IBuyers, that new label for real estate agencies that buy homes from sellers rather than just listing them, are back in the hunt. Redfin announced late last week that its RedfinNow subsidiary was about to resume operations, joining Opendoor and Offerpad which have already reopened after COVID-19-driven shutdowns. Zillow has said it would gradually relaunch its Zillow Offers division in upcoming weeks. But Redfin CEO Glenn Kelman made a more startling statement as well. In an interview with Jacob Passy published in MarketWatch , he declared that vacation markets are "toast," and AirBnb owners are rushing to unload their properties. They are going too be in tough shape, he said. "There's a whole economy that was built around the liquidity there that Airbnb provided. You could get pretty deep

May 18, 2020 Download our Mobile App: Download our Mobile App: Housing News Redfin CEO Says Vacation Market is "Toast" IBuyers, that new label for real estate agencies that buy homes from sellers rather than just listing them, are back in the hunt. Redfin announced late last week that its RedfinNow subsidiary was about to resume operations, joining Opendoor and Offer... (read more) MBS Commentary MBS Live Day Ahead: Holiday-Shortened Week and Another Chance to Confirm Range Bond markets will close early this Friday and will remain fully closed next Monday for the Memorial Day holiday.  3.5-day weekends can often see a shift in trading patterns as investors account for an extra uncertainty due to an extra day and a ... (read more) Housing News Signs of Recovery? Builder Confidence Regains Footing in May Nearly all financial indicators took a hit last month as unemployment measures shot higher, businesses shut down, and consumers and their families self-quarantined. Probably none of those measures suffered a bigger bloodbath than the Housing Market I... (read more) Rob Chrisman Broker, CRM, VA IRRRL Products; Premium Pricing Blues; Forbearance and Agency News “All of our dogs think we quit our jobs to spend more time with them while all of our cats think we got fired for being the loser they always knew we were.” And when you combine dogs and Zoom meetings, here is what you get . I’m jus... (read more) Mortgage Rate Watch Lowest Rates Ever! (Until Next Week?) As of yesterday, we knew mortgage rates were already in line with their lowest levels ever . It wouldn't have taken much to set the record today and indeed that's exactly what happened. Thus we find ourselves in a familiar situation where rates have ... (read more) Housing News Fannie Says Q2 Will be Tough, but Housing, Healthcare Should Bolster Recovery Fannie Mae's Economic and Strategic Research (ESR) group says it expects the U.S. gross domestic product (GDP) to decline by 35 percent (annualized) in the current quarter. The loss of 4.8 percent in the first quarter, the largest decrease in six yea... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.64 -0.20 Price / Yield Change MBS UMBS 5.5 99.64 -0.20 UMBS 6.0 101.43 -0.13 GNMA 5.5 99.86 -0.11 GNMA 6.0 101.34 -0.06 Pricing as of: 7/6 7:19PM EST 10 Year US Treasury 4.3467 +0.0669 Price / Yield Change US Treasury 2 YR Treasury 3.883 +0.095 5 YR Treasury 3.937 +0.070 7 YR Treasury 4.125 +0.068 10 YR Treasury 4.347 +0.067 30 YR Treasury 4.863 +0.055 Pricing as of: 7/6 7:19PM EST Latest Video Powell: Fed committed to using full range of tools Kevin O'Leary says he's bullish because the Fed will overcompensate Former Fed vice chair Alan Blinder on public debt and the market surge May NAHB housing market index stronger than expected Around the Web Reuters More than 8% of U.S. mortgages now in forbearance: MBA weekly survey Reuters New cases? Deaths? U.S. states' reopening plans are all over the map CNBC Powell is correct that the Fed is not out of ammunition 'by a long shot' Reuters S&P 500 hits 10-week high on vaccine hopes and stimulus promise Reuters U.S. coronavirus cases top 1.5 million, infections rise in some southern states Redfin Homebuyer Demand Outpaced Supply Mid-Pandemic, Leading to Lower Sales and Preventing Price Declines CNBC New York City rents likely to go lower due to coronavirus crisis, says real estate appraiser Calculated Risk Blog CAR on California April Housing: Sales down 30% YoY, Listing down 25% YoY Calculated Risk Blog NAHB: Builder Confidence Increased to 37 in May Reuters U.S. House passes $3 trillion coronavirus aid bill opposed by Trump Calculated Risk Blog Six High Frequency Indicators for the Eventual Recovery Reuters Futures jump on promising data for COVID-19 vaccine NAR - Realtor.com Are We in a Recessionor a Depression? How Each Would Affect Housing

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