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Mark Hemingway

Mortgage Market Update for January 5th

Friday, January 8, 2021 - Article by: Mark Hemingway - Security Financial Services, LLC - Message

CoreLogic reports that home prices nationwide, including distressed sales, rose 8.2% from November 2019 to November 2020, up 1.1% in November 2020 compared with October 2020. Looking ahead the numbers aren't as robust. CoreLogic sees a 2.5% annual gain from November 2020 to November 2021 and a monthly gain of 0.2% from November 2020 to December 2021. The housing sector continues to shine and is shaping up for a solid year in 2021. Frank Martell, President and CEO of CoreLogic said, "Vaccine distributions and stimulus actions should revitalize economic activity and keep home purchase demand and home price growth strong."

Stricter COVID lock downs across Europe and the Georgia Senate runoffs are just two of this week's headline risk events that are impacting the markets today. British PM Boris Johnson has imposed new lock down measures due to a new variant of COVID that seems to be more easily transmissible. The new strain is said to be in 4 U.S. states and 33 counties. This uncertainty is applying selling pressure on stocks. The Georgia Senate runoff races are underway with the markets hoping for a balance of power once the votes are counted.

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