Ryan Gorman, President and CEO of Coldwell Banker hosted a “Real Estate of the Union” live event via Microsoft Teams. If you missed it, the video and audio (take your pick!) recording have been posted below along with some key takeaways! The session covered everything home buyers and home sellers need to know about real estate during COVID-19.
The CARES Act impacts you as a homeowner or potential homeowner in several ways:
The National Real Estate Market Today
The market has been impacted by COVID-19, but real estate transactions are still taking place. If you want to move now or in a few months a local real estate agent is your best source of information.
Mortgage rates are unprecedently low, good news for buyers. As Victor Ciardelli, president and CEO of Guaranteed Rate Affinity, told the audience at our April 7 Virtual Education Expo, “The 30-year fixed-rate mortgage is at 3.5% compared to 3.65% last week. That is much lower than a year ago, when it averaged 4.28%, as well as the long-term average of 7.98%.”
The current market is also distinguished by contactless payment, in which mortgages are now being processed without any physical contact. That means consumers can take advantage of the lowest mortgage rates in history without fears of breaking social distancing rules. The industry is also rapidly embracing technology to process loans for purchase and refinancing, sign disclosures and execute closings.
Coldwell Banker Tech + Tools
Coldwell Banker has invested heavily in robust tools and technology to enable our offices and affiliated agents to remotely provide the same level of real estate services that our clients have come to know and expect. Our agents are still taking listings, conducting virtual open houses and online showings, and even closing properties from the comfort and safety of their own homes.