Low Rates Could Mitigate Some COVID Damage

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Posted To: MND NewsWire

Black Knight has done an early analysis of the potential impacts of the COVID-19 pandemic on the housing market . In our summary of the first part of their paper we looked at the condition of the housing market in the early part of the year, before the full extent of what might be coming was evident. It was a market in which delinquencies were at near record lows, construction was picking up, home sales were strong, homeowners were sitting on high levels of equity, and lenders were in the midst of a refinance boom. Then as concerns and uncertainty over the virus began to emerge, so did unusual volatility in the secondary market and consequently in interest rates , to the point where the Federal Reserve stepped in with a round of quantitative easing. Black Knight then looked toward the probable…(read more)

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