When it comes to buying a home and getting a mortgage most potential home buyers have at least some familiarity with Fannie Mae and Freddie Mac.
News in end use
FEA’s Weekly Order Survey – Dealers Outlook Remains Up Tempo
Dealers responding to this week’s Builder Activity Survey, noted that the uptick in June housing starts and permits, existing home sales, along with continuing record low mortgage interest rates and a drop in overall unemployment have all contributed to their upbeat outlook for their sales in the months ahead.
Housing Availability Shows Modest Signs of Improvement in Latest Housing Trend Report
The National Association of Home Builders (NAHB) latest Housing Trend Report (HTR) reveals that overall buyers anticipate that it might be slightly easier to find and buy a home in the second half of 2020.
Weekly Jobless Claims Climb Higher in the Week Ending July 18th Streak of 15 Weeks of Declines Ends
The U.S. Department of Labor is reporting that an additional 1.416 million Americans made their initial filing for unemployment benefits during the week ending on Saturday, July 18th.
Existing-Home Sales Rise 20.7% in June
The National Association of Realtors® (NAR) is reporting that total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 20.7% from May to a seasonally adjusted annual rate of 4.72 million in June.
U.S. Home Prices Decline -0.3% in May 2020
The Federal Housing Finance Agency (FHFA), Home Price Index (HPI) reports that U.S. house prices decline in May by -0.3% from the previous month. Year-over-year, house prices are 4.9% higher, (May 2019 to May 2020).
Mortgage Applications Trend Higher in Week Ending July 17th 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 17th July 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 4.1% on a seasonally adjusted basis from one week earlier.
Mortgage Loans in Forbearance Decrease for Fifth Week in a Row
The Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey for July 20th, reports that the total number of loans now in forbearance decreased by 38-basis points from 8.18% of servicers’ portfolio volume in the prior week to 7.80% as of July 12th, 2020.
American’s Considering Purchasing a Home Not Dissuaded by COVID-19 Pandemic
The latest National Association of Home Builders (NAHB) Housing Trends Report (HTR) reveals that number of Americans who said they are considering the purchase of a home in the next 12 months was 11% in second quarter of 2020.
Canadian Home Prices Increase Just as Market Begins to Slow
According to the Teranet-National Bank Composite Home Price Index (CHPI) which tracks data collected from public land registries to measure changes for repeat sales of single-family homes, Canadian home prices were up 0.7% in June when compared to May.