News in end use

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.

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.

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.

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.

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 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.

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.

The trend that favored larger multifamily unit buildings over recent years appears to be slowly changing. According to data from the Census Bureau Survey of Construction (SOC) of 2019, there was a slight increase in the number of multifamily units being built on smaller properties.

Redfin, the Seattle-based real estate brokerage firms, CEO Glenn Kelman says he is convinced that the housing market will stay tight into 2021. Kelman notes that while this is good for sellers, it is not such great news for buyers.

A closer look into the most recent data release from the Bureau of Economic Analysis (BEA) reveals that personal income increased to a seasonally adjusted annual rate (SAAR) of $19,804 billion in September.