Zillow Market Pulse: July 10, 2020

The number of mortgages in forbearance fell. The price of homebuilding materials has risen sharply. And the Federal Reserve’s lending program for small businesses is struggling to gain momentum.

    • According to Black Knight, 435,000 fewer loans were receiving assistance last week than the week prior.
    • The decrease was driven in large part by the expiration of some deals struck in early April.
    • The price of lumber futures has risen more than 85% since early April.
    • Improved builder confidence, as well as increased interest in home improvement projects, is likely fueling a surge in demand.
    • Strict conditions for businesses and heightened
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