Black Knight: Black Knight: 4.75 Million Homeowners Now in COVID-19-Related Forbearance Plans; Nearly Half Made April Mortgage Payments

Note: Both Black Knight and the MBA (Mortgage Bankers Association) are putting out weekly estimates of mortgages in forbearance. From Black Knight: Black Knight: 4.75 Million Homeowners Now in COVID-19-Related Forbearance Plans; Nearly Half Made April Mortgage Payments "Of the 4.25 million homeowners who were in active forbearance as of the end of April, nearly half – 46% – still made their April mortgage payment ," said Jabbour. "The fact that only 54% of borrowers in forbearance actually missed their payments helps explain the disparity between April's delinquency and forbearance rates.......(read more)

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Multifamily Builder and Developer Confidence Falls in First Quarter on COVID-19 Pandemic

Confidence in the market for new multifamily housing weakened significantly in the first quarter of 2020, according to results from the National Association of Home Builders' Multifamily Market Survey (MMS). The MMS consists of two indices: the Multifamily Production Index (MPI), which fell 22 points to 27 (Figure 1), and the Multifamily Vacancy Index (MVI), which rose 19 points to... Read More ›...(read more)

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Stocks slip on U.S.-China tensions; oil rises to 2-1/2-month high

Global equities trended lower on Thursday on concerns about the long-term economic impact of the new coronavirus and simmering U.S.-China tensions, though oil markets set aside those worries and marched to a 2-1/2 month high....(read more)

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April home sales drop nearly 18%, while decline in inventory pushes prices to a record high

The economic fallout from the coronavirus hit the housing market hard in April....(read more)

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Philly Fed Manufacturing firms reported "continued weakness" in May

From the Philly Fed: May 2020 Manufacturing Business Outlook Survey Manufacturing firms reported continued weakness in regional manufacturing activity this month, according to results from the Manufacturing Business Outlook Survey. Despite remaining well below zero, the survey's current indicators for general activity, new orders, shipments, and employment rose this month after reaching long-term low readings in April. The firms expect the current slump in manufacturing activity to last less than six months, as the broadest indicator of future activity strengthened further from last month's......(read more)

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Gains Expected for Single-Family Built-for-Rent Construction

The number of single-family homes built-for-rent (SFBFR) posted a small year-over-year increase for the first quarter of 2020 despite otherwise challenging market conditions. The SFBFR market has received attention as a means to add single-family inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period involving elevated unemployment and weak wage growth. Single-family... Read More ›...(read more)

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Weekly jobless claims rose 2.438 million, vs 2.4 million estimate

Weekly jobless claims rose 2.438 million, vs 2.4 million estimate<br/>https://ift.tt/36n8CJ0read more)

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