According to a survey by Lending Tree, nearly 70% of home sellers responded that they would be willing to accept a lower offer than the original asking price for their properties.
The Federal Reserve Board recently released its Report on the Economic Well-Being of U.S. Households. The report provided results from the responses to the 2019 Survey of Household Economics and Decision making (SHED), as well as from responses to a follow-up survey conducted in April 2020. Surveyed items included income, employment, dealing with expenses, banking and credit, housing, education, and retirement.
Mortgage rates hit a new all-time low, as the average 30-year fixed-rate mortgage reached 3.13% in Freddie Mac’s Primary Mortgage Market Survey.
Many homeowners are still feeling some concern about their ability to pay their mortgage, according to a survey by Clever. According to the survey, 2020 home buyers are more than twice as likely to report feelings of anxiety and stress than home buyers who bought in the last five years, and they're less likely to report feelings of comfort, security, happiness, and pride.
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
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.
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.
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.
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.
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.
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