of them.

It is a noticeable shift from the last four years, when 20 percent down on a home purchase loan was the only game in the neighborhood.
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