Today’s News Synopsis:

Coronavirus and Loneliness.  Mortgage rates decreased this week with 30-year rates now at 3.5% and 15-year rates at 2.92%.  The market is being slowed by stay-at-home orders.

In The News:

Freddie Mac – “Mortgage Rates Drop” (3-26-2020)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.50 percent.”

Zillow – “Two Months Without Pay Pushes Food and Retail Workers to Spend 40% of Their Annual Income On Rent” (3-26-2020)

“A new Zillow analysis measures how proposed relief programs could soften the financial impact of workplaces closing or quarantines during the coronavirus pandemic.”

Redfin – “Stay-at-Home Orders Slow the Market Down Significantly” (3-26-2020)

“Since our last update on March 18, Redfin’s home-buying demand has slowed notably, with 27% fewer customers requesting to see homes over the past seven days than the same time last year.”

Curbed – “Coronavirus and loneliness: How to reach out to neighbors who need it” (3-26-2020)

“In an era of social distancing and sheltering in place, Americans are seeing less of each other, at least in person, than ever before.”

Freddie Mac – “Avoiding Fraud: Call Spoofing” (3-26-2020)

“Unfortunately, during times of hardship families are often targeted by fraud artists who attempt to take advantage of those seeking assistance.”

Mortgage Professional America – “Coronavirus (COVID-19): Small Business Guidance & Loan Resources” (3-26-2020)

“Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.”