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Realtors don't expect the 2020 "spring market" is going to happen, but they are optimistic there will be a post-pandemic rebound driven by delayed demand. The National Association of Realtors® (NAR) found, through an Economic Pulse Flash Survey, that 59 percent of its members feel buyers are merely delaying home purchases for a few months while a similar number (57 percent) said sellers are doing the same with listings. NAR Chief Economist Lawrence Yun said, "Home sales will decline this spring season because of unique economic and social consequences resulting from the coronavirus outbreak, but much of the activity looks to reappear later in the year. Home prices will remain stable because of a pandemic-induced reduction in inventory coupled with less immediate concerns over foreclosures
Housing News
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Realtors don't expect the 2020 "spring market" is going to happen, but they are optimistic there will be a post-pandemic rebound driven by delayed demand. The National Association of Realtors® (NAR) found, through an Economic Pulse Flash Survey, ... (read more)
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Mortgage Rate Watch
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Just as the mortgage industry was coming to terms with unprecedented market volatility due to coronavirus, the details of the CARES Act (the coronavirus rescue/stimulus/relief bill) presented their own set of challenges. For some lenders and borrower... (read more)
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Rob Chrisman
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As the market looks at this morning’s Federal Reserve huge aid package announcement, while in captivity/quarantivity, testing yourself is important . Someone told me this week, “Hey, we’re trying to stay alive, not sober and skinny!... (read more)
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Housing News
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American's attitudes regarding buying and selling homes and about their own financial outlook made an abrupt U-turn last month and Fannie Mae's Home Purchase Sentiment Index (HPSI) wiped out more than three years of gains. The index, a distillation o... (read more)
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Housing News
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The negative effects of the COVID-19 epidemic appear to have set in last week as mortgage applications, which had managed to increase even after much of the nation's business shut down, tumbled. The Mortgage Bankers Association (MBA) said its Market ... (read more)
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MBS Commentary
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Here's this week's Fed MBS Purchase Schedule.
The daily amount is down from a recent peak of $50 bln to $25 bln . So does that mean the Fed is only going to buy half as much MBS as it was buying 2 weeks ago? And if so, why aren't pri... (read more)
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