The longest economic expansion in U.S. history has likely come to an end amid the unprecedented impacts of COVID-19, according to the Fannie Mae Economic and Strategic Research Group.
Tag: Doug Duncan
Another 5.2 Million Fill for Unemployment; 4-Week Total Rises to 22 Million
The Labor Department reported a seasonally adjusted 5.245 million people filed initial unemployment claims for the week of ending April 11, marking the fourth consecutive week of multi-million claims and bringing total claims filed in the past four weeks to more than 22 million.
Fannie Mae: COVID-19 Concerns Lead to Steep Drop in Housing Sentiment
Fannie Mae, Washington, D.C., said its monthly Home Purchase Sentiment Index fell by 11.7 points to 80.8 in March, its lowest reading since December 2016.
Another Week for Record Unemployment Claims
The Labor Department yesterday reported a record 6.648 million Americans filed initial unemployment insurance claims last week, smashing the previous record set the previous week.
For 3.3 Million Americans, Coronavirus Economy Just Got Real
The Labor Department on Thursday said unemployment claims skyrocketed to 3.3 million—the first real indicator of just how potentially devastating the economic effects of the coronavirus can be at the personal and national levels.
Fannie Mae: Lenders’ Profit Margin Outlook Hits High on Strong Consumer Demand
Fannie Mae, Washington, D.C., said mortgage lenders’ profit margin outlook for the next three months reached a new survey high based on data collected last month.
Fannie Mae: Consumer Confidence in Housing Near Record High Despite Slight Dip
The Fannie Mae Home Purchase Sentiment Index dipped slightly in February, decreasing 0.5 points to 92.5, but remained near its survey high of 93.8.
Industry Briefs
First American Financial Corp., Santa Ana, Calif., a provider of title insurance, settlement services and risk services for real estate transactions, and Docutech, a provider of document, eClose and fulfillment technology for the mortgage industry, signed an agreement for First American’s acquisition of Docutech.
January Jobs Report Beats Expectations
Total nonfarm payroll employment rose by 225,000 in January, beating economists’ expectations, the Bureau of Labor Statistics reported on Friday.
December Report Caps Solid Year of Jobs, Wage Growth
Total nonfarm payroll employment rose by 145,000 in December, slightly lower than previous months, the Bureau of Labor Statistics reported Friday.