May 19, 2020
“More than 4.1 million homeowners are in forbearance plans now, according to the latest data from the Mortgage Bankers Association. While mortgage servicers are still facing stress because of the record deluge of requests for payment relief, signs suggest that… Continue Reading…
May 5, 2020
“The number of people seeking to have mortgage payments paused or reduced rose to 7.5% as of April 26 from 7.0% a week earlier as the economic effects of the novel coronavirus outbreak stretched household finances, figures from the Mortgage… Continue Reading…
May 1, 2020
“The average rate for a 30-year loan was 3.23%, down from 3.33% last week and the lowest in almost 50 years of data-keeping, Freddie Mac said in a statement Thursday. The previous record was 3.29%, reached in early March. The… Continue Reading…
April 3, 2020
“Fannie Mae and Freddie Mac, the government-controlled companies that guarantee nearly half of US mortgages, could require their second bailout in just over a decade if the US economy remains in a lockdown for several months, their regulator has warned.… Continue Reading…
March 16, 2020
“The Federal Reserve took massive emergency action Sunday to try to help the economy… slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds. The Fed’s surprise announcement signaled its… Continue Reading…
March 9, 2020
“According to Freddie Mac, mortgage rates hit a record 3.29% in the week, the lowest level in its nearly 50-year history. While rates were on the slide, mortgage applications jumped by 10% in the last week from 1-year ago, with… Continue Reading…
October 17, 2019
“Housing inventory hit a record low about two years ago, but a lull in home sales over the past year helped build back much-needed supply, especially in the mid-priced range. Then a sharp drop in rates this summer brought demand… Continue Reading…
August 20, 2019
” U.S. mortgage debt reached a record in the second quarter, exceeding its 2008 peak as the financial crisis unfolded…” https://www.wsj.com/articles/u-s-mortgage-debt-hits-record-eclipsing-2008-peak-11565708431 Debt in general is bad (unless it’s leveraged correctly) but the main problem of the 2008 housing crash was… Continue Reading…
March 14, 2019
“The average size of mortgages U.S. consumers were looking to obtain to buy a home or to refinance one hit a record high of $354,500 last week, suggesting resilience in the higher end of the housing market, the Mortgage Bankers… Continue Reading…
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