Pending Home Sales Dip in October
Mon, 30 Nov 2020 12:59:05 GMT
NAR reports pending home sales fell slightly in October, slipping 1.1% from September. Only the South had month-over-month gains.
Slower Jobs Gains in October
Mon, 30 Nov 2020 12:58:34 GMT
Nonfarm payroll employment increased in 45 states in October compared to the previous month. The largest increase came from California, which added 145,500 jobs during this time.
New COVID-19 Cases Reverse Course
Mon, 30 Nov 2020 12:57:42 GMT
There were 1,011,883 COVID-19 test results reported during the 24 hours ending November 29 with 131,441 (13.0%) cases testing positive. Last week the percentage of positive cases was 10.7%.
Mortgage Rates Remain At Record Low
Wed, 25 Nov 2020 12:45:32 GMT
Freddie Mac reports 30-year fixed-rate mortgage averaged 2.72 percent with an average 0.7 point for the week ending November 25, 2020, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.68 percent.
Refinance Applications Jump On Low Rates
Wed, 25 Nov 2020 12:44:54 GMT
The Mortgage Bankers Association reports their Refinance Index increased 5 percent from the previous week and was 79 percent higher than the same week one year ago. The seasonally adjusted Purchase Index increased 4 percent from one week earlier.
Conforming Loan Limits Increase For 2021
Wed, 25 Nov 2020 12:44:20 GMT
The Federal Housing Finance Agency announced a new baseline conforming loan limit for Fannie Mae and Freddie Mac in 2021 will be $548,250.