April 3 edition
- HUD FHA rates at 2.80 for 223F
- New construction at 3.50 (40 year fixed)
- 10 year US treasury at 59 bp
- HUD requiring reporting of impacts of C-19
- HUD and agency desks open, but remotely
- CARES Act for 30 days forbearance
- 30 days plus two 30 day extensions
- Defaults will impact credit ratings
- Fannie at 3.50
- Freddie at 3.40
- Unemployment at 4.4%
PRO take aways
- Will liquidity problem turn into a credit problem?
- How will borrowers and lenders deal with the new normal?