Is a Mortgage Crisis Brewing due to the Shutdown? I Seattle Real Estate Podcast

Will there be a mortgage crisis due to the economic shutdown? Or maybe we are already experiencing one and we don't know it quite yet. We are starting to see some buyers get rejected from their purchases. The mortgage denials are based upon the fact that moving forward the buyer's employment isn't stable. What employment is guaranteed in today's market???

Also, the Federal Reserve's buyback of all the mortgage-backed securities is throwing a real wrench in the works. We could be in for some rocky times with buyers trying to get new mortgages.

The news is moving fast these days. People are ordered to stay home, businesses are shutting down, and the coronavirus continues to infect more people.

Follow the Seattle Real Estate Podcast to keep up on whats going on in these turbulent times. We will continue to shoot a daily podcast for as long as the Stay Safe - Stay Home order is in effect.

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