The 30-year fixed-rate mortgage held steady compared to last week, averaging 3.33%.

“There is room for rates to move down,” says Sam Khater, Freddie Mac’s chief economist. “This year the 10-year Treasury market has declined by over a full percentage point, yet mortgage rates have only declined by one-third of a point. As financial markets continue to heal, we expect mortgage rates will drift lower in the second half of 2020.”

Freddie Mac reported the following national averages with mortgage rates for the week ending April 9:

• 30-year fixed-rate mortgages: averaged 3.33%, with an average 0.7 point, unchanged from last week’s average. Last year at this time, 30-year rates averaged 4.12%.
• 15-year fixed-rate mortgages: averaged 2.77%, with an average 0.6 point, falling from last week’s 2.82% average. A year ago, 15-year rates averaged 3.60%.
• 5-year hybrid adjustable-rate mortgages: averaged 3.40%, with an average 0.3 point, unchanged from last week. A year ago, 5-year ARMs averaged 3.80%.

Average commitment rates are reported above, along with the average fees and points, to reflect the total upfront costs of obtaining the mortgage.

In a socially distanced world, neighbors are feeling more neighborly. Families are spending more time at home as cities close non-essential services to fight the spread of COVID-19. Stay-at-home and shelter-in-place orders are prompting neighbors to step outside and use their front porch as a venue to connect even as they maintain a physical distance.

Some neighborhoods are holding block parties, where residents step outside and eat on their front lawn as neighbors doing the same on their lawns.

Neighbors are also boosting each other’s morale: They’re holding neighborhood teddy bear hunts that can be enjoyed from car windows, urging children to dress up the sidewalks with chalk designs, and even planning Easter Bunny viewing parties as the neighbor prepares to drive past homes in costume this weekend. Some school teachers are doing drive-by visits to their students too. Some neighborhoods are displaying holiday lights and words of encouragement to cheer on health care workers. Homeowners are sharing their neighborhood connections over social media.

Neighbors are emerging from their homes, checking in on one another, and making sure older members of the community have what they need, writes Debbie Wolfe, a freelance writer from the Atlanta area, in an article at realtor.com®.

Wolfe says one friend shared how she and her son painted rocks with uplifting messages that they then scattered around the neighborhood. Another neighbor is leaving snacks out daily for anyone who is in need.

Facebook groups are trying to usher in this neighborly feel too, with groups like Heart Hunters sharing photos of artistic hearts that people nationwide are putting in their windows to spread joy to passersby.

Ilana Minkoff, a real estate professional with Vanguard Properties in San Francisco, became lonely during her evening walks with her dog in her neighborhood after shelter-in-place orders took effect. So on her neighborhood Facebook page, she invited others to step outside their doors and open their windows one evening to sing a song together. Her “Quarantine Sing-Along” group on Facebook has grown to more than 52,000 members across the globe in three weeks. Now, neighborhoods are uniting from their own doorsteps and posting videos on the group of them singing the day’s song together.

As more people spend time inside, indoor air quality is becoming a pressing issue. Here are a few tips from experts recently highlighted at Curbed.com.

Use the vent when cooking. “One of the big things we’re starting to understand a little more is the problems with cooking,” Adriano L. Martinez, an environmental lawyer who tweets about air quality issues as @LASmogGuy, told Curbed.com. “A hood and fan that siphons toxic fumes out of your kitchen can make a big difference, even if you’re just boiling water. Try to run the fan every time you’re cooking.”

Clean surfaces. Cleaning has never been more important than in the age of a pandemic, but it can also help improve the indoor air quality of your home. Wipe down surfaces and vacuum frequently to remove build ups of dust, pollen, and mold, which all impact air quality, Curbed.com reports.

Avoid the VOCs. Pay attention to the labels when cleaning to avoid products containing volatile organic chemicals. The fumes have been linked to irritating lungs.

Use a high-quality filter on the HVAC. A good filter can help trap airborne pollutants inside a home. Martinez suggests looking for a minimum efficiency reporting value, or MERV rating, of 8 or higher on the HVAC filter. Also, change it frequently. Plug-in air purifiers can also help, experts say.

The Department of Housing and Urban Development announced Thursday the Federal Housing Administration will offer a tailored set of mortgage relief options to those with FHA-insured mortgages who are being affected by the COVID-19 pandemic and who are unable to make their payments.

Mortgage servicers may extend deferred or reduced payment options to FHA borrowers facing financial hardship for six months, and also extend options beyond that to an additional six months of forbearance, if requested by eligible borrowers.

The FHA guidelines are part of the stimulus package that President Donald Trump signed into law March 27, the Coronavirus Aid, Relief, and Economic Security Act. That law requires banks to extend to borrowers with federally backed mortgages up to 12 months of forbearance if facing a coronavirus-related financial hardship.

“The last thing any of us wants is for Americans to lose their homes unnecessarily while we continue to fight this invisible enemy,” HUD Secretary Ben Carson said in a statement. “If you’re struggling, immediate help is now available. The FHA will continue to work with stakeholders to ensure that the loss mitigation options that are offered for both forward and reverse borrowers are appropriately tailored for the present situation.”

The FHA also announced it is offering a new program that will allow borrowers who do take part in the forbearance to hold off on paying the full amount from their forbearance period until the mortgage is paid off. Its COVID-19 National Emergency Partial Claim is an option that can take effect when the forbearance period ends. The partial claim will help eligible homeowners who have been granted forbearance reinstate their loans by authorizing servicers to advance funds on behalf of homeowners. Borrowers who are given an interest-free subordinate mortgage will not have to pay it off until their first mortgage is paid off.

The FHA also announced changes to its reverse mortgage rules, allowing borrowers to delay making home equity payments for six months and possibly an additional six months as well if facing a coronavirus-related hardship.

Homeowners who are struggling to make their mortgage payments are urged to contact their mortgage servicer to discuss options.