MND NewsWire MND NewsWire : Housing and Economic News
- New Home Sales on the Rise 4.3% in Januaryby Jann Swanson on February 24, 2021 at 5:28 pm
New home sales continued the turnaround, started in December, that ended three straight months of slowing sales. The U.S. Census Bureau and Department of Housing and Urban Development said newly constructed homes were sold in January at a seasonally adjusted annual rate of 923,000 units. This is an increase of 4.3 percent compared to the upwardly revised (from 842,000) rate of 885,000 in December and 19.3 percent above the estimate of 774,000 units in January 2020. Analysts polled by Econoday had projected sales to be flat compared to the December estimate, in a range of 809,000 to 905,000 units. Their consensus was 855,000 annualized sales. ...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
- Delinquency Rate Lowest in COVID Era; but Lingering Risks Remainby Jann Swanson on February 24, 2021 at 4:18 pm
Loan performance continued to improve in January although the number of delinquencies remains significantly elevated from pre-pandemic levels. Black Knight's first look at the month's loan performance data has both good news and some that is disquieting. The good news is a 121,000-loan decline in the number of loans that are 30 or more days past due but not in foreclosure when compared to the prior month. This reduced the national delinquency rate to 5.85 percent, the first time the rate has been under 6 percent since the pandemic hit in March 2020. The number of seriously delinquent loans, those 90 or more days past due but not in foreclosure, was reduced by 56,000 loans. Black Knight includes loans that are in active forbearance plans in its delinquency numbers if they are non-current. ...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
- Mortgage Application Volume Continues Declineby Jann Swanson on February 24, 2021 at 1:43 pm
The volume of mortgage applications for both home purchase and refinancing fell for the third straight time during the week ended February 19. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of that volume, dropped 11.4 percent on a seasonally adjusted basis. It was the largest single week decline since the week ended April 3, 2020. On an unadjusted basis the index was down 10.0 percent. The Refinancing Index decreased 11 percent from the previous week but was still 50 percent higher than the same week one year ago. The refinance share of mortgage activity decreased to 68.5 percent of total applications from 69.3 percent the previous week. ...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
- December Home Price Gains Highest Since 2014by Jann Swanson on February 23, 2021 at 4:25 pm
Both the S&P CoreLogic Case-Shiller and The Federal Housing Finance Agency (FHFA) report that the country ended the year with more than a 10 percent annual increase in home prices. The Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, showed a year-over-year gain of 10.4 percent in December while FHFA put the increase at 11.4 percent. The Case-Shiller National index showed significant acceleration in appreciation from the 9.5 percent reflected in its November report for the prior 12 months. The 10-City and 20-City appreciation was also faster than in November at 9.8 percent and 10.1 percent compared to 8.9 percent and 9.2 percent, respectively. ...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
- Existing Home Sales Rise, But Inventories Hamper Resultsby Jann Swanson on February 19, 2021 at 4:42 pm
Existing home sales started the 2021 with a small increase from the December sale levels, the second consecutive monthly gain. The National Association of Realtors® (NAR) said transactions that include pre-owned single-family homes, townhomes, condominiums, and co-ops, increased 0.6 percent in January to a seasonally adjusted annual rate of 6.69 million units compared to 6.76 million in December. The month's results are up 23.7 percent from the annual rate of 5.41 million sales in January 2020. Existing home sales have increased in seven of the last eight months, even though pending sales, generally considered a leading indicator for the following one or two existing sales reports, have posted four straight monthly losses. ...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.