Overall mortgage delinquencies rose to their highest level in more than five years in May. The COVID-19 pandemic and recession have made it hard for homeowners to meet monthly mortgage payments.
Despite the pandemic, home sales have boomed in the past several months. Only San Francisco saw prices droop in May.
With limited job prospects and with many businesses closed or at reduced capacity, millions of American renters may be evicted from where they live.
Record-low mortgage rates have led to a jump in applications for refinancing. But lenders are becoming more cautious.
Mortgage loan delinquencies soared in April after posting monthly declines for more than two years. Foreclosures remained subdued, but that may change once the federally mandated forbearance period ends.
Existing home sales plunged in May, according to the National Association of Realtors. But does this represent a bottom in the market?
New home sales surged in May to an annualized rate of 676,000. The month-over-month growth was largely due to a substantial downward revision in the estimates for April.
Demand for housing has increased to levels higher than were present before the COVID-19 pandemic hit the United States.
Redfin announced on Monday that almost half of all offers on home purchases faced competition in May as optimism about the state of the economy began to rise.
Government backing of Fannie Mae and Freddie Mac looks crucial as the pandemic impacts mortgage delinquencies.
Fannie Mae is about to begin a bidding process to select a financial advisor to assist in developing and implementing a plan for recapitalizing and responsibly ending its conservatorship.
The U.S. Department of Commerce reported that U.S. housing starts in April came at the slowest pace for new construction since February of 2015.
Credit Suisse has reinstated Front Yard Residential with an Outperform rating and a new $11 price target. Shares of this real estate investment trust rallied Monday morning.
The economic hit from the coronavirus pandemic is showing up in mortgage delinquencies and that’s bad for Fannie Mae.
Fannie Mae and Freddie Mac have been approved to purchase some single-family home loans in forbearance. This may help maintain liquidity in the nation's mortgage market.
