Good morning! Today is Wednesday, May 27. The average American has gained an extra five pounds during the coronavirus shutdown. Hair salons and barbershops in many states will reopen this week. And the NHL announced a plan to return straight into a 24-team playoff.
And in mortgage and housing news …
FORBEARANCE REPORT: The number of mortgages in forbearance in the United States increased slightly in the latest report, but the rate of increase continues to level off as fewer homeowners are opting to push pause on their loan payments during the coronavirus pandemic.
HOUSING PRICES: A new government report shows that housing prices have climbed every quarter since September 2011.
LISTINGS UP: New for-sale listings were up 12.5 percent month over month as of the seven days ending May 10 after a steep drop in April, according to Zillow’s April Real Estate Market Report.
CORONA HOUSING CRISIS: The COVID-19 housing crisis is coming. Here are 7 ways to stop it.
DISTRESSED REAL ESTATE: Investment firms are sitting on “a staggering amount of dry powder” as they wait for big property discounts brought on by the pandemic.
SIGHT UNSEEN: About a quarter of Realtors said they’ve sold a home in the past week to buyers who only saw the home virtually.
APARTMENT DEVELOPERS: The coronavirus pandemic has led developers to refinance when they might ordinarily cash out.
AFFORDABLE HOUSING: Chicago’s Emergency Relief for Affordable Multifamily Properties Program offers grants or no-interest loans of up to $75,000 to keep multifamily properties that include affordable units from defaulting on mortgages and going into foreclosure.
MORTGAGE PROCESS: How the coronavirus pandemic is changing the mortgage process.
LANDLORD BAILOUT: Real-estate companies are cashing in on the government’s emergency-spending program, despite rules meant to bar landlords and other property owners from the funds.