Dealers responding to FEA’s Weekly Order Survey noted a slight uptick in their jobsite sales activity. As the calendar moves into November, builders, especially in the northern tier, are rushing to get jobsites under roof and prepared for the onset of more winterlike weather.
News in end use
Bureau of Economic Analysis Reports Real Gross Domestic Product at an Annual Rate of 33.1% in Q3
According to the ‘advance’ estimate released by the Bureau of Economic Analysis, real gross domestic product (GDP) increased at an annual rate of 33.1% in Q3 of 2020.
Mortgage Rates Hold at Near Record Low Levels in Week Ending October 29th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending October 29th, 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.81% with an average 0.7 point, up slightly from last week when it averaged 2.80%.
Weekly Jobless Claims Decline in the Week Ending October 24th, 2020
The U.S. Department of Labor is reporting that an additional 751,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, October 24th.
Pending Homes Sales Experience Minor Decline in September
The National Association of Realtors® (NAR) has reported their Pending Homes Sales Index (PHSI), which is a leading indicator of housing activity and is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ops, declined in September to a reading of 130.0.
Buyers Views of Home Affordability Improves in Q3 2020
According to the Q3 2020 Housing Trends Report (HTR) from the National Association of Home Builders (NAHB), 27% of buyers reported being able to afford half or more of the homes available for-sale in their desired markets.
Led by Refinance, Mortgage Applications Increased 1.7% in Week Ending 23rd October 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 23rd, 2020, The Market Composite Index, a measure of mortgage loan application volume, increased 1.7% on a seasonally adjusted basis from one week earlier.
U.S. Home Prices Increase Nationwide in August 1.5%
The Federal Housing Finance Agency (FHFA), Home Price Index (HPI) reports that House prices rose nationwide in August, up 1.5% above July’s reading.
Consumer Confidence Slips in October
In October, American consumers became more concerned about their prospects for employment, incomes and the economy. As a result, consumer confidence suddenly pulled back in October.
The Share of Mortgage Loans in Forbearance Drops to 5.90% in Weekending October 18th, 2020
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 2 basis points from 5.92% of servicers’ portfolio volume in the prior week to 5.90%, as of October 18, 2020.