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%.
News in end use
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.
Housing Trend Report Finds COVID-19 Pandemic Continues to Influence on Home Purchasing
The latest Housing Trend Report (HTR) from the National Association of Home Builders (NAHB) reveals that the share of Americans who are considering the purchase of a home in the next 12 months was 15% in the Q4 of 2020, four percentage points higher than a year earlier and the largest year-over-year gain in the 3+year history of this series.
The Conference Board Reports Consumer Confidence Index® Improved in January
The Conference Board is reporting that their Consumer Confidence Index® improved moderately in January 2021 after declining in December 2020. The index now stands at 89.3, up from December’s reading of 87.1.
S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index Reports Home Prices Gained in November
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 on an annual basis gained 9.5% in November, up from 8.4% increase in October.
Federal Housing Finance Agency Reports November House Prices Increased 11% Year-Over-Year
According to the latest Federal Housing Finance Agency’s House Price Index (FHFA HPI®) house prices rose nationwide in November, up 1.0% from the October reading. Year-over-year house prices have increased 11.0% (November 2019 to November 2020).