Eye On Housing
For the week ending September 25, 2020, the Mortgage Bankers Association’s latest Weekly Application Survey showed a decrease in application activity, both in purchasing and refinancing, as its Market Composite Index decreased by 4.8% from the previous week on a seasonally adjusted basis. Its constituent indexes, the Purchasing and Refinancing indexes, decreased from the previous week by 1.9% and 6.5%,… Read More ›
The Federal Reserve’s latest release of the Senior Loan Officer Opinion Survey shows banks’ lending practices and households and businesses’ demand for various classes of loans as of the second quarter of 2020. As evidenced in the survey, in the wake of the COVID-19-wrought pandemic, widespread economic hardship caused many banks to tighten their standards across all credit classes of… Read More ›
Despite the Mortgage Bankers Association’s (MBA) tracked 30-year, fixed-rate mortgage rate moving further downward, by one basis point from the previous week to a new record low of 3.29%, mortgage activity slowed, per the latest Weekly Application Survey. The Market Composite Index, representing purchasing and refinancing activities, decreased by 1.8% on a seasonally adjusted basis from one week earlier, with… Read More ›
The Mortgage Bankers Association’s (MBA) latest Weekly Application shows a mild slowdown in purchase and refinancing activity from the previous week, on a seasonally adjusted basis. The Market Composite Index decreased by 8.7% and its constituent Purchasing and Refinancing indices decreased by 3.0% and 11.7%, respectively. The MBA’s 30-year fixed-rate mortgage rate remained unchanged from the previous week at the… Read More ›
The most recent American Community Survey (ACS) data revealed that the worrying trend of rising shares of young adults living with parents, relatives or sharing house with roommates continued in 2017. Only 40% of young adults ages 25 to 34 lead their own household in 2017. In comparison, close to 46% of adults in this age group were household heads… Read More ›
New NAHB Economics research shows that the share of young adults ages 18 to 34 living with parents or parents-in-law increased sharply in the late 2000s. According to the most recent American Community Survey (ACS), one in three young adults ages 18 to 34, or more than 24 million, lived in homes of their parents or parents-in-law in 2012. By… Read More ›
Earlier this month, the Census Bureau published a report examining “household sharing,” which is the situation in which people join or combine households. While the report does not examine the causes of household sharing, it is widely accepted that the housing crisis and the economic impacts of the Great Recession have led many individuals to share housing in order to… Read More ›
NAHB has estimated that as a result of current economic conditions, there are approximately 2.1 million households that were expected to form in the last few years but did not. These “potential” households typically represent people doubling and tripling up on roommates and young adults living with parents. Unlocking this pent-up demand, a process that will be facilitated by an… Read More ›