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Is it possible that home buyers are adjusting more quickly to this brave new virus-driven world than was hoped? Will Americans now do the whole home purchase shtick from their living room couch? A survey the National Association of Realtors® (NAR) conducted among its members this week found that one-quarter of them had facilitated a purchase contract where their customers had not physically seen the property . Those buyers had visited a median of only three homes, either virtually or in person, before signing a contract. NAR's 2019 Profile of Home Buyers and Sellers found buyers typically looked at nine homes before buying. NAR chief economist Lawrence Yun said, "Expect second quarter home sales activity to slow down with the broad observance of stay-at-home orders, but sales will pick
Housing News
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Is it possible that home buyers are adjusting more quickly to this brave new virus-driven world than was hoped? Will Americans now do the whole home purchase shtick from their living room couch? A survey the National Association of Realtors® (NAR... (read more)
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MBS Commentary
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Coronavirus has made for some of the biggest market movement and volatility in the history of financial markets. It's also resulted in a wide range of predictions about the future of the economy. There's good reason for this, to be sure.&... (read more)
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Housing News
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While the March residential construction report from the U.S Census Bureau is grim, one can find a small glimmer of optimism in the fact that, while housing starts fell off a cliff, there was much less damage done to permits . Perhaps this means buil... (read more)
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Mortgage Rate Watch
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Mortgage rates had a reasonably calm and logical day--not something we've been able to say very often recently. It was calm in the sense that today's average rates didn't fall too far from yesterday's and intraday movement wasn't too extreme. It was ... (read more)
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Rob Chrisman
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Unlike 2008, when, arguably, the lenders, banks, and investment banks, via lending & underwriting policies and lax securitization procedures, were the villains and scapegoats, this time around banks and lenders can help save people. We are not th... (read more)
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Housing News
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The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) have made arrangements to share information during the COVID-19 national emergency. CFPB is a big portal for and repository of consumer complaints about pro... (read more)
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