The coronavirus has caused a sea change in Americans’ attitudes toward home. With millions now working from home—many permanently—they are rethinking everything: how to repurpose rooms; how many cars they need to own; and especially, where they want to live, not where they need to live.
The COVID pandemic is wreaking havoc on commercial and residential real estate, especially in central business districts, said Wells Fargo Securities, Charlotte, N.C.
With interest rates nearing 3% for all loans, many millennials took advantage of the opportunity to refinance their mortgages in September, according to Ellie Mae, Pleasanton, Calif.
ADP, Roseland, N.J., said private-sector employment increased by 365,000 jobs from September to October.
Black Knight, Jacksonville, Fla., said its monthly Mortgage Monitor report shows rate lock activity continues to remain strong across the board, which could lead to new quarterly and yearly records for origination volume.