The Consumer Financial Protection Bureau (CFPB) a Federal Government Agency, has just finalized amendments to reinforce the ongoing economic recovery as the federal foreclosure moratoria are phased out. The amendments will also help protect mortgage borrowers from unwelcome surprises as the exit forbearance plans.
News in end use
New Listing of Homes For Sale Increase in June – Good News for Buyers
Realtor.com is reporting in their Monthly Housing Report for June 2021, that new listings showed signs of a comeback , as home prices broke a new record for the fifth months in a row at $ 385.000.
Total Value of Canadian Building Permits Decline -14.8% in May
Statistics Canada (StatCan) is reporting that following four consecutive months of reaching new highs, the total value of building permits dropped a record $1.6 billion (C$) or -14.8% to $9.5 billion in May.
Mortgage Rates Fall Below 3% in the Week Ending July 1st, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending July 1st 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.98% with an average 0.6 point, down from last week when it averaged 3.02%.
Total Nonfarm Payroll Increases by 850,000 in June – Unemployment Holds Steady at 5.9%
The U.S. Bureau of Labor Statistics (BLS) reported today, Friday, July 2nd, 2021, that Total nonfarm payroll employment rose by 850,000 in June, following increases in May of 583,000 and 269,000 in April.
Further Analysis of U.S. Census Bureau Construction Spending Data for May
A deeper dive into the U.S. Census Bureau Construction Spending data, for May, with further analysis provided by the National Association of Home Builders (NAHB) reveals that that total private residential construction spending rose 0.2% in May to a seasonally adjusted annual rate of $751.7 billion.
Challenger Reports June 2021 Job Cuts Down -87% from a Year Ago
According to the latest released Job-Cut Report from Challenger, Gray & Christmas (CG&C), Inc., U.S. based companies announced planned job cuts announced by U.S.-based employers fell 16.7% in June to 20,476 from the 24,586 announced in May.
Weekly Jobless Claims Decline in the Week Ending June 26th, 2021
The U.S. Department of Labor is reporting that an additional 364,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday June 26th, 2021.
Construction Spending in May Down -0.3%, Month-Over-Month but Up 7.5% Year-Over-Year
The U.S. Census Bureau has announced that total construction spending during May 2021 was estimated at a seasonally adjusted annual rate (SAAR) of $1,545.3 billion, -0.3% below the revised April estimate of $1,549.50 billion.
Canadian Gross Domestic Product Slips -0.3% in April
According to Statistics Canada (StatCan) real gross domestic product (GDP) contracted -0.3% in April. Ending 11 consecutive months of increases. With the first decline in 12 months, total economic activity remains about -1% below the level prior to the COVID-19 pandemic, which started in February 2020.