Economy

Mortgage rates slipped this week as the coronavirus keeps affecting the overall U.S. economy, according to Freddie Mac.

New-home construction declined in March from the previous month by the most since 1984 as the pandemic started to take a bigger toll on the housing market and broader economy.

From the crossroads of America down to the bayou, here's a look at 12 housing markets where it's the most financially prudent to buy a home rather than rent, according to First American.

In the Philadelphia metropolitan area, new listings are down almost 43% from March 1 to April 5, when the number of new listings typically grows by roughly 52%, according to Zillow.

The Borrower Protection Program enables the two agencies to exchange information about loss mitigation efforts and consumer complaints regarding specific servicers.

The volume of COVID-19 forbearance requests has risen rapidly as operational processing has improved and hold times have contracted, according to the Mortgage Bankers Association.

Purchase originations will recover somewhat in the third and fourth quarters as home sales pick up.

Lenders that split their sales of loans and servicing between two different investors may be facing yet another challenge due to the coronavirus outbreak.

At issue is whether the U.S. should step in now to save nonbank mortgage servicers to head off damage to the housing market.

FHFA head Mark Calabria and his FSOC counterparts need to sit down with the Treasury and fashion an emergency capital plan for the GSEs.