According to CoreLogic, Inc. the California based corporation that provides financial, property, and consumer information, analytics, and business intelligence, as prices rise, home equity multiplies.
News in end use
Mortgage Rates Remain at New Record Lows in the Week Ending 10th December 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 10th December 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.71% with an average 0.7 point, unchanged from last week.
Weekly Jobless Claims Climb Higher in the Week Ending 5th December 2020
The U.S. Department of Labor is reporting that an additional 853,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday December 5th. An increase of 137,000 from the previous week’s revised level.
Consumer Price Index Increased in November
The U.S. Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI), excluding the volatile food and energy components (“core” CPI) was 0.2% higher on a seasonally adjusted basis after being reported flat in October.
Job Opening and Labor Turnover Survey for October 2020
The U.S. Bureau of Labor Statistics (BLS) has posted its Job Opening and Labor Turnover Survey (JOLTS) for October 2020. According to the JOLTS report the number of job openings was little changed from September at 6.7 million, which is a rate of 4.5%, as of the last business day of October.
Mortgage Applications Decreased -1.2% in Week Ending December 4th, 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending December 4th, 2020, The Market Composite Index, a measure of mortgage loan application volume, decreased -1.2% on a seasonally adjusted basis from one week earlier.
The Share of Mortgage Loans in Forbearance Unchanged in the Week Ending November 29th, 2020
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that after two consecutive weeks of increases the total number of loans as of November 29th, 2020, now in forbearance remained unchanged relative to the prior week at 5.54%.
Fannie Mae’s Home Purchase Sentiment Index Drops in November
After three successive months of gains, the Fannie Mae Home Purchase Sentiment Index® (HPSI) fell 1.7 points in November to a reading of 80.0.
Canadian Consumer Confidence at Post-Pandemic Levels
The Bloomberg Nanos Canadian Confidence Index, which is a composite measure of financial health and economic expectations, reached a reading of 53.3 last week.
Share of Custom-Built Homes Increased in 2019
According to the U.S. Census Bureau’s Survey of Construction (SOC), the share of custom-built homes increased to 20.2%, or one fifth of all single-family starts in 2019. The custom home market is made of both contractor-built or owner- built houses, which are built one at a time for owner occupancy on the owner’s land with either the owner or builder acting as the general contractor.