The median home sale price increased 14 percent year-over-year to $320,025, according to a report from Redfin.
Few will be reluctant to say goodbye to 2020. With vaccines rolling out, the days of the deadly pandemic that bludgeoned the nation’s economy seem to be numbered. Good riddance! But the soaring home prices that became a hallmark of the COVID-19 crisis may be here to stay.
The Trump administration may privatize Fannie Mae and Freddie Mac — and it could disrupt the nation’s housing-finance system
Fannie and Freddie’s regulator is reportedly considering an attempt to end government control over the mortgage giants before Joe Biden enters the White House.
If there’s one part of the economy that is doing well, it’s the mortgage industry. Record low mortgage rates are driving so many people to refinance that the housing market is on track to see $2 trillion in refinances in 2020, second only to 2003, according to the Mortgage Bankers Association.
But beginning December 1, refinancing will likely cost homeowners more. Fannie Mae and Freddie Mac will charge a new — and hotly contested — “adverse market fee” on refinanced mortgages.
About 1.6 million (1,556,592) residential properties in the United States, representing 1.6 percent of all homes, are vacant, according to ATTOM Data Solutions’ fourth-quarter 2020 Vacant Property and Zombie Foreclosure Report.
Due to the COVID-19 pandemic and social distancing requirements, organizations pivoted to widescale remote work and online collaboration. Video conferencing emerged as a tool for business continuity and sustained social connection. However, these tools opened the door to increased cyberattacks.