New Home Sales 21% higher than Estimated

New home sales strongest in homes priced below $300,000 from CNBC.

Borrowers in forbearance can defer all missed payments until the end of their loan...

A new payment deferral option for borrowers in forbearance

(Fannie Mae and Freddie Mac announced) 

• The new program is for borrowers who took forbearance due to a coronavirus-related issue, and will not have to repay their missed payments until the borrower sells their house, refinances their current mortgage, or their mortgage matures.
• Borrower starts making their mortgage payments again when they’re able, and missed payments are deferred to the end of their loan.
• The CARES Act stipulates that a borrower whose mortgage is backed by either the government or the GSEs who is experiencing a COVID-19-related hardship can request and must be granted forbearance of up to 180 days, which then may be extended for another 180 days. Aka shift as many as 12 months of mortgage payments to the end of their loan (including escrow advances... without accruing any additional interest or late fees).
• "...the maturity date, remaining term, interest rate and payment schedule of the borrower’s mortgage remains the same as it was before" (Freddie Mac).
• Servicers are to begin offering this option to borrowers on July 1, 2020 (According to the GSEs and FHFA)

Full Article:

https://www.housingwire.com/articles/fannie-mae-freddie-mac-borrowers-in-forbearance-can-defer-all-missed-payments-until-the-end-of-their-loan/

Number Of Zombie Homes Drop During The Coronavirus Ban on Foreclosures.

Nationwide:

• Foreclosures are down 9%
• Zombie Homes/Foreclosures are down 12%.
• However, this seems to be a primarily due to the current federal restrictions.
• "It is very possible that there will be a large increase in zombies and foreclosures after the CARES Act moratorium expires on June 30."
• "When the foreclosure ban is lifted, we should start to see the real impact of the pandemic on homeowners..."

Full Article:

https://www.nationalmortgagenews.com/news/amid-coronavirus-ban-on-foreclosures-number-of-zombie-homes-drops

April Real Estate Market Statistics (Missouri)

https://www.youtube.com/user/JordaanSieben

U.S. mortgage applications rise for sixth straight week

• “U.S. applications for home mortgages jumped last week, in a sixth straight weekly increase, suggesting the housing market could lead the economy’s recovery from the novel coronavirus crisis even as high unemployment is expected to linger.”

• “The sustained gains in mortgage applications suggest a jump in first-time buyers of both new and previously owned homes in April was probably not a fluke. Homebuilder sentiment also improved in May.”

Full Article:

https://www.reuters.com/article/us-usa-economy-housing/u-s-mortgage-applications-rise-for-sixth-straight-week-idUSKBN2331IX

Home purchase applications have risen 54% since early April

Home purchase applications have risen 54% since early April from CNBC.

Understanding Your Credit Report

Here is a simple friendly FYI video from Freddie Mac's Youtube page:


https://www.youtube.com/user/JordaanSieben
CLICK HERE to see what type of Mortgage you might qualify for!

Florida Housing Market Update: April 2020

MARKET UPDATES: CLICK PLAYLIST

Existing-Home Sales Housing Snapshot April 2020, NAR.

Article:
https://www.nar.realtor/infographics/existing-home-sales-housing-snapshot

~ 22% of builders cut home prices in April 2020

Nationally:
~ "22% of Builders Cut Home Prices in April 2020 in order to bolster sales and/or limit cancellations."

Regionally:
South (26)
Midwest (23%)
West (13%)
Northeast (12%)

Full Article: http://eyeonhousing.org/2020/05/22-of-builders-reduced-home-prices-in-april-2020/

1.07 Million Refinances Secured in Q1 2020

Full Article:
https://themreport.com/daily-dose/05-21-2020/1-07m-refinances-secured-in-q1-2020

Price For Residential Building Materials Fell 4.1% in April

Full Article HERE:

https://themreport.com/daily-dose/05-14-2020/residential-building-materials-decline-in-april

Builder confidence Rose 7 points In the newly-built single-family home Market

(This follows the Previous Decline from from the COVID-19 pandemic)

Full Article HERE:  

https://themreport.com/daily-dose/05-18-2020/homebuilder-confidence-on-the-rise

1st quarter Single-Family home permits issued Increase 18.9%

"Over the first three months of 2020 – and prior to the impact of the coronavirus, the total number of
single-family permits issued year-to-date (YTD) nationwide reached 220,416.
(On a year-over-year basis),
this is an 18.9% increase over the March 2019 level of 185,336."

FULL ARTICLE & INFO: HERE

http://eyeonhousing.org/2020/05/single-family-permits-were-solid-in-march/

How Much Will Stimulus Checks Help Homeowners?

https://themreport.com/daily-dose/04-15-2020/how-far-will-stimulus-checks-go-for-homeowners

DS5: Challenges in Property Preservation

https://dsnews.com/daily-dose/05-14-2020/ds5-challenges-in-property-preservation

Pace Of Loans Entering Forbearance Slows

"Over the past week, about 26,000 loans entered forbearance each day. This is 85% fewer loans per day than recorded in early April."

https://dsnews.com/daily-dose/05-15-2020/pace-of-loans-entering-forbearance-slows

Quit freaking about your Lender pulling credit!

https://www.youtube.com/user/JordaanSieben

NAR Flash Survey: Economic Pulse

NAR Flash Survey: Economic Pulse: NAR conducted a flash survey of members on the impact of the coronavirus on their market, including mortgage rates, buyer interest, and seller behavior.

"...77% of Potential Home Sellers are Preparing to Sell..." (National Association of Realtors)

https://www.nar.realtor/newsroom/realtors-report-that-77-of-potential-home-sellers-are-preparing-to-sell-following-end-of-stay-at