National Update On Housing and Jobs
Applications for mortgages to purchase homes gained for the 6th consecutive week to a level that is 6.7% higher than a year ago
April did mark the absolute bottom of per capita real estate activity since the Great Depression with 3 quarters of buyer traffic disappearing, but that was immediately followed by at an unprecedented turnaround with showings up to where they were back in February
For the 4th consecutive week, the 30 year fixed-rate mortgage has been below 3.3%
75% of job loses are temporary layoffs & furloughs. There are about 3 new hires for every 10 layoffs due to Covid 19
Weekly jobless claims released on May 21st totaled nearly 2.4 million. However continuing claims - workers already unemployed and receiving ongoing benefits have leveled off.