Today’s News Synopsis:
Real Estate agents seek support from Congress. Mortgage rates increased this week with 30-year rates now at 3.65% and 15-year rates at 3.06%. In the wake of the coronavirus, Fannie, Freddie, and FHA have suspended all foreclosures and evictions.
In The News:
National Association of Realtors – “NAR Survey Finds Nearly Half of Realtors Say Home Buyer Interest Has Decreased Due to the Coronavirus” (3-19-2020)
“Nearly half of Realtors® – 48% – said home buyer interest has decreased due to the coronavirus outbreak, according to a new survey from the National Association of Realtors.”
Freddie Mac – “Mortgage Rates Rise” (3-19-2020)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.65 percent.”
Redfin – “The Coronavirus’s Impact on Housing Is Now Nearly Nationwide” (3-19-2020)
“On Thursday, the housing market took a turn for the worse. A week ago, we reported that nationwide homebuyer demand had weakened meaningfully, but from high levels. We measure homebuying demand by looking at the annual growth rate in people going on their first home tours with a Redfin agent.”
Realtor Magazine – “Fannie, Freddie, FHA Suspend All Foreclosures and Evictions” (3-19-2020)
“Foreclosures and evictions for mortgages insured by the Federal Housing Administration, Fannie Mae, and Freddie Mac will be suspended for several weeks in response to the coronavirus outbreak.”
Curbed – “As coronavirus slows real estate market, agents seek support from Congress” (3-19-2020)
“Social distancing means ‘when they can’t show a property, they can’t earn a living.'”
ALERT: Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With Inland Gateway Association of Realtors on Thursday, April 9 (ONLINE ONLY).
ALERT: Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Pasadena FIBI on Thursday, April 16 (ONLINE ONLY).
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
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