WASHINGTON -- U.S. long-term mortgage rates hovered near all-time lows for the third straight week amid fresh signs of severe damage to the economy and the housing market from the shutdown spurred by theMortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year home loan slipped to 3.31% this week from 3.33% last week. A year ago the rate stood at 4.17%.
Meanwhile, the government reported Thursday that U.S. home-building activity collapsed in March as the virus spread, with housing starts tumbling an alarming 22.3% from a month earlier. The data pointed up the bleak outlook for the housing market as the economic disruption brought job losses for more than 20 million Americans in the past four weeks, as another government report showed Thursday.
No new condo for me
BS propaganda. No bank as if today offer refinance. Paying 4.2% and was looking to refinance two weeks ago, both Wells Fargo and JP Morgan Chase said they don't offer damn thing.
I doubt house shopping is on many people's to do list.
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The rebound will be spectacular! Just wait as animal instincts take over and greed overwhelms fear!
Wages will go up. Rents will go down. People will buy less.
What is this just
i still cant buy a home
the knock on effects to rental and commercial real estate are about 6 to 9 months from showing up where they're going to be stuck for years