Monthly Economic Commentary and Indicators
for Mortgage Industry Third Party Origination Professionals
The Mortgage Economic Review summarizes recent Key Economic Indicators, Data, and Events that are important to Mortgage and Real Estate Professionals.
Paradox. 2020 was a year full of contradictions. The end of the year finally arrived, with billions of people very happy to see 2020 come to a close. While most of the Economy was struggling, the Mortgage Business had its best year ever – closing around $4.4 Trillion in Home Loans. Interest Rates set and hovered at all-time lows, while Stock Markets set record highs. Stimulus Packages pumped Trillions of dollars into the Economy to support businesses and unemployed workers. Housing Prices rocketed higher while the cost of rent softened. Many Millennial renters abandoned their urban apartment lifestyles to buy homes in the suburbs. Covid brought the Economy to a screeching halt in the 2nd quarter, but it came roaring back in the 3rd quarter. Household Net Worth rose $3.8 Trillion, while millions of Borrowers are still in mortgage forbearance. The closer you look at the data, the more you see paradoxes. Next month we’ll get a better look at the year-end data, but for now, let’s enjoy the newborn 2021 with guarded optimism and hope for a Happy and Healthy New Year for all.
Read the full version of this month’s “Economic Commentary and Indicators” and “Economic Calendar” using the link below.