Aramco Report

Online real estate site Redfin announced this week that it would be making sharp cuts in its staff as the housing market comes to a standstill during the pandemic. In a statement from the company, Redfin shared that it would be laying off approximately 41 percent of its agents and support staff unti...

It was just a few weeks ago that mortgage rates were at all-time lows and a surge in refinances was flooding the market. But according to new data from the Mortgage Bankers Association, total applications continued their second week in freefall. Applications declined by 17.9 percent from the previou...

The California Judicial Council announced this week that is was issuing emergency orders that would stop nearly all foreclosures and evictions in the state for the foreseeable future. Lenders and landlords will only be able to proceed with removing residents and tenants where public health or safety...

With a record-shattering number of jobless claims the last two weeks, more homeowners are considering taking advantage of the many programs mortgage lenders are offering for those impacted. Some experts are concerned however, that with mixed messaging about the variety of options available, homeowne...

As previously reported, many appraisal companies are allowing buyers and sellers to take their home valuations virtual during the stay-at-home orders that many states are imposing. With these lockdowns expected to stay in place for longer than anticipated, other elements of the home buying process a...

California Governor Gavin Newsom made official statewide what many individual banks have been doing for weeks, financial relief to homeowners. The governor's office announced on Wednesday that financial institutions in the state would be providing reprieve to property owners who have been impacted b...

The San Diego County Treasurer-Tax Collector appears to be holding fast to the current property tax deadline of April 10. San Diego County property owners, as of now, are still expected to pay their tax bill by that date or face penalties. In a statement regarding the unchanged due date, a spokespe...

Elevated concerns about the economy have led to the largest single month drop in consumer sentiment in the U.S. since October 2008 according to The University of Michigan’s final sentiment index for the month of March. The index fell 11.9 points to a three year low of 89.1, slightly below economists...

As reported last week, a record-breaking 3.2 million Americans filed for unemployment benefits last week as the pandemic wreaks havoc on the U.S. economy. As a result, many experts are expecting a surge in delinquent mortgages in the coming months. Many of the nation’s largest mortgage lenders are...

In a clear demonstration of the resilience of the American spirit, homebuyers determined to make a move have shown that they will move forward with their plans even as the nation is on a temporary lockdown. In order to maintain social distancing and slow the spread of the virus, many are turning to...