Archive for September 2020
Mortgage applications fall for the third week in a row
But the number of refinancing index is still 40% up over last year September 2, 2020, 7:00 am By Alex Roha Mortgage applications fell 2% last week, according to a report from the Mortgage Bankers Association, marking the third week of declines. The refinance index also fell 3% last week, however remained 40% higher than the same week one…
Read MoreIntroducing Fannie Mae COVID-19 Payment Deferral
July 2020 Four facts about the new repayment option Millions of Americans are contacting their mortgage servicers to set up a mortgage forbearance plan as a result of the health and economic impacts of the coronavirus. However, they are starting to realize it’s increasingly important to have a clear way to repay the amount they…
Read MoreMultifamily Starts Soared In Q2 As Homebuilder Confidence Hit Record High
 August 19, 2020 With much of life in the U.S. now focused primarily in residential neighborhoods, it stands to reason that the business of homes is booming. New housing starts in July rose 22.6% over June, reaching an annual pace of 1.5 million units, the U.S. Census Bureau said in its monthly residential construction report…
Read MoreSoCal Capital Markets Update: Low Interest Rates Thaw Out A Frozen Market Los Angeles Capital Markets
August 21, 2020 In the first months of the year, the coronavirus rattled capital markets, throwing real estate investors into uncertainty. Through the spring, borrowers who were hoping to transact in Southern California chose to wait on the sidelines to see how the pandemic would play out. But recent trends suggest a return of capital…
Read MoreFannie Mae and Freddie Mac will keep buying loans in forbearance through Sept. 30
Previous deadline was August 31 August 26, 2020, 5:49 pm By Sarah Wheeler The Federal Housing Finance Agency announced on Wednesday that Fannie Mae and Freddie Mac would continue to buy qualified loans in forbearance until Sept. 30, extending the previous deadline of Aug. 31. The GSEs will also extend other loan flexibilities initiated during the pandemic, including accepting alternative appraisals on purchase and rate…
Read MoreLandlords Could Lose As Much As $21.5B In Rental Payments As Eviction Wave Begins
Close to half of all U.S. apartment renters may be evicted in the coming months, now that eviction moratoriums are fading in most places, as the commercial real estate market adjusts to fewer unemployment benefits to pay the bills and political dynamics change nationwide. As a measure of the pain that landlords will suffer, especially those…
Read MoreThe Price of a Virus Lockdown: Economic ‘Free Fall’ in California
California’s strengths — as a hub for commerce, tourism and education in the Pacific Rim — have become liabilities in the pandemic. By Tim Arango and Thomas Fuller Published May 26, 2020, Updated May 28, 2020 LOS ANGELES — Locked down in their homes, the four former California governors clicked into a Zoom call and one after another described how…
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