Employment data

The number of loans going into coronavirus-related forbearance decreased for the tenth straight week, but to a lesser degree than in previous weeks, according to the Mortgage Bankers Association.

With infections resurging, consumer confidence in the housing market hit a snag in July, but sellers are feeling better about their prospects, according to Fannie Mae.

The rising number of positions appears to reflect an ongoing need to adjust capacity to address rate-driven demand.

While the new employment numbers bode well for housing and loan performance in the short term, concerns abound regarding how the unemployment rate and furloughs could affect prospects for the business later.

For potential higher-end homebuyers, the pandemic was merely a pause, but for those seeking affordable properties — often people of color — it created yet another barrier.

After bottoming out at a 10-year low in April, consumer sentiment for home buying rebounded in May, according to Fannie Mae.

Nonbank mortgage hiring inched down when overall employment plunged in April. The subsequent recovery in overall jobs suggests the housing-finance industry is still bearing up well despite coronavirus-related strain.

Hiring by nonbank mortgage and brokers held up unusually well through the early days of the coronavirus outbreak in March, but April's all-time high in unemployment suggests that's unlikely to last.

Nonbank mortgage employment estimates show payrolls in February leveled off after an unusually strong winter, but anecdotal reports of selective hiring persisted through March amid a broader coronavirus-related drop in U.S. jobs.

Bank employment of mortgage loan officers rose slightly last year, but that was before the coronavirus spread and resulted in social distancing measures that raised questions about broader employment prospects.