Economists 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.

First 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.

Mortgage 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.

The 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.

Though the forbearance program will indeed help a lot of Americans, the after effects could hinder households in getting a refinance down the road.

Mortgage 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.

As 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.

Gilead 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.

U.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.

With 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.