According to the Teranet-National Bank Composite House Price Index, Canadian home prices rose in July by 0.3% from June.
Wood Markets News
Mortgage Rates Creep Higher in Week Ending August 20th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending August 20th, 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.99% with an average 0.8 point, up from last week when it averaged 2.96%.
Southern British Columbia Wildfire Leads to Evacuation Notices
The Canadian Broadcasting Company (CBC) is reporting that hundreds of residents in British Columbia’s southern Okanagan region have forced to evacuate their home on short notices following a wildfire outbreak on Tuesday (8/18) afternoon southeast of Penticton B.C.
Weekly Jobless Claims Climb Back Over 1 Million in the Week Ending August 15th, 2020
The U.S. Department of Labor is reporting that an additional 1,106,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, August 15th.
Adding Value and Innovating in a Post Pandemic Office Building Environment
The COVID-19 pandemic has changed many things in our lives. One of the major changes is how people are going to work in a post pandemic world when they are allowed to return to an office building setting.
In Response to COVID-19 Pandemic and Economic Slowdown Home Sizes Shrink in Q2
According to data from the second quarter of 2020, Census Quarterly Starts and Completion by Purpose and Design report and analysis by the National Association of Home Builders (NAHB) median single-family homes sizes decline during the Q2 of 2020.
Custom Home Building Outperforms Overall Housing Market in Q2 2020
A closer look, by the National Association of Home Builders (NAHB) at the U.S. Census Data from the Quarterly Starts and Completion by Purpose and Design report reveals that custom home building outperformed the overall building market during the tumultuous second quarter of 2020.
Mortgage Loans in Forbearance Decreases for Ninth Week in a Row
The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey reports that that the total number of loans now in forbearance decreased by 23 basis points from 7.44% of servicers’ portfolio volume in the prior week to 7.21% as of August 9, 2020.
Mortgage Applications Decline in Week Ending August 14th, 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending August 14th, 2020, the Market Composite Index decreased -3.3% on a seasonally adjusted basis from one week earlier.
Canadian Home Sales Surge 26% in July
The Canadian Real Estate Association (CREA) is reporting that pent up demand due to the recent pandemic lockdowns sent home sales soaring in July.