Renting

Mortgage and refinance rates today, January 27, 2021

Today’s mortgage and refinance rates  Average mortgage rates edged higher yesterday. It was only a small increase. And rates remain in uberlow territory. But it ended an eight-working-day run without […]

Loans Still Taking 2 Months to Close as Refi Demand Stays Strong

Posted To: MND NewsWire

The interest rates on 30-year fixed rate mortgages originated in December reached an all-time low in ICE Mortgage Technology’s (formerly Ellie Mae’s) records, an average of 2.93 percent and a 4-basis point decline from the November rate. The company, in its monthly Origination Insight Report , said the note rate for all three loan types it tracks, FHA, Conventional, and VA, were all below 3.0 percent for the second straight month. FHA and Conventional loans dropped to 2.94 and 2.96 percent, respectively. Each averaged 2.99 percent the prior month. The VA rate fell from 2.72 to 2.66 percent. Refinances continued to dominate at 60 percent of originations , down 1 percentage point from November but up from 46 percent a year earlier. The outsized share was skewed toward conventional loans at 68…(read more)

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Mortgage rates set 14th record low of the year, driving even more refinance demand – CNBC

Mortgage rates set 14th record low of the year, driving even more refinance demand  CNBC

‘You’re Throwing Money Away’ and Other Myths About Renting

Love flexibility? It may be time to rethink renting’s bad reputation.

Hamptons home sales soar to a record, and so do bidding wars

The Long Island resort towns saw 803 completed deals in the fourth quarter, the most for any three-month period in data going back to early 2005.

How mortgage rates move when the Federal Reserve meets

The Fed adjourns from a 2-day meeting Wednesday. The group doesn’t set mortgage rates but it can influence them. How this week’s meeting could affect your refinance and purchase mortgage rate.

Mortgage Rates Start Strong But End Higher

Mortgage rates have had a great couple of weeks after jumping to multi-month highs at the beginning of January. By yesterday, they’d made it almost all the way back to their best recent levels. The same was true this morning, but things have changed since then. The bond market (which dictates rates) had its worst day in several weeks. This was at least partially in response to volatility in equities markets which helped bonds yesterday but hurt them today. When bonds lose enough ground during the course of a day, mortgage lenders can adjust their rate offerings with what’s known as a “mid-day reprice.” Reprices can be for the better or worse. Today’s were worse , but the damage is far from severe –only unwinding a day or two of the recent improvement. The average mortgage borrower would likely

FHA Forbearance Eligibility and Eviction Moratoria Extended

Posted To: MND NewsWire

The Acting Secretary of the Department of Housing and Urban Development (HUD) has announced an extension of the deadline for borrowers with FHA mortgage loans to apply for and receive forbearance. Matthew Ammon said up to six months of deferred or reduced mortgage payments may be available to homeowners financially impacted by the pandemic who request it by March 31, 2031. An additional six-month extension to the initial forbearance term is possible. Ammon said, “On the first day of his new Administration, President Biden took immediate actions to stem the economic devastation experienced by the nation’s hardworking families because of the pandemic. Today’s extension supports the President’s direction by providing more time for homeowners to seek mortgage payment relief.” The changed timeline…(read more)

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