Phoenix Real Estate Market 2020: Housing Prices & Forecast

Even after suffering from the pandemic, the Phoenix housing market 2020 still comes out on top. As we saw Arizona real estate market thriving & becoming sizzling hot in the past couple of years, even the rise in mortgage rates was believed not to affect it. We've been seeing real estate appreciation rates increasing year-over-year in the entire metro area. The Greater Phoenix area was also predicted to be among the top housing markets in the year 2020. It is now clear that the pandemic could not change that prediction. It could only pause sales, which in turn created a huge pent up demand.

Read more... https://www.noradarealestate.com/blog/phoenix-real-estate-market/

Historical Data Shows Housing Market Will Boom After The 2020 Crisis, And So Will Bitcoin

Historical data from the late 1990s show a financial crisis is often followed with a steep increase in housing prices. If real estate grows in a similar manner as the 2000s, safe haven assets like gold and potentially Bitcoin may follow.

Read more... https://www.forbes.com/sites/youngjoseph/2020/05/24/historical-data-shows-housing-market-will-boom-after-the-2020-crisis-and-so-will-bitcoin/

FHFA Announces Refinance and Home Purchase Eligibility for Borrowers in Forbearance

Washington, D.C. – Today, to support borrowers and mortgage servicers, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises)  have issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.

Read more... https://www.fhfa.gov/mobile/Pages/public-affairs-detail.aspx?PageName=FHFA-Announces-Refinance-and-Home-Purchase-Eligibility-for-Borrowers-in-Forbearance.aspx

FHFA Issues Guidance on Refinances, Purchases While in Forbearance

The Federal Housing Financing Agency (FHFA) announced Tuesday that Fannie Mae and Freddie Mac have issued temporary guidance regarding the eligibility of borrowers in forbearance, or recently ended their forbearance, looking to refinance and purchase a home. 

Read more... https://dsnews.com/daily-dose/05-19-2020/fhfa-issues-guidance-on-refinances-purchases-while-in-forbearance

Housing markets in most big cities struggle because of coronavirus shutdowns, but these markets buck the trend

Coronavirus has run roughshod over most of the nation's big-city real estate markets for more than six weeks now, paralyzing agents, halting showings and causing double-digit drops in listings and new inventory as frightened sellers withdraw their properties from consideration.

Read more... https://www.usatoday.com/story/money/2020/05/07/cities-buck-coronavirus-real-estate-slump/3049239001/

Metro Phoenix rents climb 3 times as fast as US average. Will eviction aid be enough?

Metro Phoenix rents climbed nearly three times as fast as the average U.S. increase during the past 12 months, despite a slight reprieve for tenants last month.

Read more... https://www.azcentral.com/story/money/real-estate/catherine-reagor/2020/05/10/coronavirus-pandemic-metro-phoenix-area-apartments-rent-increase-us-average/5179104002/

Statement Regarding Publication of SOFR Averages and a SOFR Index - FEDERAL RESERVE BANK of NEW YORK

Beginning on March 2, 2020, the Federal Reserve Bank of New York (New York Fed), as administrator of the Secured Overnight Financing Rate (SOFR) and in cooperation with the Treasury Department's Office of Financial Research (OFR), will publish 30-, 90-, and 180-day SOFR Averages as well as a SOFR Index, in order to support a successful transition away from U.S. dollar (USD) LIBOR.

Read more... https://www.newyorkfed.org/markets/opolicy/operating_policy_200212#.XqhpDzXX1eQ.email