CoreLogic, a leading provider of consumer, financial and property data, analytical and services, is predicting that in spite of home prices increasing 4.8% year-over-year in May, that home prices will stall over the summer and they estimate decline by -6.6% by May 2021.
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Fannie Mae’s Home Purchase Sentiment Index is on the Rise
According to Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track consumers’ housing-related attitudes, intentions and perceptions, increased 9-points in June to a reading of 76.5.
Construction Sector Hiring Recovers in May
A deeper review of the Bureau of Labor Statistic (BLS) Job Opening and Labor Turnover Survey for May, providers a clearer picture of employment in the construction industry.
Mortgage Applications Increase in Week Ending July 3rd 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 3rd July 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 2.2% on a seasonally adjusted basis from one week earlier.
Mortgage Loans in Forbearance Drop for Third Week in a Row
The June 28th 2020, Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey reports that the total number of loans now in forbearance decreased by 8- basis points from 8.47% of servicers’ portfolio volume in the prior week to 8.39% as of June 28, 2020.
The Federal Reserve Bank of Atlanta Warns of Mortgage Forbearance Turning into Mortgage Foreclosures as COVID-19 Cases Spike
The Atlanta Fed believes COVID-19 spike in key states could lead to higher foreclosure rates.
Americans Who Qualify for Refinancing of First Mortgage Could Save Hundreds of Dollars Monthly
A data and analytics provider for mortgage industry estimates that 90% of homeowners could lower monthly payments with current mortgage rates.
Canadian Consumer Confidence Up for 10-Weeks in a Row
Consumer confidence increased in Canada for the 10th straight week according to Bloomberg Nanos Canadian Confidence Index.
Federal Housing Finance Agency Announces Extension of Forbearance for Multifamily Property Owners
The FHFA has announced that both Fannie Mae and Freddie Mac are going to be allowing services to extend forbearance for multifamily property owners with existing forbearance agreement for up to three additional months, totaling forbearance up to six months.
Mortgage Rates Hit Lowest Level Since 1971, for the Week Ending July 2nd
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 2nd July 2020.