The Labor Department yesterday reported an additional 3.17 million initial unemployment claims filed the week ending May 2, bringing total claims filed over the past seven weeks to 33.5 million.
Bankrate.com, New York, said more than half of mortgage and auto loan borrowers (54% of each) are concerned about their ability to make their payments over the next three months.
After falling by nearly 12 points last month, the Fannie Mae Home Purchase Sentiment Index decreased by nearly 18 more points in April to 63.0, its lowest reading since November 2011.
Mortgage credit availability fell sharply in April for the second straight month, to a six-year low, the Mortgage Bankers Association reported Thursday.
COVID-19 pandemic effects are reaching the small multifamily sector, with loan originations and asset prices falling, reported Arbor and Chandan Economics.