Wood Markets News

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 9th July 2020.

The U.S. Department of Labor is reporting that an additional 1.314 million Americans made their initial filing for unemployment benefits during the week ending on Saturday July 4th.

The Canadian Mortgage and Housing Corporation (CMHC) is reporting that the seasonally adjusted annualized rate of housing starts in Canada rose by 8.3% to 211,681, from a revised 195,453 units in May.

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.

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.

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.

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.

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.

A data and analytics provider for mortgage industry estimates that 90% of homeowners could lower monthly payments with current mortgage rates.