According to the National Association of Home Builders (NAHB) / Wells Fargo Housing Opportunity Index (HOI) in Q3 of 2020, housing affordability continued to decline in spite of record low mortgage rates, which were offset by rising home prices and lack of available homes for sale.
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October’s Nonfarm Payroll Employment Moves Higher for Sixth Consecutive Month
The U.S. Bureau of Labor Statistics (BLS) is reporting that total nonfarm payroll employment rose for the sixth consecutive month in October by 638,000.
Respondents to FEA’s Weekly Order Survey Reported Experiencing Limited Follow Through from Last Week’s Modest Uptick in Jobsite Sales Activity
Respondents to FEA’s Weekly Order Survey reported experiencing limited follow through from last week’s modest uptick in jobsite sales activity. Dealers in the southern tier of states reported greater activity than their counterparts in the north, which is typical for this time of the year.
The Share of Mortgage Loans in Forbearance Drops to 5.83% in Weekending October 25th, 2020
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports the total number of loans now in forbearance decreased by 7 basis points from 5.90% of servicers’ portfolio volume in the prior week to 5.83% as of October 25, 2020.
October Job Layoffs Down 32% from September
According to the monthly report released today (11/5) from Challenger, Gray and Christmas Inc., a global outplacement and business and executive coaching firm, October layoffs were the lowest in seven months, as U.S. based employers announced plans to cut 80,666 from their payrolls.
Weekly Jobless Claims Decline in the Week Ending October 31st, 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 31st. A decrease of 7,000 from the previous week’s revised level.
Mortgage Rates Hit A New Record-Breaking Low Level in the Week Ending November 5th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 5th November 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.78% with an average 0.7 point, down from last week when it averaged 2.81% percent.
Annual US Home Price Appreciation Hits Six-Year High in September
CoreLogic®, a leading global property information, analytics and data-based solution provider released on Tuesday (9/3) the CoreLogic Home Price Index (*HPI™) and HPI Forecast™ for September 2020.
ADP Reports Private Sector Employment Increased by 365,000 Jobs in October
ADP has released their National Employment Report® (NER) for October 2020. According to the report private sector employment increased by 365,000 jobs from September to October.
Mortgage Applications Increased 3.8% in Week Ending 30th October 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 30th 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 3.8% on a seasonally adjusted basis from one week earlier.