Economic activity stalled in early July. Even with many businesses reopening, unemployment claims remained high through September. Total jobless claims were about 26 million in the second week of September. More
The effect of COVID-19 has been felt around the world and across the United States. As states have begun easing restrictions, the economy is rebounding but continues to be constrained. More
As large swathes of the U.S. economy shut down to battle the COVID-19 pandemic, the housing market faces its greatest challenge in over a decade. More
Sustained economic growth, low interest rates, and a robust labor market helped the U.S. housing market regain its footing in 2019. More
Investors were increasingly optimistic of a possible trade deal between the United States and China in October which relieved some of the downward pressure on Treasury yields. More
September was the most volatile month for mortgage rates since the beginning of 2018 with an average week to week change of 11 basis points for the 30-year fixed rate mortgage. More
Opinions, estimates, forecasts, and other views contained in this document are those of Freddie Mac's Economic & Housing Research group, do not necessarily represent the views of Freddie Mac or its management, and should not be construed as indicating Freddie Mac's business prospects or expected results. Although the Economic & Housing Research group attempts to provide reliable, useful information, it does not guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Information from this document may be used with proper attribution. Alteration of this document or its content is strictly prohibited. ©2020 by Freddie Mac.
Insight | NOV 17, 2020
Bob and Jane purchased their home three years ago. Now, in the midst of the pandemic, Jane is furloughed from her job as a purchasing manager, and Bob is working fewer hours as a mechanic. They are wondering how long their savings will last. Postponing mortgage payments would make their reserves hold out a lot longer.
Read MoreMortgage Forbearance Rates during the COVID-19 Crisis
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