News in end use


Mortgage Delinquencies Decline in Q3 of 2021

According to the Mortgage Bankers Association’s (MBA) latest National Delinquency Survey (NDS), the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjust rate of 4.88% of all loans outstanding in Q3 of 2021. The delinquency rate was down 59 basis points from Q2 of 2021 and down 277 basis points from one year ago.

Home Prices Increase for Sixth Consecutive Month in September

According to the Radian Home Price Index (HPI) data released earlier in the month by Red Bell Real Estate, LLC, a Radian Group Company Inc., U.S. home prices in September appreciated at an annualized 17.6% from the month of August. This marks the sixth consecutive month of reporting an all-time record month-over-month rate.

Weekly Jobless Claims Decline Further in the Week Ending November 6, 2021

The U.S. Department of Labor is reporting that an additional 267,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday November 6, 2021 — a decrease of 4,000 from the previous week’s revised level. This is the lowest level for initial job claims since March 14, 2020, when it was 256,00.

Fannie Mae’s Home Purchase Sentiment Index Increases Modestly in October

On Monday (11-8-21), Fannie Mae released their Home Purchase Sentiment Index (HPSI) for October. The October HPSI increased one point to a reading of 75.5, with consumers expressing mixed feeling on the current homebuying and home selling markets. In addition, a good majority of those polled felt pessimistic toward the overall financial landscape of the U.S. economy.

NFIB’s Small Business Optimism Index Moves Lower in October

The National Federation of Independent Business (NFIB), one of the largest small business associations in the U.S., reported today (11-9-21) that their NFIB Small Business Optimism Index dropped -0.9 points to a reading of 98.2 in October. The NFIB Uncertainty Index dropped -7 points to a reading of 67, the lowest level since January 2016.

Mortgage Credit Availability Increased Slightly in October

The Mortgage Banker Association (MBA) today (11-9-21) released their Mortgage Credit Availability Index (MCAI), which analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool, for October. According to the MBA, the MCAI rose 0.1% to 125.7.6 in October. Increases in the index are indicative of loosening credit.

The Fed Says China’s Real Estate Issues Could Impact the U.S.

On Monday (11-8-21), the U.S. Federal Reserved released its latest Financial Stability Report (FSR), which is released twice a year. In the report, the Fed said, “Stresses in China’s real estate sector could strain the Chinese financial system, with possible spillovers to the United States.” The report pointed to the size of China’s economy and financial system, and global trade links.