According to the National Association of Realtors, existing-home sales rebounded at a record pace in June 2020, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic.
The total number of U.S. loans now in forbearance decreased by 38 basis points from 8.18% of servicers' portfolio volume in the prior week to 7.80% as of July 12, 2020.
According to Freddie Mac's latest Primary Mortgage Market Survey for Mid-July 2020, the 30-year fixed-rate mortgage in the U.S. averaged 2.98 percent, the lowest rate in the survey's history dating back to 1971.
The number of homes for sale continues to be an issue, as June inventory experienced a decline of 19% when compared to June of 2019.
Mortgage applications for new home purchases in the U.S. increased 54.1 percent compared from a year ago. Compared to May 2020, applications increased by 20 percent.
This represents a 2.5-percentage point increase in the overall delinquency rate compared to March 2020, when it was 3.6 percent.
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.03 percent in the U.S., the lowest rate in the survey's history dating back to 1971.
Zillow is reporting this week that a rush of high-end homes hit the U.S. market in June 2020, reversing a trend that saw them drop the farthest and fastest when the coronavirus pandemic hit earlier this year.
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending July 3, 2020, U.S. mortgage applications increased 2.2 percent from one week earlier.
15.9% of Black Americans who apply for mortgages are rejected nationwide, compared with just 7% of white Americans.
U.S. employers added a much-larger-than-expected 4.8 million workers to payrolls last month. The U.S. unemployment rate also fell to 11.1 percent.
According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 26, U.S. mortgage applications decreased 1.8 percent from one week earlier.
The level of commercial/multifamily mortgage debt outstanding rose by $61.0 billion in the first quarter of 2020.
According to the National Association of Realtors, U.S. pending home sales mounted a record comeback in May 2020, seeing encouraging contract activity after two previous months of declines brought on by the coronavirus pandemic.
The total number of U.S. loans now in forbearance decreased by 1 basis point from 8.48% of servicers' portfolio volume in the prior week to 8.47% as of June 21, 2020.
Redfin is reporting that a record 27% of home searchers looked to move to another U.S. metro area in April and May 2020.
Florida's Realtors are reporting that the state's housing market continued to reflect the economic impact of the coronavirus pandemic in May 2020.
According to Redfin, the impact of coronavirus shutdowns on homebuyer demand has been short and muted.
