Instant Reaction: Jobs, August 7, 2020on August 7, 2020 at 12:44 pm
Jobs are coming back, with 1.8 million net new additions in July, bringing the total to 9.3 million over the past three months as the economy has steadily reopened.
Lowest Level of Layoffs Since the Pandemic Started; 1.2 Million New Unemployment Claimson August 7, 2020 at 12:03 pm
Layoffs fell to 1.2 million last week. This is a decrease of 249,000 from the previous week’s revised level while hiring is picking up. That’s the lowest level of layoffs since the pandemic started.
Foreign Buyer Purchases Declined to $74 B From April 2019 – March 2020on August 6, 2020 at 4:25 pm
Foreign buyers continued to pull back for the second year, purchasing $74 billion of U.S. existing homes from April 2019–March 2020, a 5% decrease from the prior 12-month period.
Instant Reaction: Interest Rates, August 6, 2020on August 6, 2020 at 2:25 pm
Interest rates dipped 11 basis points to 2.88% on a 30-year fixed-rate mortgage, continuing to hover at record-low levels. The rates may fall further over the next few weeks since the 10-year Treasury yields, off of which the government-backed mortgages are priced, retreated ever so slightly in past weeks.
Realtor® Survey Finds Annual Foreign Investment in U.S. Home Sales Declines 5%on August 6, 2020 at 1:17 pm
Between April 2019 and March 2020, foreign buyers purchased 154,000 existing homes in the U.S., down 16% from the prior year.