For 3.3 Million Americans, Coronavirus Economy Just Got Real

The Labor Department on Thursday said unemployment claims skyrocketed to 3.3 million—the first real indicator of just how potentially devastating the economic effects of the coronavirus can be at the personal and national levels.

CREF Highlights

Commercial and multifamily developments and activities from MBA relevant to your business and our industry.

Fed Cuts Interest Rates to Zero; Announces $700 Billion in Stimulus

The Federal Reserve yesterday pre-empted its own regularly scheduled policy meeting this week, announcing an extraordinary full percentage point cut to the federal funds rate and sweeping purchases of government bonds and agency mortgage-backed securities.

The Week Ahead

Welcome to our new dystopian reality: life as we know it has been suspended indefinitely.

MBA Doubles 2020 Refinance Forecast

The Mortgage Bankers Association this week issued its revised Mortgage Finance Forecast and Economic Forecast, in which MBA doubled its previous 2020 refinance mortgage originations projections.