Please read the article, NY has approved suspending mortgages if you can prove you're having an economic hardship.

With the grim economic outlook in mind, how can my investment be effected?

GETTING HELP NOWNYTimes - Money MattersUnemployment - law expires 12/31States can access when they have 10% rise in unemploymentUnemployment is typically 45% of lost incomeMost states pay 26 weeksDon’t have to lose your job, can get it if: you are quarantined, furloughedGetting unemploymentHave to have been at job for 30+ daysEligible for 2 weeks paid if ill or quarantined or caring for sick family memberPart time workers can get average of normal 2 week salarySelf-employed (gig workers, etc) must calculate daily average and claim as tax creditWho is exempt:People that work at companies that employ 500+ peopleCompanies with fewer than 50 people can ask for an exemptionEvictions + ForeclosuresMoratorium right now on bothSuspended for 60 daysThis includes foreclosures that are in processTaxesCan hold off on paying (without penalty) until July 15th if:You owe less than $1 million to the federal governmentIf you are getting a refund, it will come in a normal time frameMortgagesFind out who owns your mortgage + what programs are availableRequest Assistance (Fannie Mae)Small Business ReliefSBA Economic Injury Disaster LoansSmall business loans up to $2mil3.75% int rate for businesses | 2.75% for nonprofitsDenver Small Business ReliefDENVER RE TRENDS - please note you should watch Seattle, as what happens there will likely come to Denver and Colorado SpringsPulled data for detached/attached homes within 6 miles of a client property in Sloans Lake$350-$500KMore properties went under contract in past 5 days than in two other 5 day increments we recorded (11-15, and 16-20 days out)35 of those were on the MLS for 6 or fewer days$500-$700KSimilar to above, 5 days out is beating number of houses that went under contract 11-15 days out and almost the same as 16-20 days outCitywide: 2.4 homes were falling out of contract/day in March. 5.8 for Feb. 2.7 for Jan. $800-$1.2Mdown from 5 day increments before, but not significantly and a small data set

I called to ask a question and I got "Due to the economic situation we are no longer processing loans" My broker said they have loans out with a lot of large businesses around the area and Boston.

But given the current economic climate it might be harder to find a new tenant or you might see rents drop a little due to the fact that this crisis is impacting a lot of people in the workforce.

So, I have an opportunity to buy a house for roughly 20% below current market value (of course I'm sure this will change now with the coronavirus and ensuing economic instability).

I agree with a lot of your assessment on the market...this is different than a normal economic downturn due to the fact that businesses in otherwise good condition are longer receiving revenue.

We will get through this but no one knows how long or how deep the economic impact and effects on housing in the short term. 

Already announcing mortgage grace periods for economic hardship.We are nearing the point of maximum anxiety, in a few weeks taht will be gone and we will work the problem instead of freaking out.

I'm certainly not an expert on mortgage rates, but I know they're determined by supply and demand in the bond market.