Consumers Less Optimistic as Pandemic, Economy Take Toll
While Americans’ view of present conditions changed little, a slowing economy and growing pandemic fears seem to be giving them a bit less hope for early 2021.
FHFA Conforming Loan Limits Rise Almost $38K in 2021
Fannie Mae and Freddie Mac will accept loans up to $548,250 next year – an increase from $510,400 in 2020. According to the seasonally adjusted FHFA Home Price Index, third-quarter housing prices rose 7.42% year-to-year, so loan limits will do the same.
U.S. Borders with Canada, Mexico Remain Closed Through Dec. 21
Don’t get hopes up for cross-border holiday travel. With the pandemic apparently escalating, the borders aren’t expected to open anytime soon.
Case-Shiller: Home Price Increases Picking Up Speed
Prices rose 6.6% year-to-year in Sept., the biggest increase since April 2018, thanks to still-strong buyer demand and record-low interest rates.
Inability to Pay Rent and Loans Now Affecting Banks
Small community banks dependent on commercial RE and small biz loans feel added stress from COVID-19; 2 banks failed in Oct., including 1 in Fort Walton Beach.
The Latest Must-Have Buyer Demand? Friendly Neighbors
The pandemic forced a lot of people to appreciate the benefits of a good neighborhood, and more are penciling that in as a shopping list must-have.