There Are A Few Things Your Lender Wants You To Know

Today’s News Synopsis:

Getting a mortgage during the pandemic?  Mortgage rates decreased again to another all-time low with 30-year rates now at 3.15% and 15-year rates at 2.62%.  Despite an increase in foreclosure moratoriums, the amount of zombie properties holds steady.

In The News:


Freddie Mac “Mortgage Rates Hit Another All-Time Low” (5-28-2020)

“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 3.15 percent.” “6 Things Your Mortgage Lender Wants You To Know About Getting a Home Loan During COVID-19” (5-28-2020)

“Getting a mortgage, paying your mortgage, refinancing your mortgage: These are all major undertakings, but during a pandemic, all of it becomes more complicated. Sometimes a lot more complicated.”

MarketWatch “Home-price gains continued in March as the coronavirus pandemic swept the U.S., Case-Shiller index shows” (5-28-2020)

“The pace of home-price appreciation again ramped up in March, even as the coronavirus pandemic hit the U.S., according to a major price barometer.”

Mortgage Professional America “Even amid pandemic, brokers snap up market share” (5-28-2020)

“While mortgage originations as a whole sank in the first quarter, brokers continued to bring in land-office business – making the broker channel the only channel to see market-share growth.”

ATTOM Data Solutions “Vacant Zombie Property Rate In U.S. Holds Steady Amid Foreclosure Moratorium” (5-28-2020)

“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 second-quarter 2020 Vacant Property and Zombie Foreclosure Report showing that 1.5 million (1,507,815) residential properties in the United States are vacant, representing 1.5 percent of all homes.”

Zillow “Office Space Tops the Wishlist for Potential Home Shoppers” (5-28-2020)

“Most Americans want to work from home after the pandemic, and many would consider a move to more comfortably do so.”

USA Today “Video tours? Suburbs vs cities? Buying, selling a home to look different after COVID-19” (5-28-2020)

“Jessica Chamorro’s dream of owning her first home was upended in March after she was furloughed from her catering job at a hotel chain in Tampa, Florida.”


California Real Estate Investor Events

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.


Looking Back:

Uber drivers aren’t just taking you where you wanna go.  Home prices in 20 cities in the U.S. saw their slowest growth for a year straight.  One area helping give real estate a boost was the tech hubs.


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