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In its early April survey of builders for its Housing Market Index the National Association of Home Builders (NAHB) added questions about the impact of the pandemic on construction. While many states have limited "non-essential" business activity, the Department of Homeland Security's guidance has given state and local governments the option of classifying residential construction as essential and many have done so. NAHB asked builders whether construction was allowed in the areas where they build and 78 percent responded in the affirmative. But, even where construction is permissible, effects of COVID-19 may inhibit it or at least slow it down and as NAHB pointed out earlier, at least half of homebuilders have put projects on hold. One potential problem is the need for construction inspections
Housing News
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In its early April survey of builders for its Housing Market Index the National Association of Home Builders (NAHB) added questions about the impact of the pandemic on construction. While many states have limited "non-essential" business activity, th... (read more)
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Rob Chrisman
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While in captivity it is important to amuse oneself . And here’s a tender song – the video is only 30 seconds. By the way, the residential industry is not the only one that is seeing forbearance requests. In the commercial sector, in 30 d... (read more)
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MBS Commentary
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While there may be a good amount of drama and suspense when it comes to watching coronavirus take its toll on the economy, there's no mystery. This isn't like past recessions where a realization gradually sets in. We may not know exactl... (read more)
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Housing News
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House price growth continued to accelerate through February on the Federal Housing Finance Agency's (FHFA's) Housing Price Index with the U.S. index posting a monthly gain of 0.7 percent in February. The January increase was originally reported as 0.... (read more)
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Housing News
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Purchase application volume was up slightly last week, the first gain since early March. Refinancing and overall volume, however, were flat. The Mortgage Bankers Association said its Market Composite Index, a measure of volume, decreased 0.3 percent ... (read more)
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Mortgage Rate Watch
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While the industry has come to terms with recent challenges in terms of day-to-day volatility, mortgage rates remain higher than they otherwise would be based on financial markets. In other words there are gold standard benchmarks that serve as the f... (read more)
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