Today’s News Synopsis:
Which sector of the real estate industry is already doing business again, creating new features allowing people to sell their homes? Mortgage rates went up a little this week with 30-year rates now at 3.26% and 15-year rates at 2.73%. 77% of potential homeowners place to sell one the stay-at-home orders are lifted.
In The News:
Freddie Mac – “Mortgage Rates Ticked Up Slightly” (5-7-2020)
“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 3.26 percent.”
Realtor.com – “What Is a No-Fee Mortgage?” (5-7-2020)
“When you apply for a mortgage or refinance an existing mortgage, you want to secure the lowest interest rate possible.”
ATTOM Data Solutions – “U.S. Homeowners Remain Four Times As Likely To Be Equity-Rich Than Seriously Underwater” (5-7-2020)
“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its first-quarter 2020 U.S. Home Equity & Underwater Report, which shows that 14.5 million residential properties in the United States were considered equity-rich, meaning the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.”
National Association of Realtors – “Realtors® Report That 77% of Potential Home Sellers are Preparing to Sell Following End of Stay-At-Home Orders” (5-7-2020)
“More than 3 in 4 potential sellers – 77% – are preparing to sell their homes following the end of stay-at-home orders, with half completing do-it-yourself home improvement projects, according to a new survey from the National Association of Realtors®.”
Mortgage Bankers Association – “Commercial/Multifamily Borrowing Declines 2 Percent in the First Quarter of 2020” (5-7-2020)
“Commercial and multifamily mortgage loan originations decreased 2 percent in the first quarter of 2020 compared to the same period last year, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.”
MarketWatch – “One important sector of the real estate industry is back in business” (5-7-2020)
“‘iBuyers’ are rolling out new features for people looking to sell their homes quickly.”
“COVID-19 hit the home-selling market during the usually robust spring season. Data from Realtor.com shows a big drop in sales and new listings. The outlook for home sales is uncertain and very reliant on shape of the post-COVID-19 recovery.”
“Coronavirus has run roughshod over most of the nation’s big-city real estate markets for more than six weeks now, paralyzing agents, halting showings and causing double-digit drops in listings and new inventory as frightened sellers withdraw their properties from consideration.”
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
Bruce and Aaron Norris will be presenting Keep-Sell-Create in Sacramento on Saturday, June 20.
The Norris Group presents its award-winning black-tie event I Survived Real Estate 2020 on Friday, September 18.
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