“The rapidly improving economy and labor market, increased vaccination rates and promising trend of declining COVID-19 cases all bode well for those who are still facing unemployment or underemployment because of the pandemic. However, millions of families are still facing economic distress, despite improving conditions since last March.”
–Gary Engelhardt, Professor of Economics with the Maxwell School of Citizenship and Public Affairs at Syracuse University.
Slightly under five million households did not make their rent or mortgage payments in March, an improvement from December 2020 and the lowest number since the onset of the COVID-19 pandemic, new research from the Mortgage Bankers Association’s Research Institute for Housing America reported.
Ahead of this Friday’s Employment report from the Bureau of Labor Statistics and this morning’s Initial Claims report from the Labor Department, ADP, Roseland, N.J. said private-sector employment jumped by 742,000 jobs from March to April.
Bill Belichick, one of the most successful coaches in professional football history, once said a team is “not the strength of the individual players, but it is the strength of the unit and how they all function together.” Such wisdom surely resonates with many business leaders in our industry. But how well do they live by it?
The Mortgage Bankers Association’s affordable housing initiative, CONVERGENCE, recently held virtual events in Memphis, Tenn., for area jobseekers and potential home buyers.
Gantry, San Francisco, secured $17.5 million to refinance two suburban office parks in two states owned by a Seattle-based private family office.
Auction.com, Irvine, Calif., reported more than three out of four distressed property buyers are local investors and nearly nine in 10 purchased five or fewer investment properties in 2020.
Mortgage applications fell overall from one week earlier as interest rates inched up, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending April 30.
The private-label CMBS market remains a mixed bag showing signs of a K-shaped recovery in the second quarter with delinquency and default numbers trending down now for nine consecutive months.
Soaring home prices and raging demand will not be enough to slow the housing train. In fact, they may actually help it.
