INFOGRAPHIC: Latest Trends In Homebuyer Demand
Recent reports by the National Association of Realtors® and LendingTree show promising trends in homebuyer demand. Take a look at the infographic we’ve put together to see what the data shows.
NAR Urges Congress To Pass Emergency Rental Assistance For Housing Providers
The National Association of Realtors® signed a coalition letter on June 1 urging Congress to take action on emergency rental assistance, both for renters and the owners of their housing. “If residents cannot pay their full rent obligations, housing providers will be at risk of not meeting their financial obligations as well,” the letter states. “This puts the property and the whole community at risk at a time of needed housing stability.” Get HousingWire’s recap of the statement or read the full letter here.
VIDEO: Coronavirus-Fueled Wave of Foreclosures Unlikely
Last Friday, Mortgage Bankers Association CEO, Bob Broeksmit, appeared on CNBC to discuss the state of the housing market amid the coronavirus pandemic. During the interview, Broeksmit covered the 18% year-over-year growth in purchase applications in the week ending May 29th and explained why he doesn’t see a repeat of the foreclosure crisis happening this time.
U.S. Unemployment Rate Fell to 13.3% in May
According to the Wall Street Journal, “the jobs report boosted hopes that the economy has moved beyond the worst fallout from the pandemic and may recover more quickly than expected.”
The unemployment numbers provided welcome news as economists surveyed by Refinitiv had previously predicted another 8 million job losses and an unemployment rate nearing 20%. A large number of workers said they were “employed but absent from work.” Many of them should have been counted as a temporary layoff, which would have made the May unemployment rate about 3% higher.
FHFA Director Mark Calabria ‘Encouraged’ By Incoming Housing Market Data
Testifying before the Senate Banking Committee on Tuesday, Federal Housing Finance Agency Director Mark Calabria said that he has been “encouraged” by incoming data on the state of the mortgage markets, including forbearance rates. Check out the article to see what he had to say.