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.
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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.
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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.
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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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AEI’s latest housing market indicator shows that the purchase rate lock volume for the week of May 25 was up 19% from a year ago, with analysis saying the worst of the “near-term effects” of COVID-19 could be behind housing.
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Realtor.com’s May Monthly Housing Trends report forecasts that the U.S. housing market has “likely” reached its low point, with signs of recovery and even strengthening emerging in April and May. Growth is expected to continue over the summer.
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A study by LendingTree found 53% of homebuyers are more likely to buy a home over the next year due to the outbreak of COVID-19.
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CoreLogic reports home prices rose 5.4% annually in April 2020, exceeding the Home Price Index (HPI) report’s 3.6% gain from April 2019.
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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.
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The House Financial Services Committee held a virtual roundtable to discuss the impact COVID-19 has had on the U.S. Housing Market.
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