Housing isn't likely to cool this winter! {Market Report} November 06 — American Family Funding - Home Loans | Mortgage

Housing isn’t likely to cool this winter! {Market Report} November 06

November 6, 2020 abryant

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	Manufacturing activity accelerated more than expected in October, with new orders jumping to their highest level in 17 years. A pandemic related spending shift is driving the surge.
	According to Senate Majority Leader Mitch McConnell, passing a new stimulus package before the end of the year remains a top priority when the Senate reconvenes.
	The Fed left policy rates unchanged once again at this week’s meeting and pledged to continue implementing policy to help the economy recover.


	Coronavirus-related forbearance rates dropped to a 7-month low in October. Data shows that most homeowners who take forbearance actually continue making payments.
	Construction spending was up 0.3% in September over August and was 1.5% higher year over year. Residential construction was strong, with single family home projects up 5.7%.
	This winter’s real estate market is shaping up to be unlike any before. NAR’s Lawrence Yun predicts the season “will be one of the best winter sales years ever.”

“Progress always involves risk. You can’t steal 2nd base and keep your foot on 1st.”
Fred Wilcox

Next week’s potential market moving reports are:

Monday, November 9th – No Reports
Tuesday, November 10th – Job Openings
Wednesday, November 11th – Veterans’ Day – No Reports
Thursday, November 12th – First Time Jobless Claims, Consumer Price Index
Friday, November 13th – Producer Price Index

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