Coronavirus and Local Real Estate

So as of today, March 12, 2020, Coronavirus cases are spreading - first there’s one case reported, then 2, then 100, then a thousand. Universities and other schools aren't having live classes. Germy kids get to stay home and only infect family members and caregivers. The NBA has suspended the season. Wow! And mortgage interest rates are so volatile that lenders aren’t publishing them. In fact, some lenders aren’t taking any new or refinance business because they have more than they can handle. 

I called Natalie Salins at Movement Mortgage and she told me that she thinks with a lot of guessing that rates will settle down around where they were before all this—3.5 to 4%. Doug Smaldino at Hillhurst Mortgage thinks around 3.875%. They both are still doing business, so give them a call.  And those are the good rates for the best credit risks, all kinds of caveats noted.