News in end use


Mortgage Applications Decline in the Week Ending April 23, 2021

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey for the week ending April 23, 2021, the Market Composite Index — a measure of mortgage loan application volume — decreased -2.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -2% compared with the previous week.

U.S. Census Bureau Reports 90% of New Home Sales Financed by FHA or Conventional Mortgage Loans

The most recent U.S. Census Bureau’s Quarterly Sales by Price and Financing with analysis provided by the National Association of Home Builders (NAHB) reveals that conventional loans financed the largest share of new home sales since 2018. The share of sales backed by conventional loans in the Q1 2021 increased 2.8 percentage points (quarter-over-quarter) to 71.6% and 2.1 percentage points since Q1 2020.

Consumer Confidence Index Climbs Higher in April

The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, released today (4-27-21) their Consumer Confidence Index® (CCI) for April 2021. The CCI climbed higher in April, this following a strong monthly gain in March. The Index now stands at 121.7 (1985=100), up from 109.0 in March.

The Ongoing Pandemic Continues to Increase the Appeal of Homeownership

According to the National Association of Home Builders (NAHB) Q1 2021, Housing Trends Report (HTR), 16% of American adults are considering purchasing a home within the next 12-months. That is a 6-point increase over 2020, and marks the third (and largest) year-over-year gain in the share of prospective buyers in the HTR’s history.

New Residential Single-Family Home Sales Soar in March

The U.S. Census Bureau reported that new residential single-family home sales for March 2021 were at a SAAR of 1,021,000, according to estimates. This is 20.7% above the revised February rate of 846,000 and is 66.8% above the March 2020 estimate of 612,000.