Delinquency rates for mortgages backed by commercial and multifamily properties decreased again in March, reaching the lowest level since the onset of the COVID-19 pandemic, according to the Mortgage Bankers Association’s latest monthly MBA CREF Loan Performance Survey.
Pending home sales fell for the second straight month in February, the National Association of Realtors reported yesterday. Each of the four major U.S. regions witnessed month-over-month declines in February, while results were mixed in the four regions year-over-year.
Two reports—from ATTOM Data Solutions, Irvine, Calif., and First American Financial Corp., Santa Ana, Calif.—say despite sharp spikes in home prices, homeownership remains affordable for most workers, which continues to drive housing demand.
Ahead of this morning’s initial claims report from the Labor Department and Friday’s jobs report from the Bureau of Labor Statistics, ADP, Roseland, N.J., said private-sector employment jumped by 517,000 jobs from February to March.