Happy Earth Day everyone! Today is April 22 and we are reading about ways the planet and environment have changed due to COVID-19. We also see that the market has jumped after oil prices try to stabilize, the Senate has passed another round of stimulus to relieve small businesses and hospitals, home mortgage demand stalls and Fannie & Freddie will now buy loans in the mortgage bailout program.
Stocks rose for the first time in three days on Wednesday as crude prices tried to stabilize after a record plunge.
The Senate on Tuesday passed a $484 billion package to bolster small businesses and hospitals ravaged by the coronavirus pandemic and expand testing for Covid-19.
The Federal Housing Finance Agency, regulator of Fannie Mae and Freddie Mac, announced that the two mortgage giants will now buy home loans that go into the government’s forbearance program just after they close.
Mortgage volume appears to be settling into a new normal, as refinance demand stays high and purchase demand sits at a five-year low. Total mortgage application volume decreased 0.3% last week from the previous week.
As a result of the COVID-19 pandemic, billions of people across the globe are now living under strict lockdown conditions, causing unprecedented reductions in human activity. Not surprisingly, this is having a big impact on the planet in several ways.