Real Estate

Getty Since the CARES Act instituted mortgage forbearance for borrowers of government-secured home loans, misinformation and malpractices have abounded. To correct some of that, today the Federal Housing Finance Agency, which oversees mortgage buyers Freddie Mac and Fannie Mae, released a statement reiterating that borrowers in forbearance are not obliged to repay the missed monthly
0 Comments
TOPLINE Despite the coronavirus pandemic causing unprecedented financial disruptions and a major shift in the lives of American consumers, a slowdown in new cases has made Wall Street more optimistic about eventually reopening the economy— and here are 19 stocks poised to thrive in the post-coronavirus world once widespread quarantine orders are lifted, according to
0 Comments
Spencer Platt | Getty Images The coronavirus economic shock has left Americans downbeat about stock market investing, even after the major market rebound off March lows, according to a new survey from Gallup. Only 21% of Americans think stocks or mutual funds are the best long-term investment — down six points from 2019 — which
0 Comments
HECMs plus Annuities have synergistic benefits for retirees © Can Stock Photo / gpointstudio HUD created this ingenious and multi-faceted reverse mortgage program, but its well-intentioned effort to protect it against misuse has been a disaster. The disaster has stemmed from HUD’s requirement that the HECM be a stand-alone product, as opposed to being part
0 Comments
Millions of homeowners are now in forbearance, essentially pausing their monthly mortgage payments … [+] due to COVID-19. Getty More than 3.4 million American mortgage borrowers are now in forbearance—essentially hitting the pause button on their monthly payments for the foreseeable future. According to the latest data from financial data firm Black Knight, that’s up
0 Comments
Prospective home buyers arrive with a realtor to a house for sale in Dunlap, Illinois. Daniel Acker | Bloomberg | Getty Images Sales of existing homes fell a wider than expected 8.5% in March compared with February to an annualized pace of 5.27 million units, according to the National Association of Realtors’ seasonally adjusted index.
0 Comments
Flooding resulting from Hurricane Harvey in Houston, Texas. Harriet Taylor | CNBC Nothing can compare to the crushing economic tsunami created by the coronavirus pandemic, but in the housing market specifically, there are some parallels to natural disasters. Lessons learned from those devastating events are helping the industry cope now. In 2017, after Hurricane Harvey
0 Comments
urbazon | Getty Images More than 2.9 million homeowners have taken advantage of a program designed to provide relief to holders of government-backed mortgages, part of the coronavirus CARES Act relief package. This represents 5.5% of all active mortgages, according to Black Knight, a mortgage data and analytics company that is now tracking the growing
0 Comments
Homebuilders are hurting. U.S. home construction in March endured its worst monthly decline since 1984 as housing starts fell by over 22% from the previous month, the Commerce Department said Thursday. Homebuilder confidence was also pummeled, with one key indicator seeing the biggest drop in its 35-year history. Home construction stocks have reflected the weakness. The iShares
0 Comments
Marianne McKenna, founding partner of Toronto-based KPMB Architects, believes the post-paendmic … [+] world will see architects “rethink everything.” KPMB Architects Many deep thinkers have argued the Novel Coronavirus has changed the U.S. and the world forever. Among them are leading architects, two of whom recently weighed in with views on how their industry will
0 Comments
Austan Goolsbee, professor at the University of Chicago Booth School and former chairman of the White House’s Council of Economic Advisors, Michael Strain, director of economic policy studies at the American Enterprise Institute, and David Bailin, chief investment officer at Citi Private Bank, joins “Squawk Box” to discuss the latest weekly jobless claims amid the
0 Comments
In the face of the global pandemic, millions of Americans may not be able to pay their bills this month. To that end, a growing number of financial institutions, including Ally Financial, Bank of America, Citi and Fifth Third Bank, have taken steps to offer some assistance for customers affected by Covid-19. The coronavirus aid relief bill
0 Comments
The coronavirus outbreak is already causing a spike in commercial mortgage delinquencies in the hotel and retail sectors, a new analysis finds.  The data speaks to a bigger fear haunting the commercial real estate industry: That Covid-19 could spark an even bigger mortgage crisis than the one in 2008, which devastated American homeowners.  Commercial mortgage-backed
0 Comments
Retail and housing. Those two consumer-driven sectors could be key to determining the market’s next move, Miller Tabak chief market strategist Matt Maley told CNBC’s “Trading Nation” on Thursday. “Of course, both are very, very important to the economy,” Maley said, referencing the charts of the SPDR S&P Retail ETF (XRT) and the iShares U.S.
0 Comments