Refinance

End-of-Year Delinquencies a Challenge for 2021

Posted To: MND NewsWire

Mortgage performance understandably deteriorated over the course of 2020. Black Knight, in its “first look” at December data, noted that the year ended with 1.54 million more delinquent mortgages and 1.7 million more that were seriously delinquent than at the start, calling it “a looming reminder of the challenges facing the market in 2021 .” The situation did continue to improve as the year ended. The national delinquency rate fell 3.9 percent from November to December and the resulting rate of 6.08 percent of all active loans was the lowest since April 2020 when the financial effects of the pandemic kicked in. It is however, nearly 79 percent higher than the rate at the end of 2019. Serious delinquencies, loans 90 or more days past due but not in foreclosure, also declined, dropping by 47…(read more)

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Florida community bank launches mortgage arm

Amerant Bank, one of the largest community banks in Florida, announced it is venturing into the mortgage industry with the formation of Amerant Mortgage.

The post Florida community bank launches mortgage arm appeared first on HousingWire.

Best Cities to Sell a House – 2021 Edition

Deciding to leave the home you own might be difficult given the precious memories you’ve made within its walls. But the process of selling it can be downright taxing, especially when the real estate market is unpredictable. Your asking price, … Continue reading →

The post Best Cities to Sell a House – 2021 Edition appeared first on SmartAsset Blog.

Yellen wins confirmation to become first woman as Treasury chief

Janet Yellen was confirmed by the U.S. Senate as the country’s 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus pandemic.

Mortgage and refinance rates today, January 20, 2021

Today’s mortgage and refinance rates  Average mortgage rates were unchanged yesterday, as expected. So they remain exceptionally low, though a bit above the record. There may be literal fireworks over […]

Refinance soon to avoid the FHFA adverse market refinance fee

Fannie Mae and Freddie Mac’s 0.5% refinance fee is delayed until December 1. But to avoid the fee and higher refinance rates, you need to apply sooner than that.

Mortgage Rates Down Only Slightly Despite Bond Market Rally

Posted To: Mortgage Rate Watch

What’s a bond market rally and why should mortgage rates care? There are all kinds of bonds. US Treasuries would be the quintessential example, but there are also bonds specific to the mortgage market. These are what groups of loans ultimately become in order to be traded on the open market (thus allowing lenders to make more loans with less risk and lower rates). As investors buy and sell bonds throughout the day, bond prices change. The higher the price, the lower the implied interest rate. Simply put, if bonds are rallying, rates should be falling shortly thereafter. The 10yr Treasury yield is typically an excellent barometer for mortgage rate movement. 10yr Treasuries and mortgage-backed bonds tend to correlate extremely well. As such, we might expect a more significant improvement in mortgage…(read more)

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Forbearances hold steady as exits slow

The U.S. forbearance rate held relatively steady last week, rising one basis point to 5.38% of servicers’ portfolio volume, according to the MBA.

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