The coronavirus pandemic continues to wreak havoc on global and domestic economies, yet housing has thus far managed an impressive V-shaped recovery. Housing’s strong rebound has been driven by several factors that existed before the coronavirus outbreak but have continued or even gained strength amid the pandemic. Mortgage rates are even lower ...
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With a July unemployment rate of 10.2 percent and roughly 30 million Americans claiming unemployment benefits, it’s clear that the domestic economy continues to feel the pain inflicted by the coronavirus pandemic. Yet the housing industry, at least for now, continues its impressive V-shaped rebound. Weekly purchase applications have surpassed ...
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Following the rapid contraction in U.S. economic activity as a result of the outbreak of COVID-19, the unemployment rate spiked to 14.4 percent in April and remained elevated in May (13.0 percent), setting the mark for the two highest recorded rates in the post-World War II era. Despite the federal foreclosure moratorium, there were fears that up ...
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First American Chief Economist Mark Fleming was interviewed on Yahoo! Finance earlier this month, discussing the impact of COVID-19 on the housing market and mortgage rates dropping below 3 percent for the first time ever.
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As the coronavirus pandemic continues to wreak havoc on global and domestic economies, housing has thus far proven resilient, managing a V-shaped recovery from the low point reached in April. The strong rebound is largely a result of two dynamics that existed before the pandemic and have continued or even gained strength in the last few months.
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The domestic and global economy continue to feel the pain inflicted by the coronavirus pandemic. Yet the housing industry, at least for now, is bucking the trend. Weekly purchase applications have surpassed their levels from one year ago for eight straight weeks, as potential buyers respond to record low mortgage rates. The market potential for ...
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