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As COVID-19 progresses, the economic expansion is starting to unravel, bringing down home sales this year, according to new projections released Wednesday.
The Fannie Mae Economic and Strategic Research Group forecast 14.7 percent less sales this year, along with 9.3 percent fewer housing starts, as a result of the virus, its economic impact and social turmoil. Based on their projections, existing-home sales should sink to 4.54 million this year, down from 5.34 milli...
1. Rates - Yes they are still historically low, however, many lending institutions are either
I recommend you be quick about providing your lender with that they need so your loan officer can get you thru the system and locked. Please note some turn times out there are over 120 days long from application to close, so choose wisely with or without a lock allowed.
2. Rates- LOOKOUT- Some lending institutions are charging for those lower rates. They should be making you aware of it, however, we have seen some don't.
Spending a day without leaving the house may have sounded like fun three months ago, but now that it's our new normal, it's a different story. By now, you and your family might be feeling a bit jumpy at home all day. If that's the case, check out the information below — you'll find five ways to liven up your time social distancing with games, crafts, and cooking. These outside-of-the-box ideas will keep you and your family entertained at home, and even lead to a few positive memories.
As our lives, our businesses, and the world we live in change day by day, we're all left wondering how long this will last. How long will we feel the effects of the coronavirus? How deep will the impact go? The human toll may forever change families, but the economic impact will rebound with a cycle of downturn followed by economic expansion like we've seen play out in the U.S. economy many times over.
Here's a look at what leading experts and current research indicate about the economic impact we'll likely see as a result of the coronavirus. It starts with a forecast of U.S. Gross Domestic Product (GDP).
According to Investopedia:
"Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods...
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