Updates: This Week in Mortgage and Real Estate

Filed under: Market Comentary

What a week! It feels like every week goes by and we have a whole new set of circumstances that we couldn’t have anticipated. When you compare last Wednesday with this Wednesday, it’s a different picture: we are all kept inside the house now. What does it mean for real estate and mortgages?

Real Estate News

I’ve been talking to real estate agents for the past few days. It’s crazy to hear the varying ways that people are trying to figure out how to navigate. Right now, real estate is not considered an “essential business.” But I beg to differ… if these real estate agents are unable to do what they do on a daily basis, there will be people who don’t have homes.

I don’t know what the right answer is. Obviously, we are in unprecedented times. Hopefully they can get a few things squared away to see that housing is pretty essential.

Mortgage News

On the mortgage side, there are definitely a lot of changes happening. The good news is that we are still able to get things done. Appraisals are still happening – everyone is being careful. It’s been amazing to see how everyone is being strategic about being really safe and not spreading the virus, while also at the same time being able to get these loans completed for people.

Next week will be another week. We’ll see how things go. Like I said last week, it’s time to be a leader in the community and think ahead.

Always Here to Answer Your Questions

There is a lot of information out there about different relief programs. I’m doing everything I can to stay ahead of the most recent updates so I can share the information with you.

If you have questions about options for your mortgage in these uncertain times, don’t hesitate to contact me. If I don’t have the right answer, then I’ll reach out to my contacts and help you find the right information.

Franklin Loan Center | NMLS 237653
Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, 4131316
For questions or concerns please email info@franklinlc.com