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.
News in end use
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.
Smaller Multifamily Buildings Gaining Traction
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 CEO Convinced Housing Market Will Stay Tight into 202
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.
Personal Income Increases in September, Following August’s -2.5% Decline
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.
U.S. Construction Spending Up in September and for the First Nine Months of 2020.
The U.S. Census Bureau has announced that total construction spending during September 2020 was estimated at a seasonally adjusted annual rate of $1,414.0 billion, 0.3% above the revised August estimate of $1,410.4 billion.
Housings Impact on the GDP in Q3 2020
According to the ‘advance’ estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 33.1% in Q3 of 2020.
Builder Confidence in the 55+ Single-Family Housing Market Reaches New Record High in Q3 2020
The National Association of Home Builders (NAHB) is reporting that builder confidence in the single-family 55+ housing market reached an all time high in Q3 of 2020, rising 18 points to a reading of 83.