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Calculated Risk: Fannie and Freddie: REO inventory declined in Q4, Down 57% Year-over-year

2/16/2021 09:42:00 AM Fannie and Freddie earlier reported results last week for Q4 2020. Here is some information on Real Estate Owned (REOs).  Note that COVID is impacting foreclosure activity, from Freddie: "We have also established a foreclosure and eviction moratorium for homeowners with Freddie Mac-owned single-family mortgages, which FHFA recently instructed us to extend until at least March 31, 2021." emphasis added Freddie Mac reported the number of REO declined to 1,766 at the end o...
Freddie Mac Fannie Mae Real Estate Owned Freddie Mac Owned Freddie Real Estate Owned Calculated Risk

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Calculated Risk: Fed Chair Powell: Corrected Unemployment Rate Close to 10% in January

Employment in January of this year was nearly 10 million below its February 2020 level, a greater shortfall than the worst of the Great Recessions aftermath. After rising to 14.8 percent in April of last year, the published unemployment rate has fallen relatively swiftly, reaching 6.3 percent in January. But published unemployment rates during COVID have dramatically understated the deterioration in the labor market. Most importantly, the pandemic has led to the largest 12-month decline in labo...
Bureau Of Labor Statistics From Fed Chair Powell Getting Back Strong Labor Market Excerpt Great Recession Labor Statistics

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