Blogs

Rent Payments Reach 89 Percent

22 June 2020
Mike Lembeck

Rental payments in the U.S. hit 89 percent as of June 13, a jump of more than 8 percent from the previous week, according to the latest report from the National Multifamily Housing Council

Understanding the Causes of Mortgage Credit Tightening

22 June 2020
Mike Lembeck

As the economic impact of the pandemic continues, one of the biggest issues to emerge in housing finance is the availability of mortgages. In a new paper by former Freddie Mac CEO Don Layton, he discusses the implication that somehow much or even all of the tightening is illegitimate, a failure of government policy; that it should be largely if not completely avoidable with the right government actions; and that those actions should not require the kind of subsidies we are seeing for small business or specific industries, like the airlines.

Delinquencies Jump by 90%

15 June 2020
Mike Lembeck

The national delinquency rate increased by 90.22%, according to Black Knight's latest Mortgage Monitor Report, with 1.6 million new delinquencies since March and a rate of 6.45%, the largest single-month increase on record.

30% of Americans Missed June Housing Payments

15 June 2020
Mike Lembeck

Many renters and homeowners alike are missing payments, according to a survey conducted by Apartment List. The June rate is 30%, down slightly from 31% in May but up from 24% in April. Of those who have yet to make their June housing payment, one-third made a partial payment and two-thirds made no payment at all.

Housing, Economy Turning Corner Amidst COVID-19

15 June 2020
Mike Lembeck

The U.S. economy added 2.5 million jobs in May and the unemployment rate declined to 13.3% from the prior report’s 14.7%, according to the Bureau of Labor Statistics.

American’s Sentiment Toward Housing Turning Positive

15 June 2020
Mike Lembeck

Fannie Mae’s Home Purchase Sentiment Index (HPSI) rose 4.5 points in May 67.5—increasing slightly from nearing an all-time survey low in April.

Purchase Rate Nearing Pre-Pandemic Levels

08 June 2020
Mike Lembeck

AEI’s latest housing market indicator shows that the purchase rate lock volume for the week of May 25 was up 19% from a year ago, with analysis saying the worst of the “near-term effects” of COVID-19 could be behind housing.

Housing ‘Likely’ Hit Low Point

08 June 2020
Mike Lembeck

Realtor.com’s May Monthly Housing Trends report forecasts that the U.S. housing market has “likely” reached its low point, with signs of recovery and even strengthening emerging in April and May. Growth is expected to continue over the summer.