After being basically unchanged in May, the Conference Board’s Consumer Confidence Index® (CCI) increased in June.
News in end use
Increases in Canadian Home Prices will be Limited by High Unemployment and Lower Immigration
A recent Reuters poll indicates that Canadian home prices will increase at a much slower pace this year, than predicted just three short months ago.
A Full V-Shaped Housing Recovery Continues
According to Logan Mohtashami, a columnist with Housewire.com, last Wednesday’s Mortgage Banker Association applications data, confirmed a full V-shaped recovery in the housing market.
Home Prices Rise in April, Despite Nationwide COVID-19 Economic Shutdown
According to the S&P CoreLogic Case-Shiller National Home Price Index (HPI), prices for existing homes rose 4.7% compared with April 2019 and were up 4.6% in the previous month (March).
High Court Rules Consumer Financial Protection Bureau is Unconstitutional
In a decision rendered on Monday 6-29-20, the Supreme Court said the structure of the Consumer Financial Protection Bureau is unconstitutional.
Pending Homes Sales Rebound in May by a Record-Setting 44.3% Monthly Increase
The National Association of Realtors®, has reported that after two months so declines their Pending Homes Sales Index increased 44.3% to a reading of 99.6 in May.
The Bureau of Economic Analysis Reports Personal Income Decreased in May
The Bureau of Economic Analysis (BEA) reports that personal income decreased in May to a seasonally adjusted annual rate (SAAR) of $19.839 billion.
Luxury Homes Sales Outpacing Rest of Housing Market
According to realtor.com’s Luxury Housing Reported, which was released on Thursday, June 25th, the luxury market is actually outpacing the rest of the housing market in both price growth and virtual and in person tours.
Consumer Sentiment Index Edges Higher in June
The University of Michigan’s Survey of Consumers revealed that the Index of Consumer Sentiment edged higher to 78.1 (final) in June from 72.3 in May.
Mortgage Forbearances Increase after Three Consecutive Weeks of Declines
According to Black Knight, a mortgage data research firm, mortgage forbearances rose this week, after three consecutive weeks of declines.