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Citing the need to keep the mortgage market “working for current and future homeowners during these challenging times,” Fannie Mae and Freddie Mac will soon begin buying certain mortgages that are in forbearance. Under the GSEs’ current policies, Fannie and Freddie do not buy loans in forbearance. But given the unprecedented rise in forbearance due […more]
Photo by John Saeyong Ra via Flickr cc Macy’s spends about $6 million each July 4th on its annual fireworks display, but this year, the company furloughed most of its 125,000 employees amid the coronavirus crisis. When it comes to local finances, the city is projecting a $7.4 billion loss in tax revenue for fiscal years 2020-2021. But […more]
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In a recent survey by realtor.com, people thinking about selling their homes indicated they’re generally willing to allow their agent and some potential buyers inside if done under the right conditions. They’re less comfortable, however, hosting an open house. This is understandable, given the health concerns associated with social contact these days. The question is, if you […more]
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Photo by Jane Kratochvil for Bryant Park Corp. A giant heart was mowed into Bryant Park’s lawn this week as a message of support for the city’s healthcare personnel and essential workers. The park, which recently transformed its Winter Village ice skating rink into its famed lawn, will reopen its green space to the public […more]
Prices for single-family homes rose 5.7% in February from a year earlier, reflecting the condition of the housing market before the COVID-19 pandemic hit the U.S. economy. The index measuring the purchases of houses using loans backed by Fannie Mae and Freddie Mac rose at a faster pace than the 5.3% annual gain seen a […more]