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Mortgage Roundup (4/21/21) – New Listings, Predictions & Credit

Posted on by TMN Editor
Good morning! Today is Tuesday, April 21. President Trump says he will suspend immigration into the U.S. to protect jobs amid coronavirus fallout. Georgia will reopen gyms, hair salons, and bowling alleys this week. North Korea’s leader, Kim Jong Un, is reportedly in grave danger after surgery.  And in mortgage and housing news … NEW LISTINGS: The number of new houses going on the market is plummeting as the coronavirus pandemic wears on, according to an analysis released by Redfin. FORBEARANCE SPIKE: The number of loans in forbearance continues to rise as borrowers cope with economic hardship caused by the coronavirus pandemic. CALABRIA WRONG: Federal Housing Finance Agency Director Mark Calabria said on April 1 he expected 300,000 Fannie Mae and Freddie Mac loans – or 1…

Number Of Houses Being Listed Tumbles

Posted on by TMN Editor
The number of new houses going on the market is plummeting as the coronavirus pandemic wears on, according to an analysis released Monday by Redfin. The analysis found that there were fewer homes for sale in March than at any time since January 2012, when Redfin started tracking the data. New listings in March dropped 10.8 percent compared to March 2019. “Real estate activities nearly ground to a halt in some parts of the country by the end of March, disrupted by shelter in place laws,” Redfin lead economist Taylor Marr said. “Right now, sellers need to decide if they’ll list their home for sale among all the economic uncertainty.”  Redfin also found: By the last week of March, new…