FOR IMMEDIATE RELEASE

Los Angeles, CA (August 21, 2020) - The Novel Coronavirus pandemic or Covid-19 has ravaged countries and the economy of most sectors around the globe. When the outbreak happened, the housing and property market witnessed an immediate nosedive. Amidst slow recovery of the industry, Edward Rainey Renwick – the CEO of Raineth Housing, believes that the housing market will grow stronger in the coming months even with the pandemic still being around.

The rates of interest are historically low, and this is expected to continue, given that the Federal Reserve will possibly keep the policy accommodative. The rates will be kept low even into the recovery. The average mortgage rates that are fixed for 30 years have dropped to less than 30%. This is the lowest in almost five decades.

The reduced rates have been resulting to an increase in mortgage applications, which serve as a measure of home buying activity of the coming times.

Due to all such factors, Renwick believes that the housing market in the US will emerge stronger from the pandemic and will enjoy good growth even while it is on.

About Edward Renwick
Edward Renwick is the owner and CEO of Raineth Housing, one of the biggest low-priced, clean and safe single-family home providers to families in low income group. He has been the Commissioner of Port of Los Angeles; Member of the Board of Directors of ‘The Yucaipa Companies’ and more.

For further information or enquiries, visit https://www.portoflosangeles.org/commission/board-members
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