The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.97% of all loans outstanding at the end of Q2, MBA reported.
News in end use
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for August
The University of Michigan Index of Consumer Sentiment rose to a reading of 67.8 in August, up from 66.4 in July. This is a month-over-month increase of 2.1% but down 2.3% year-over-year.
US Builder Confidence Drops for Fourth Consecutive Month in August
The NAHB/Wells Fargo Housing Market Index showed that builder sentiment in the market for newly built single-family homes fell 2 points to a reading of 39 in August.
Canadian Home Sales Activity Slows Month-Over-Month in July
Home sales activity posted a 0.7% decline between June and July, CREA reported.
US Fixed-Rate Mortgages Creep Higher in the Week Ending August 15th
The 30-year fixed-rate mortgage averaged 6.49%, up from last week when it averaged 6.47%, Freddie Mac reported.
Investor Home Purchases Back on Track in Q2, Posting Biggest Gain in Two Years
Redfin reported that investors purchased $43 billion worth of homes in Q2—up 13.7% from a year earlier and the biggest gain in two years.
Multifamily Lending Declines 49% Year-Over-Year in 2023
In 2023, 2,520 different multifamily lenders provided a total of $246.2 billion in new mortgages for apartment buildings with five or more units, MBA reported.
US Weekly Initial Jobless Claims Decline in the Week Ending August 10th
The advance figure for seasonally adjusted initial unemployment claims was 227,000, a decrease of 7,000 from the previous week’s revised level.
US Residential Building Materials Costs Decline in July
The seasonally adjusted PPI for softwood lumber fell 1.04% in July, after rising 3.29% in June.
US Consumer Price Index Increases 2.9% Year-Over-Year in July
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis, after declining 0.1% in June.