U.S. long-term mortgage rates rose this week as the new stimulus package will become law sometime tomorrow. Freddie Mac reported today that the average rate on the 30-year fixed rate home loan ticked up to 3.05% from 3.02% last week.
On the aggregate, the commercial real estate market has been hit hard by measures to control the COVID-19 pandemic. However, on closer look, some sectors and geographic markets have fared better than others.
As expected, the annual inflation rate continued to rise in February. Over the last 12 months, the inflation rate rose 1.7%, compared to 1.4% in the last two months.
Homeowners who purchased a single-family existing-home 10 years ago at the median sales price of $170,567 with a 10% down payment loan and who sold the home at the median sales price of $315,700 in 2020 Q4 would have built up a home equity gain of $176,123.
Unadjusted initial claims rose by 31,519 to 748,078 last week, and continued claims, which measure the number of people receiving checks for regular unemployment benefits, dropped by 22,355 to nearly 4.8 million.
The job market strengthened in February with 379,000 net new job additions. More jobs are very likely, due to the near certain passage of the $1.9 trillion stimulus package and from two million vaccinations per day.
The fertility rate declined in 2019 by 1% overall, which may not seem like a sizeable change until recognizing the rate is at all-time recorded low for the last 100 years.
U.S. long-term mortgage rates rose this week but remain near historic lows, as the economy is recovering with more Americans getting vaccinated against the coronavirus.
The new January 2021 NAR SentriLock Home Showings Report indicates that there was an increase in nationwide foot traffic on a month-over-month basis.
In January 2021, properties were typically on the market for 21 days, first-time buyers accounted for 33% of sales, and cash sales made up 19% of sales.
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