Today’s News Synopsis:
Several MLS’s adding “coming soon” listings. Mortgage rates decreased again with 30-year rates now at 3.33% and 15-year rates at 2.82%. Despite businesses being affected by the pandemic, online notaries are helping complete transactions.
In The News:
Freddie Mac – “Mortgage Rates Drop Again” (4-2-2020)
“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 3.33 percent.”
Redfin – “A New Slower, Lower Normal, or Just a Ledge on the Way Down?” (4-2-2020)
“Uncertainty reigns in the real estate market right now, just like it does in the rest of American life. It’s clear that the number of home sales is going to decline over the short term, with pending sales down 42% between March 23 and March 29 compared to the prior year.”
Realtor.com – “Americans Are Still Moving—With Hand Sanitizer, Gloves, and Thermometers” (4-2-2020)
“Next week, Daryl and Kathy Storment will be moving about 300 miles west from their home in Eastern Washington, a rural area known for rolling hills and big fields—toward the center of the country’s first outbreak of the new coronavirus.”
National Association of Realtors – “DocuSign” (4-2-2020)
“DocuSign stands with REALTORS® as they work to navigate this new reality. Through NAR’s relaunched Right Tools, Right Now initiative, DocuSign is offering exclusive savings off eSignature services enabling you to remotely send and sign contracts and agreements with your clients.”
Realtor Magazine – “Online Notaries Come to the Rescue on Transactions” (4-2-2020)
“While real estate pros adapt in light of a global pandemic, a digital notary is helping to complete remote closings to keep sales on track. Notarize, part of the National Association of REALTORS®’ 2017 tech accelerator Reach class, predicts that it will process at least $100 billion in transactions on its platform this year.”
Inman – “Coronavirus not slowing down NAR’s pocket listing policy” (4-2-2020)
“Several MLSs are adding a ‘Coming Soon’ status for the first time as part of the rollout, while others are instituting weighty fines immediately.”
HousingWire – “Rental market is already seeing effects of coronavirus” (4-2-2020)
“As more and more people across the country are under stay-at-home orders, the rental market has quickly seen the effects.”
“As job losses climb into the millions due to the coronavirus pandemic, laid-off workers increasingly can’t make the rent. That’s also bad news for small landlords.”
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.
Zillow can help you find a house. Home prices increased 4% year-over-year in February according to CoreLogic. In order to help boost homeownership, Bank of America started giving borrowers $10,000 to close a loan.
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