My Financial Healthcheck

Home prices were up 1.6% in July, it was the third consecutive month of gains.  I expect these gains to flatten once the first time homebuyers tax credit goes away December 1st (the home needs to be purchased by or prior to that date).  Consumer bankruptcies topped the 1 million mark in the first nine months of the year, the highest level since 2005.  September filings were up 4%, total bankruptcies should top 1.4 million this year.  Homebuyers signed more sales contracts in August than in any month this year, boosted by the looming expiration of the first time home buyers tax credit.  The August Pending Homes Sales Index surged 6.4%, the seventh straight month-over-month improvement in the indicator.  Mortgage applications rose 16.4% with mortgages rates staying near the 5% area for the most qualified borrowers.