An in depth look, provided by the National Association of Home Builders (NAHB), on buildings impact on the Bureau of Economic Analysis (BEA) Q4 2020 Gross Domestic Product (GDP) report, reveals that housing was one of the bright spots in the overall US economy.
News in end use
U.S. Bureau of Economic Analysis Reports on Personal Income and Outlay for December 2020
The U.S. Bureau of Economic Analysis (BEA) on Friday (1-29-21) released its Personal Income and Outlays Report for December 2020. According to the BEA estimates personal income increased $116.6 billion (0.6%) in December.
Pending Home Sales Edge Lower in December but Up 21.4% for all of 2020
The National Association of Realtors® (NAR) has reported their Pending Homes Sales Index (PHSI), which is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ops, declined for the fourth straight month in a row failing -0.3% in December to a reading of 125.5.
Gross Domestic Product Increases in Q4 2020 but Year-Over-Year Declines -3.5%
According to the “advanced” estimate released today (1-28-21) by the U.S. Bureau of Economic Analysis real gross domestic product (GDP) increased at an annual rate of 4% in Q4 of 2020.
Mortgage Rates Move Lower Again in Week Ending January 28th, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending January 28th, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.73% with an average 0.7 point, down from last week when it averaged 2.77%.
New Single-Family Residential Home Sales Increase in December 2020 and Year-Over-Year
The U.S. Census Bureau has reported new residential single-family home sales for December 2020 were at a SAAR of 842,000, according to estimates.
Weekly Jobless Claims Decline in the Week Ending January 23rd, 2021
The U.S. Department of Labor is reporting that an additional 847,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, January 23rd.
Bureau of Labor Statistics Reports Unemployment Held Steady at 6.7% in December
The U.S. Bureau of Labor Statistics (BLS) is reporting that unemployment rates were lower in December in 19 states, higher in 12 states and the District of Columbia, and stable in 19 states. Forty-five states and the District had jobless rate increases from a year earlier, one state had a decrease, and four states had little or no change.
Shares of Mortgages in Forbearance Increase Slightly in Week Ending January 17th, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance increased slightly from 5.37% of servicers’ portfolio volume in the prior week to 5.38% as of January 17, 2021.
Mortgage Applications Decrease 4.1% in Week Ending January 22nd, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending January 22nd , 2021, the Market Composite Index a measure of mortgage loan application volume, decreased -4.1% on a seasonally adjusted basis from one week earlier.