At the beginning of 2020, low-interest rates and strong job growth contributed to a steady climb in consumer-purchasing power, which led to an uptick in both refinance and purchase demand. But as the COVID-19 pandemic rapidly spread in March, many of the nation’s consumers were either forced to work remotely
With the number of states, counties and cities issuing stay-at-home orders increasing every day, the real estate industry is left to quickly interpret whether its functions are considered essential services. With many moving parts and jobs in the real estate process, appraisers, notaries and homebuilders, along with many other roles,
The concept and perceived benefit of iBuyers rests in the little “i” in front of the word. It stands for “instant,” because when a homeowner chooses to sell their home through an iBuyer, they simply fill out a form, get a bid and can sell within a short period of
As the housing industry adapts to navigate COVID-19, there is one sector that is mostly carrying on with business as usual. Even as states are locking down and ordering residents to stay at home, homebuilders are continuing to work. That’s because every state except Pennsylvania and Washington has declared homebuilders
In a rare television interview, Federal Reserve Chairman Jerome Powell told Today show co-anchor Savannah Guthrie the U.S. economy can’t reopen until the coronavirus pandemic is under control. “The virus is going to set the timeline,” a grim-looking Powell said on the NBC morning show on Thursday. Powell’s comments contradict
The Consumer Financial Protection Bureau is relaxing some of its requirements for lenders as coronavirus continues to spread. Temporarily, the CFPB will no longer require certain lenders to report quarterly information under the Home Mortgage Disclosure Act. The CFPB said it is working to provide flexibility to enable financial institutions
Real estate technology company Clear Capital has launched a new homeowner-enabled appraisal inspection tool, which adheres with encouraged social distancing protocols in light of the coronavirus. OwnerInsight is a tool that offers homeowners high-quality information and images of the interior and exterior of their homes to lenders, appraisers, and appraisal
When Goldman Sachs recently predicted that 2.25 million people would file for unemployment last week, it made headlines nationwide (including here on HousingWire). That figure would have obliterated the previous weekly record that has stood since 1982. But the actual figure is far, far worse than Goldman Sachs predicted. According
The U.S. GDP grew at an annual rate of 2.1% in the fourth quarter of 2019, according to the third estimate from the Bureau of Economic Analysis, showing the strength of the economy before the COVID-19 pandemic hit the U.S. The estimate in Thursday’s report is based on more complete source
The average U.S. fixed rate for a 30-year mortgage fell to 3.5% this week, representing the first decline in three weeks, according to Freddie Mac. The rate is 15 basis points below last week’s level of 3.65% and is more than half a percentage point lower than the 4.06% of the same week
With the recent public health orders limiting crowd sizes and asking people to stay home, Lopez said real estate agents with homes for sale are being …
The question becomes who shoulders the burden in a real estate transaction as state and local governments across the country face “shelter at home” …
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Zillow News Truth Delta: Opinion & Editorial