Wednesday, 12 August, 2020

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Tag: Mortgage News


On Saturday, Donald Trump signed four executive orders intended to provide unemployed Americans with some semblance of COVID-19 assistance after negotiations between Republicans and Democrats around the parameters of a new relief bill collapsed on Friday. Speaking from Trump National Golf Club in Bedminster, New Jersey, the President said the four actions “mean bigger pay checks for working families as Read more…


Coronavirus couldn’t stop the housing market Homeownership is at its highest level in 12 years. At least, that’s what a new report from the Census Bureau says. Some experts doubt the data. Since the pandemic affected the survey, homeownership numbers might not be as high as they look. But one thing seems clear: Home buying hasn’t gone away during coronavirus. Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates held steady again yesterday. So they’re still as close as it’s possible to measure to last week’s record low. Conventional loans today start at 3.125% (3.125% APR) for a 30-year, fixed-rate mortgage. Mortgage rates broke with other markets yesterday. Stocks and Treasury yields mostly moved decisively as many investors showed Read more…


Results of a new survey conducted by the National Federation of Independent Business found that small business owners are growing more anxious about the future as the coronavirus nightmare drags on. With applications for the Paycheck Protection Program having closed on Saturday, and a new COVID-19 relief bill still being fought over in Congress, they have every reason to worry. Read more…


Second quarter transaction volumes for commercial property remain severely depressed and changes in pricing are moving slower than expected, according to new data by CoStar Group, a leading commercial real estate analytics company. Early impacts from the coronavirus pandemic saw sudden investor pullback around mid-March, resulting in sales volume in the commercial real estate space to plunge. Deals for the Read more…


Forbearance was an easy fix, but what happens now? A mortgage forbearance plan was the best option for many homeowners just a few months ago. Forbearance protected millions of people from the loss of their homes even if they couldn’t make monthly payments. Now, for the first time, we’re beginning to see cracks in the system. Looming ahead are several Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates held steady last Friday. So they remain where they were the previous day: immediately adjacent to last week’s new all-time low. FHA loans today start at 2.25% (3.226% APR) for a 30-year, fixed-rate mortgage. Markets may well spend today wrestling with President Donald Trump’s weekend executive orders and memorandums concerning Read more…


You can refinance even if your current loan is still fresh With today’s low mortgage rates, you might be thinking it’s time to refinance. But what if you just recently bought the home, or already refinanced once? Is it too soon to refinance? Can you do it again? In most cases, you can refinance your mortgage as many times as Read more…


You can refinance even if your current loan is still fresh With today’s low mortgage rates, you might be thinking it’s time to refinance. But what if you just recently bought the home, or already refinanced once? Is it too soon to refinance? Can you do it again? In most cases, you can refinance your mortgage as many times as Read more…


A federal appeals court has overturned the convictions of two California men sentenced to federal prison in 2018 for allegedly participating in an $11.3 million mortgage scam. In 2018, Maher Obagi and Mohamed Salah were sentenced to 78 months and 57 months, respectively, in federal prison, and each was ordered to pay millions of dollars in restitution. Now the Ninth Read more…


Last week, financial advice website NerdWallet released a set of seven predictions for the U.S. housing market for the latter half of 2020. The predictions may not be the boldest ones out there, but NerdWallet’s housing and mortgage expert, Holden Lewis, whose prognostications make up the report, is confident they will stand up in the face of an intensified COVID-19 Read more…


You can refinance even if your current loan is still fresh With today’s low mortgage rates, you might be thinking it’s time to refinance. But what if you just recently bought the home, or already refinanced once? Is it too soon to refinance? Can you do it again? In most cases, you can refinance your mortgage as many times as Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates inched lower again yesterday. So they’re as close as it’s possible to be to the fresh all-time low set on Tuesday without actually matching it. FHA loans today start at 2.25% (3.226% APR) for a 30-year, fixed-rate mortgage. It would be no surprise if these rates were to continue to Read more…


You don’t need 20% down to avoid PMI PMI (private mortgage insurance) is usually required for anyone buying a home with less than 20% down. Understandably, many home buyers would rather avoid PMI. That’s because PMI is an added cost for the borrower, but it only protects the lender if you can’t pay your loan back. Keep in mind that Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates edged higher yesterday. But they’re still at a level that would have been a clear all-time low as recently as Monday. VA loans today start at 2.25% (2.421% APR) for a 30-year, fixed-rate mortgage. Where these rates go next may well be decided by events in Washington DC. If politicians Read more…