News in end use

According to the latest National Association of Realtors’® Housing Affordability Index (HAI) report, U.S. housing affordability improved for the second consecutive month in August. Despite rising to 151.3 in August from a low of 146.5 in June 2021, the HAI is still well below its August 2020 level of 165.8.

The U.S. Bureau of Labor Statistics (BLS) reported on Wednesday (10-13-21) that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in September, on a seasonally adjusted basis, after rising 0.3% in August. Over the past 12-months, the all-item index has increased 5.4% before seasonal adjustment.

Further analysis of the Bureau of Labor Statistics’ (BLS) August Job Openings and Labor Turnover Survey (JOLTS), provided by the National Association of Home Builders (NAHB) with a look specifically on the construction sector, reveals that overall, the number of open construction jobs held steady in August.

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending October 8, 2021, the Market Composite Index — a measure of mortgage loan application volume — increased 0.2% on a seasonally adjusted basis from one week earlier.

The National Federation of Independent Business (NFIB), one of the largest small business associations in the U.S., reported today (10-12-21) that their NFIB Small Business Optimism Index edged 0.4 points higher month-over-month in August to a reading of 100.1.

The Mortgage Banker Association (MBA) today (10-12-21) released their Mortgage Credit Availability Index (MCAI), which analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool, for September. According to the MBA, the MCAI rose 1.5% to 125.6 in September.

The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 27 basis points from 2.89% of servicers’ portfolio volume in the prior week to 2.62% as of October 3, 2021. According to MBA’s estimate, 1.3 million homeowners are in forbearance plans.

The U.S. Bureau of Labor Statistics (BLS) today (10-12-21) reported its Job Opening and Labor Turnover Survey (JOLTS) for August 2021. According to the JOLTS report, as of the last business day in August, the number of job openings declined to 10.4 million following a series record high of 10.9 million in July.

According to the latest Mortgage Banker Association’s CREF Loan Performance Survey, delinquency rates for mortgages backed by commercial and multifamily properties declined slightly in September. The survey indicated that 96.7% of outstanding loan balances were current, up from 96.6% in August 2021.

The Fannie Mae Home Purchase Sentiment Index® (HPSI) declined 1.2 points in September to a reading of 74.5. This occurred as survey respondents continue to report opposing opinions of homebuying and home-selling market conditions.