October 2020 NAR SentriLock Home Showings Report
The new October 2020 NAR SentriLock Home Showings Report indicates that there was a slight decrease in nationwide foot traffic on a month-over-month basis, but showings activity remain at elevated levels with respect to year-over-year activity. www.nar.realtor – Research
Chicago Fed National Activity “Index Suggests Economic Growth Increased in October”
Note: This is a composite index of other data. From the Chicago Fed: Index Suggests Economic Growth Increased in October Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.83 in October from +0.32 in September. Three of the four broad categories of indicators used to construct the index […]
Weekly Retail Update: November 20, 2020
Temporary retail store closures experienced earlier in the year have returned. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, November 19, 2020
Mortgage rates hit another record low this week for the thirteenth time this year. www.nar.realtor – Research
Mortgage Rates Move Lower Today, But Don’t Count on a Repeat Tomorrow
Mortgage rates were little-changed yesterday–a fact that was ultimately at odds with underlying market movement by the end of the day. What does that mean? Simply put, mortgage rates are primarily determined by the trading prices of certain bonds (MBS, in this case). MBS change every second of the trading day though, so mortgage lenders […]
Mortgage Rates Remain Near Recent Lows
Posted To: Mortgage Rate Watch Mortgage rates were little-changed today, with the average lender only microscopically better than yesterday. That means few loan seekers will notice any difference from yesterday. That leaves us in line with the low rate levels seen immediately following the election earlier this month, and that’s as low as rates have […]
Vacation Home Sales are Getting a Pandemic Boost
Vacation home sales are outperforming total existing-home sales. Sales of homes intended for vacation use rose to 109,100 in the past three months of July-September, a 44% gain from the level of 75,600 sales during the same period last year www.nar.realtor – Vacation, Resort, and Second Homes
Housing Affordability Declines in September 2020 as Median Family Prices Continue to Surge
At the national level, housing affordability declined in September 2020 compared to a year ago but rose compared to August. www.nar.realtor – Research
Nice Bounce Back For Mortgage Rates After Rocky Start This Week
Posted To: Mortgage Rate Watch Earlier in the month, mortgage rates rose somewhat abruptly as lenders got in a defensive position ahead of the election. They’d learned in 2016 just how volatile the bond market (the key ingredient in the rate movement equation) could be after an election and it made sense to minimize exposure […]
Serious Delinquencies Set Records as Early Rates Trend Down
Extremely serious delinquencies, those loans 150 days or more past due, reached historically high levels in August. Five months into the COVID-19 crisis, Corelogic said the rate of delinquencies among those loans spiked to 1.2 percent, the highest level since at least January 1999, which we assume is the limit of the company’s records. CoreLogic […]