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.
News in end use
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.
S&P CoreLogic Case-Shiller Report U.S. Home Prices Increase 5.7% in August
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, increasing demand and limited availability caused home prices to increase at a reported 5.7% annual gain in August, up from 4.8% in the previous month.
Potential Home Buyers Believe Availability Will Improve in the Months Ahead
According to the latest National Association of Homebuilders (NAHB) Housing Trends Report (HTR), 28% of prospective buyers in the third quarter of 2020 expected their search for a new or existing home would be easier in the months ahead.
New Home Sales Taper Off in September – Year-Over-Year Up 32.1%
The U.S. Census Bureau reported that the sales of new single-family houses in September 2020 were at a seasonally adjusted annual rate of 959,000.