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The housing market ‘bottom is pretty much now’: Zillow economist

For housing, the future looks bright.

Early metrics suggest that the housing market has turned a corner from mid-April lows, and Zillow predicts a steady recovery for U.S. home sales.

“We do expect sales to fall anywhere from 50% to 60% from those [pre-pandemic] heights. And that bottom is pretty much now,” Skylar Olsen, senior principal economist at Zillow, told Yahoo Finance.

What’s Next? Guidance to Help Reopen Your Business

While the COVID-19 health crisis persists, the country is starting to shift from survival mode to thinking about what’s next. As states and cities begin to lift their stay-at-home orders, questions swirl about when and how will people return to work. The new normal may be a half-speed economy with masks, wipes, testing, temporary quarantines, significant process changes and regional variations.

CFPB Relaxes TRID Rule in Wake of COVID-19

The Consumer Financial Protection Bureau (CFPB) on April 29 took steps to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic.

To help, the bureau issued an interpretive rule clarifying that consumers can exercise their rights to modify or waive certain required waiting periods under the TILA-RESPA Integrated Disclosure Rule (TRID) and Regulation Z rescission rules. The rule goes into effect when published in the Federal Register.