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The ARAMCO Report
By Mehran AramBusiness
The ARAMCO Report episodes
- Unemployment Projected to Hit New HeightsEconomists fear that the global pandemic will have a severe effect on the unemployment rate here in the U.S. in the short term. Economists are hopeful that a rebound will begin some time during the second half of the year.2 min
- Q1 Median Home Prices Up Nearly 10% Year Over YearFirst quarter home prices saw an uptick both quarter over quarter and year over year, however this report didn't reflect the effects of the pandemic on the housing industry yet.2 min
- Lenders Tightening Underwriting StandardsMortgage rates still near at all time lows making it an ideal time for those looking to refinance or buy a home. Although mortgage rates are still at their lows, some might find it difficult to get a loan as some lenders have made it a bit more difficult as they tighten their underwriting standards as a response to the global pandemic.2 min
- Big Banks No Longer Accepting Applications for a Specific Loan OptionThe global pandemic is keeping mortgage rates in the U.S. suppressed as they are still hovering near all-time lows. Meanwhile banks such as JP Morgan and Wells Fargo have paused receiving applications for a certain line of credit options due to the current uncertainty in the economy.2 min
- Nearly 10% of Mortgages in ForbearanceThough the forbearance program will indeed help a lot of Americans, the after effects could hinder households in getting a refinance down the road.2 min
- Mortgage Rates Holding SteadyMortgage rates have been in a steady lately still hovering near their all-time lows. Meanwhile mortgages under forbearance could possibly cause a problem for homeowners down the road.2 min
- Mortgage Forbearance Plans Surpass 3 MillionAs of April 30th the number of Covid-19 related mortgage forebearance plans had reached 3.8 million. Economists expect that number to continue on an upward trajectory for the foreseeable future.2 min
- Gilead Covid-19 Drug Test Boosts Stock MarketGilead Sciences' experimental drug remdesivir has shown positive effects in treating Covid-19 with the FDA moving forward in authorizing an emergency use for the drug without full approval yet. Meanwhile, some real estate companies are moving forward in reopening their businesses.2 min
- U.S. Consumer Sentiment Dips for Third Straight MonthU.S. consumers are feeling the weight of the covid-19 pandemic as consumer sentiment continued to decline in April for the third straight month. The index fell from 89.1 in March to 71.8 in April, however economist polled expected the drop to be much lower.2 min
- Real Estate Market Eyeing May or June ReturnWith the country slowly trying to get back to normal , the real estate market is looking to get back on track by May or June with in-person open houses and tours of properties.2 min
About The ARAMCO Report
From the publisher's feed
The Aramco Group specializes in an array of mortgage and real estate products for San Diego homeowners. The Aramco Team is committed to providing our clients with the highest quality financial services and advice, and is motivated more than anything by complete customer satisfaction as evidenced by our A+ rating with the BBB.
Whether you are purchasing your dream home, refinancing your current loan, benefitting from a reverse mortgage, or consolidating debt, our professional staff will help you find a financial solution that is tailored specifically to meet your needs. Being a family owned and operated firm since Aramco’s establishment in the 90’s we ask you to trust your family’s finances to our family, at The Aramco Group.