COVID-19 Cases Continue To Rise
Fri, 03 Jul 2020 12:46:47 GMT
There were 634,822 COVID-19 test results reported during the 24 hours ending July 2 with 52,815 (8.3%) testing positive. This was the second consecutive day with over 50,000 positive cases.
Number of Homeowners in Forbearance Declined
Fri, 03 Jul 2020 12:45:57 GMT
Overall, the number of active forbearance plans is down 104K from last week for the lowest weekly total active forbearances we’ve seen since the first week of May.
Mortgage Rates Hit All-Time Record Low
Thu, 02 Jul 2020 11:48:45 GMT
Freddie Mac reports 30-year fixed-rate mortgage averaged 3.07 percent with an average 0.8 point for the week ending July 2, 2020, down from 3.13 percent. A year ago at this time, the 30-year FRM averaged 3.75 percent.
New Jobs Set Record
Thu, 02 Jul 2020 11:48:12 GMT
The Labor Department reported Thursday that nonfarm payrolls increased by 4.8 million jobs in June, more than the 3 million jobs expected by economists polled by Reuters.
Weekly Initial Unemployment Claims Decline
Thu, 02 Jul 2020 11:47:38 GMT
The DOL reports a decrease of 55,000 initial unemployment claims from the previous week's revised level. The previous week's level was 1,482,000 claims.
Housing Supply vs. Purchase Loan Size
Thu, 02 Jul 2020 11:47:05 GMT
Despite fixed-rate mortgage rate moving further downward, mortgage activity has slowed.