Renting

Real Estate Delistings Increase 148% From a Year Ago as COVID-19 Impact Grows

Housing supply was bad before the coronavirus epidemic reared its ugly head, and now it has gotten even worse, per new data from real estate brokerage Redfin. Homes Flying Off the Market 28,140 homes were taken off the market before selling in the past week That represents a 148% year-over-year increase in delistings Even worse [&hellip

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The Cash Out Refi Share Is Above 80%, But There’s a Catch

While it would appear that borrowers are using their homes as ATMs again, it’s a bit misleading. Yes, the share of home mortgage refinances that resulted in cash out rose above 80% in the third quarter, per Freddie Mac data, but one must also consider overall loan volume. Let’s start with the basics here. Of [&hellip

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2020 Mortgage Rate Predictions: Expect Flat to Better

As 2019 wraps up, it’s time once again to consider what the future holds for mortgage rates. Looking back over the past 12 months, it was another great year for anyone looking to buy a home or refinance, at least with regard to interest rates. Sure, home prices aren’t on sale anymore, nor have they [&hellip

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There Are Still Nearly 90,000 Borrowers Who Could Benefit from a HARP Refinance

Before mortgage rates began their recent upward trajectory to start off 2018, quite a few mortgage refinances squeaked through the door. Some 446,295 refinances were completed by Fannie Mae and Freddie Mac in the fourth quarter of 2017, up considerably from 362,934 in the third quarter, according to the Federal Housing Finance Agency (FHFA). The [&hellip

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Do Mortgage Rates Change Daily?

It’s that time again folks, where I answer your burning mortgage questions. The latest mortgage Q&A: “Do mortgage rates change daily?” Mortgage rates are hot news right now, what with them hovering around all-time lows yet again but beginning to inch higher. And it seems everyone is interested to see if they can save a [&hellip

The post Do Mortgage Rates Change Daily? first appeared on The Truth About Mortgage.

Mortgage Forbearance Rate Hits 7%, Fannie/Freddie May Offer Partial Claim to Repay

Here we go again – the latest Forbearance and Call Volume Survey from the Mortgage Bankers Association’s (MBA) revealed that the total number of loans in forbearance increased from 5.95% to 6.99% as of April 19th, 2020. That means roughly 3.5 million homeowners have now asked for their mortgage payments to be put on hold [&hellip

The post Mortgage Forbearance Rate Hits 7%, Fannie/Freddie May Offer Partial Claim to Repay first appeared on The Truth About Mortgage.

The FHFA Just Launched a National Campaign for HARP Four Years After the Program Was Created

This morning the FHFA launched a national campaign to educate homeowners about the Home Affordable Refinance Program (HARP). While that sounds like a sensible move to promote the underwater refinancing program, it comes four years after the initiative was originally announced back in 2009. And that’s why it’s a bit of a head-scratcher. Why now? [&hellip

The post The FHFA Just Launched a National Campaign for HARP Four Years After the Program Was Created first appeared on The Truth About Mortgage.

Borrowers with Low Credit Scores Should Shop Their Mortgage More

Most people don’t bother shopping around for their mortgage, despite the tremendous potential savings involved. In fact, nearly half of consumers only bother obtaining a single mortgage rate quote. It’s understandable since it’s certainly not any fun calling a bank to inquire about a mortgage refinance or to set up home purchase financing. So expecting [&hellip

The post Borrowers with Low Credit Scores Should Shop Their Mortgage More first appeared on The Truth About Mortgage.

Stimulus Checks Barely Make Dent in Mortgage

The so-called “coronavirus checks” have begun to hit Americans’ bank accounts this week, providing relief to those whose income has been curtailed or completely cut. It might be especially helpful to those who need to pay rent or make a monthly mortgage payment, the latter of which can be pushed back as late as the [&hellip

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