COVID19 Archives – Page 5 of 7

06 Aug 2020

What Is The Impact Of COVID-19 On Home Value?

It is no secret that the COVID-19 pandemic has had an impact on everyone; however, there are a few impacts that are being overlooked. In addition to the public health crisis and the tanking of the stock market, there are also impacts of the virus on people’s home values. Some of these impacts have been positive while others have been negative. Regardless, it is important for everyone to understand how these impacts might impact someone’s home value, particularly for those who are looking to buy or sell a home in the future. The Dropping Rates Of Mortgages Because of the…

What’s Ahead For Mortgage Rates This Week – July 27, 2020

Financial ReportsCOVID19, Finance, Mortgage Tips, Unemployment

Last week’s economic reporting included readings on sales of new and previously owned homes. State and federal data on new and continuing jobless claims were released along with Freddie Mac’s weekly report on mortgage rates. Sales of New and Existing Homes Rise in June Sales of new homes rose at their highest rate in 13 years according to the Commerce Department. New homes sold at a seasonally-adjusted annual pace of 776,000 sales, which exceeded the expected reading of 710.000 new single-family homes sold and May’s reading of 682,000 new homes sold. Analysts said that increased interest in relocating to suburban…

What’s Ahead For Mortgage Rates This Week – July 6, 2020

Financial ReportsCOVID19, Financial Report, Unemployment

Last week’s scheduled economic reports included readings on pending home sales, Case-Shiller Home Price Indices, and labor sector reports on private and public-sector job growth. Data on construction spending was also released. Weekly readings on mortgage rates and jobless claims were also released. Pending Home Sales Jump in May Sales of homes for which purchase contracts were signed rose by 44.30 percent in May and was the highest month-to-month increase recorded since the report’s inception in 2001..Pending home sales are sales with signed purchase contracts but aren’t closed. Lawrence Yun, chief economist for the National Association of Realtors® said, “This…