Search Results for: Jim Perskie

April Pending Home Sales: Largest Drop This Century

April Pending Home Sales: Largest Drop This Century

By Jim Perskie Stay-at-home orders, curtailed real estate activities and an economic shutdown sent pending home sales into the dumps in April, according to a new report released Thursday by the National Association of Realtors. The Pending Home Sales Index dropped 21.8 percent from March – and was 33.8 percent lower than April 2019, the…

Airbnb, Vrbo Booming In Beach Communities

Airbnb, Vrbo Booming In Beach Communities

By Jim Perskie The short-term rental market is bouncing back quickly, with travelers taking advantage of lockdowns ending just as the summer tourism season starts across the country, according to a report released Wednesday by AirDNA. There was a 202 percent increase in rental bookings on Airbnb and Vrbo in the United States between April…

Share Of Mortgages In Forbearance Leveling Off

Share Of Mortgages In Forbearance Leveling Off

By Jim Perskie 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. The latest Mortgage Bankers Association report released Tuesday found that 8.36…

Home Purchase Mortgage Applications Rise Again

Home Purchase Mortgage Applications Rise Again

By Jim Perskie Applications for mortgages for home purchases increased for the fifth straight week as the housing market continues to make tentative steps forward amid the coronavirus pandemic, the Mortgage Bankers Association announced Wednesday. MBA’s Weekly Mortgage Applications Survey showed that the Purchase Index for the week ending May 15 increased 6 percent over…

GSE Borrowers In Forbearance Can Buy, Refi – Eventually

GSE Borrowers In Forbearance Can Buy, Refi – Eventually

By Jim Perskie Borrowers are eligible to refinance or buy a new home three months after their forbearance ends and they have made three straight payments under their repayment plan, according to new temporary guidance issued Tuesday by Fannie Mae and Freddie Mac. The guidance, announced by the Federal Housing Finance Agency, clarifies how lenders should…

Housing Starts Wayyyyyy Down In April

Housing Starts Wayyyyyy Down In April

By Jim Perskie Another day, another housing report battered by the economic shutdown driven by the coronavirus pandemic. Residential housing starts in the United States in April dropped 30.2 percent from March and were 29.7 percent below April 19, according to a report released Tuesday by the Census Bureau and the Department of Housing and Urban…

Credit Tightens Further As Rates At Record Lows

Credit Tightens Further As Rates At Record Lows

By Jim Perskie Economic difficulties caused by the coronavirus are making it harder for borrowers to obtain mortgage credit, even as interest rates have plunged to historic lows. The Mortgage Bankers Association announced Thursday that the Mortgage Credit Availability Index (MCAI) dropped 12.2 percent in April, reflecting a tightening of the lending standards in the…

Freddie CEO: Greatest Housing Challenge In Decade
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Freddie CEO: Greatest Housing Challenge In Decade

By Jim Perskie Freddie Mac CEO David Brickman said Thursday the housing market is “facing its greatest challenge in more than a decade” and that the impact of the coronavirus will be felt over the next year, at least. Brickman expected home sales – and perhaps home prices – to fall significantly in the second…

Existing Home Sales Fall In March

Existing Home Sales Fall In March

By Jim Perskie Existing home sales fell in March amid the coronavirus outbreak, though overall sales were up slightly from a year ago, the National Association of Realtors announced Tuesday. “Unfortunately, we knew home sales would wane in March due to the coronavirus outbreak,” NAR chief economist Lawrence Yun said. “More temporary interruptions to home…

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