President Biden, on Wednesday, January 20th, 2021, issued an executive order that called on the federal departments and to the extended their bans on evictions and foreclosures through at least the end of March.
News in covid 19
Mortgage Rates Move Slightly Lower in Week Ending January 21st, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 21st January 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.77% with an average 0.7 point, down from last week when it averaged 2.79%.
Remodeler Confidence Remained High in Q4 2020
The National Association of Home Builders’ (NAHB) is reporting in their Q4 2020 Remodeling Market Index (RMI) had a reading of 79. The reading shows remodelers’ strong confidence in their markets, for projects of all sizes, in spite of the ongoing negative impacts from the COVID-19 pandemic.
Builder Confidence Declines Further in January
The National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI) indicates that builder confidence in the market for newly built single-family homes declined 3-points to a reading of 83 in January.
Federal Housing Finance Agency Extends Moratorium on Single-Family Foreclosures and Real Estate Evictions Through February 2021
The Federal Housing Finance Agency (FHFA) announced today (1/19/21) that Fannie Mae and Freddie Mac are once again extending moratoriums on single-family foreclosures and real estate owned evictions through the February 28th, 2021.
Canadian Home Sales Jump 7.2% from November to December – 47.2% Year-Over-Year
The Canadian Real Estate Association (CREA) is reporting that home sales in Canada jumped 7.2% in December from November. Setting a new record amid surging demand in the Greater Toronto and Vancouver areas. CREA noted that actual sales, not seasonally adjusted, rose 47.2% year-over-year.
U.S. Consumer Sentiment Moves Lower in Early January
According to the latest (1/15/21) University of Michigan’s Consumer Sentiment Survey U.S. consumer sentiment declined in early January to a reading of 79.2 down from December’s final reading of 80.7.
Shares of Mortgages in Forbearance Declined in Weekending January 3rd, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased from 5.53% of servicers’ portfolio volume in the prior week to 5.46% as of January 3, 2021.
Small Business Confidence Drops in December
The National Federation of Independent Business (NFIB) Small Business Optimism Index declined 5.5 points from November, to a reading of 95.9 in December. Falling below the historical average reading of 98, which was established in 1973.
October’s Monthly Furniture Insight Survey Reports Increasing Demand for Residential Furniture as Economy Continues to Recover from the COVID-19 Pandemic
Smith Leonard’s latest Monthly Furniture Insight survey of residential furniture manufacturers and distributors continues to show ongoing improvement. The survey considered a 40% increase in new orders over October 2019.