Origination

The California Association of Realtors told its members Friday to stop all face-to-face sales activities including showings, listing appointments, open houses and property inspections due to coronavirus concerns.

Additional mortgage-backed securities purchases by the Federal Reserve Bank of New York will address private investor skittishness about the asset class, but it will not necessarily lower rates.

For Central Texas' long-sizzling housing market, 2020 is the year the unexpected catastrophic global event — the typical caveat in the region's otherwise ongoing rosy market forecasts — has actually come calling.

Figures released Friday show that the central Ohio housing market remained robust through February, but evidence mounted this week that the coronavirus outbreak is crushing that market along with the rest of the economy.

Consumer sentiment about home price growth during a potential recession flipped because of the coronavirus scare. Now, just one-third expect an increase in value, according to Redfin.

Sales of previously owned homes surged in February to the fastest pace in 13 years, highlighting a flurry of activity in the housing market before the economic repercussions of the coronavirus.

Mortgage industry hiring and new job appointments for the week ending March 20.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

The fallout from the coronavirus could turn a situation in the U.S. where many homes were overvalued into a scenario where prices drop, a Fitch Ratings report said.

It has all the trappings of a routine mortgage refinance closing. The mortgage broker, the lawyer and the homeowner, all signing off on the paperwork that will cut the interest rate on a home.