Coronavirus

Mortgage interest rates dropped this week to the lowest level on record, fueling an already hot spring housing market and triggering a refinance boom in the Twin Cities.

Nonbank mortgage employment fell in January, but could subsequently surge as lenders seek to capture business while rates are low, the job outlook is favorable, and the coronavirus is contained.

Even as concern over the rapid spread of the novel coronavirus mounts, the most recent data on area home sales from the Northwest Multiple Listing Service shows the market for Seattle-area residential realty remains hot.

U.S. lawmakers are pushing regulators to provide room for banks to work out loans with businesses and consumers who may be affected by the coronavirus.

Capacity constraints among mortgage lenders are leading to wider spreads between mortgages and the 10-year Treasury yield even after it remained below 1% for an extended period this week.

Endorsements of Home Equity Conversion Mortgages fell nearly 14% on a consecutive-month basis in February after a January surge, but stayed relatively strong compared to average levels last year.

Mortgage rates hit their lowest point since Freddie Mac began tracking this data in 1971, as the 10-year Treasury yield fell below 1% after the Federal Open Market Committee's surprise short-term rate cut.

A drop in interest rates in response to the coronavirus outbreak is adding urgency to a hiring spree across the mortgage industry.

New Zealand's property market is heating up again and a fresh round of interest-rate cuts in response to the coronavirus could give it another shot in the arm.

Above-average snowfall and rising concerns about the coronavirus didn't put a damper on local home sales last month, according to the Denver Metro Association of Realtors.

Mortgage application volume increased 15.1% from one week earlier, and with interest rates still falling, even higher refinance demand is probable in the short term, according to the Mortgage Bankers Association.

The Fed’s decision to cut its benchmark interest rate amid growing coronavirus concerns is bound to have an impact on banks, but just how broad and how deep remains to be seen.

Investors' purchases of 10-year Treasurys after the Fed's 50 basis point short-term rate cut drove the yield below 1% for a period of time.

While home price appreciation has lost some momentum, tight inventory and low rates could drive housing values further upward this spring if the coronavirus remains contained, according to CoreLogic.

Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.

Canada's housing market is poised for a hot spring — with lower mortgage rates likely to offset any major drag from the coronavirus.

The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008.

The Federal Open Market Committee cut the fed funds rate target 50 basis points to a range between 1% and 1.25%, it announced Tuesday.

Fears stemming from the coronavirus have resulted in lower mortgage rates and more business for now, but if the situation deteriorates further, consumers could decide to put off buying a home.

Policymakers may not wait until their mid-month meeting and could act with other central banks.