According to the latest report by Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, planned job cuts announced by U.S. based employers fell 86% in March to 30,603 from the 222,288 job cuts announced in March 2020, when the fallout from the COVID-19 lockdowns began to impact businesses across the country.
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Pending Home Sales Index Decline for Second Month in a Row in February
The National Association of Realtors® (NAR) has reported that 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 second month in a row, failing -10.6% in February to a reading of 110.3.
Canadian Real GDP Increases 0.7% in January
Statistics Canada (StatsCan) is reporting that real gross domestic product (GDP) in Canada rose 0.7% in January, following 0.1% growth in December. This marks the ninth consecutive monthly increase, continuing to offset the steepest drops on record in Canadian economic activity observed in March and April 2020.
Mortgage Applications Decrease for Fourth Week in a Row in the Week Ending March 26, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey for the week ending March 26, 2021, the Market Composite Index — a measure of mortgage loan application volume — decreased -2.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -2% compared with the previous week.
ADP Reports Private Sector Employment Increased by 517,000 Jobs in March
According to the March ADP® National Employment Report™, nonfarm private sector employment private sector employment increased by 517,000 jobs from February to March. The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics.
S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index Reports Home Prices Gained in January
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index report, which covers all nine U.S. Census divisions, home prices gained 11.2% in January (on an annual basis), up from 10.4% increase in December 2020. The 10-City Composite annual increase came in at 10.9%, up from 9.9% in the previous month.
Federal Housing Finance Agency Reports January House Prices Increased 12% Year-Over-Year
According to the latest Federal Housing Finance Agency’s House Price Index (FHFA HPI®), house prices rose nationwide in January, up 1.0% from the December 2020 reading. Year-over-year house prices have increased 12.0% (January 2020 to January 2021).
The Conference Board Consumer Confidence Index® Surges Higher in March 2021
The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, released today (2-23-21) their Consumer Confidence Index® (CCI), which surged in March to its highest reading in a year after a modest increase in February.
Shares of Mortgages in Forbearance Decline Below 5.0% in Week Ending March 21, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 9 basis points from 5.05% of servicers’ portfolio volume in the prior week to 4.96% as of March 21, 2021.
State Employment and Unemployment Report for February 2021
The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) has released the February 2021 State Employment and Unemployment report. This news release presents statistics from two monthly programs. The civilian labor force and unemployment data are modeled based largely on a survey of households. According to the BLS, unemployment rates were lower in February in 23 states and D.C., higher in 4 states, and stable in 23 states.