The HUD announced on Wednesday (6/17) that the Federal Housing Administration is providing a two-month extension of its foreclosure and eviction moratorium through August 31st, 2020.
News in end use
May Housing Starts & Strong Building Permits Point to Better Building Times Ahead
The U.S. Census Bureau is reporting that Privately-owned housing starts in May were at a seasonally adjusted annual rate of 974,000.
Mortgage Applications Increase in Week Ending June 12th 2020
According to data from the MBA Weekly Mortgage Application Survey, for the week ending June 12th, 2020, the Market Composite Index, increased 8.0% on a seasonally adjusted basis from one week earlier.
Fannie Mae’s Latest Forecast Anticipates Record Breaking Low Mortgage Rates to Decline Further
According to the latest Fannie Mae forecast, which was released on Monday June 15th, the lowest mortgage rates on record are about to be moving even lower.
Canadian Consumer Confidences Rises for Seventh Week in a Row
The Bloomberg Nanos Canadian Confidence Index is reporting that Canadians confidence in their economy rose for the seventh week in a row to 42.86 last week.
Existing Home Sales in Canada Surge in May
Existing Canadian home sales rose 56.9% month on month in May. This as they recover from their weakest levels on record in April, the result of the COVID-19 pandemic and shelter in place restrictions.
Builder Confidence Rockets Higher in June
According to the latest NAHB / Wells Fargo Housing Market Index (HMI) for June, builders’ confidence in the market for newly built single-family homes increased to 21 points to a reading of 58.
Southern California Home Sales Experience 7- Consecutive Week of Growth – U.S. Markets Heating Up
A sure sign that the housing market is moving closer to pre-pandemic levels, is that Southern California home buying rose for the seventh straight week, as house hunters put 10.3% more homes into escrow.
Housing Market Continues to Heat Up in June
According to a report from Redfin CEO Glenn Kelman, demand for houses continues to skyrocket. Seasonally adjusted demand for houses during the week ending Sunday, June 7th was 25% above pandemic levels.
Statewide Hurdles Limit Builders Ability to Lead U.S. Economy Beyond COVID-19 Setback
The mood in the homebuilding industry has changed dramatically since April’s National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index reported a 42-point decline in builder confidence.