The Bureau of Economic Analysis (BEA) reports that personal income decreased in May to a seasonally adjusted annual rate (SAAR) of $19.839 billion.
According to realtor.com’s Luxury Housing Reported, which was released on Thursday, June 25th, the luxury market is actually outpacing the rest of the housing market in both price growth and virtual and in person tours.
The University of Michigan’s Survey of Consumers revealed that the Index of Consumer Sentiment edged higher to 78.1 (final) in June from 72.3 in May.
According to Black Knight, a mortgage data research firm, mortgage forbearances rose this week, after three consecutive weeks of declines.
Dealers are reporting another week of steady to strong sales. Some dealers are anticipating that their sales might be a bit slower next week, as builders take a few days off to celebrate the 4th of July holiday.
The U.S. Department of Labor is reporting that an additional 1.48 million Americans made their initial filing for unemployment benefits during the week ending on Saturday June 20th.
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending June 25th, 2020. The PMMS shows that 30-year fixed-mortgage rate averaged 3.13% with an average 0.8 point, unchanged from last week.
A deeper dive into the NAHB/Wells Fargo Housing Market Index report shows that as the COVID-19 stay-in-place orders began to be lifted in May and June, that housing data almost immediately began to rebound.
According to the latestMBA Forbearance and Call volume survey, the total number of loans now in forbearance decreased from 8.55% of servicers’ portfolio volume in the prior week to 8.48% as of June 14, 2020.
According to data from the MBA Weekly Mortgage Application Survey, for the week ending June 19th, 2020, the Market Composite Index decreased -8.7% on a seasonally adjusted basis from one week earlier.