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Coronavirus Market Impact

In just a few short weeks, the coronavirus outbreak has impacted many aspects of everyday life. As we continue to see a pandemic take over much of our daily activities, there’s a huge fear of the unknown with misinformation and even personal and healthcare items being unavailable.

It has also forced the Fed to cut rates this week and mortgage rates to hit all-time lows, leaving many homebuyers with questions. Should they take advantage of current conditions or wait it out to see what happens next? 

It appears that smart buyers are truly taking advantage of this situation. Phones are ringing off the hook and inboxes are jammed for anyone working in the mortgage industry right now.

If you’ve thought about making a move, now is most definitely the time to talk with your lender about a home purchase or to see if a refinance is a good fit for you. If you need any recommendation for lenders, please contact us!

And PS, here’s some things we are doing to stay protected from this virus.

  • No handshaking, fist bumps only
  • Thoroughly wash hands and/or use hand sanitizer. Keep hand sanitizer everywhere. Your car, office, home, purse etc.
  • Use disinfectant wipes for car seats and grocery carts. Be sure to use hand sanitizer when you get in your car after visiting any stores.
  • Stock up on plenty of cleaning supplies and also zinc lozenges to help combat any symptoms that may come about.

Note: This virus is spread in large droplets by coughing and sneezing. This means that the air will not infect you! BUT all the surfaces where these droplets land are infectious for about a week on average.

Stay healthy!