The Federal Housing Finance Agency said yesterday it would extend its moratorium for Fannie Mae- and Freddie Mac-based single-family mortgages until at least June 30.
Nearly three million Americans applied for initial unemployment claims last week—the lowest level in eight weeks but still highly elevated in the wake of the coronavirus pandemic.
Pressured by rising e-commerce even before the COVID-19 crisis and now burdened with wide-scale store closures, retail rents could drop 11 percent in 2020, said Moody’s Analytics, New York.
The Federal Housing Finance Agency yesterday said Fannie Mae and Freddie Mac will employ a new payment deferral option allowing borrowers in COVID-19 related forbearance, who are able to return to making their normal monthly mortgage payment, the ability to repay their missed payments at the time the home is sold, refinanced, or at maturity.
Mortgage Bankers Association Builder Applications Survey data for April show mortgage applications for new home purchases decreased by 12 percent compared from a year ago and by 25 percent from March.