The Primary Mortgage Market Survey for the week ending June 11th, 2020, shows that 30-year fixed-mortgage rate averaged 3.21% with an average 0.9 point, up slightly from last week when it averaged 3.18%.
The U.S. Department of Labor is reporting that an additional 1.542 million Americans made their initial filing for unemployment benefits during the week ending on Saturday June 6th.
The Federal Reserve concluded its 2-day Federal Open Market Committee meeting on Wednesday June 6th and at its conclusion announced that it will hold interest rates near zero.
The U.S. Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI) declined -0.1% in May on a seasonally adjusted basis after falling -0.8% in April.
According to data from the MBA Weekly Mortgage Application Survey, for the week ending June 5th, 2020, the Market Composite Index increased 9.3% on a seasonally adjusted basis from one week earlier.
According to the Bureau of Labor Statistics (BLS) Job Openings Labor Turnover Survey (JOLTS), there was a clear and sudden stop associated with the COVID-19 pandemic and its impact on the construction labor market.
According to the latest Federal Reserve’s G.19 Consumer Credit Report, consumer credit, excluding loads secured by real estate, decreased at a seasonally adjusted annual rate of 19.6%, through April of 2020.
According to the National Bureau of Economic Research (NBER) the U.S. is now officially in a recession, the worst downturn since the Great Depression.
According to Canada Mortgage and Housing Corporation’s monthly Starts and Completion Survey for May 2020, the trend in housing starts was 196,750 units in May 2020, down from 198,644 units in April 2020.
In a deeper dive into the latest analysis of the NAHB Geography Index, single-family construction was shown to be growing at a faster pace in regions with lower population density.