How Fannie Mae is leveraging technology to expand access to homeownership

Fannie Mae is taking important steps to help the mortgage industry close the racial housing gap, achieve equality within the housing industry and offer sustainable and affordable housing.

What is the next step for NAR?

In this Q&A, Senior Real Estate Reporter Matthew Blake gives us the inside scoop on what happened at NAR’s annual conference, including the latest on the DOJ investigation.

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

What’s next for the maligned real estate appraiser?

In this episode of Houses in Motion, a series that is part of the HousingWire Daily podcast lineup, St. Petersburg, Florida-based appraiser Francois “Frank” Gregoire discusses issues in the appraisal industry.

CoronavirusReal Estate

About 80% of renters were still able to make a rent payment this month

Whether it was paid in full or not

After a full month of repercussions the housing market and job market have faced due to the pandemic, 80.2% of apartment households still managed to make a full or partial rent payment by May 6, according to The National Multifamily Housing Council’s latest Rent Payment Tracker.

Despite the high number, this is still a 1.5 percentage point decrease from the share who paid rent during the same period last year.

According to the report, 78% of renters were able to make a rent payment in April. Last April, 82.9% of renters made a payment.

“Despite the fact that over twenty million people lost their jobs in April, for the second month in a row, we are seeing evidence that apartment renters who can pay rent are stepping up and doing so,” said Doug Bibby, NMHC president. “We expect May to largely mirror April, when the payment rate increased throughout the month as financial assistance worked its way to people’s bank accounts.”

Meanwhile, New York extended its eviction moratorium through August, where 44% of renters said that they would struggle to make a rent payment.

Over half of those who responded to a survey from PropertyNest said that they would pay their rent as usual on May 1 (55.7%). But, there was still 11% that said they wouldn’t have the money for May 1 rent and 10.8% said they would have to wait until they received their stimulus check.

“However, we are in uncharted waters and will be watching this closely over the course of the month as millions of households will not be able to access unemployment benefits, and those who have may find that they are not enough to cover rent plus all the other financial pressures caused by this crisis,” Bibby continued. “Those benefits will also likely fall short in high-cost areas. That’s why we are calling on Congress to include $100 billion in direct renter assistance in the next pandemic relief package.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular Articles

Will Omicron variant stop first Fed rate hike?

What does news about the spread of the new Omicron variant mean for mortgage rates? Lead Analyst Logan Mohtashami lays out what to watch.

Nov 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please