What to do when your CARES Act mortgage forbearance ends
Millions of CARES Act mortgage forbearance plans are set to end in September and October Should you extend your forbearance plan or exit?
Millions of CARES Act mortgage forbearance plans are set to end in September and October Should you extend your forbearance plan or exit?
Mortgage rates are coming off a rough week– the roughest , in fact, since June 2020 by some measures. That’s the last time rates rose this quickly for market-driven reasons. There were a few instances of bigger moves in Aug/Sept as the new refinance fee was announced, delayed, and ultimately implemented. Either way, things aren’t great right now, relatively speaking. The “relative” qualification is important considering this abrupt move higher has yet to threaten to take the average top tier 30yr fixed quote above 3%–far from it, in fact. Most lenders can still offer 2.875% or better on refis and 2.625% or better on purchases. This assumes an ideal scenario with 20%+ equity, strong credit, etc. If this drama were to conclude right now, it wouldn’t be that big of a deal in the bigger picture
Posted To: MBS Commentary
A few hours after markets closed yesterday, news began coming out regarding a Biden aide mentioning tonight's stimulus proposal would be in the $2 trillion neighborhood. That's quite a bit more than the $1.3 trillion that had been making the rounds a few hours prior (the same number was thrown around more than a month ago as well). Treasuries reacted to this overnight with a whopping sell-off of 3bps. This reflects the fact that markets have largely priced in some sort of $1.3+ trillion in additional spending/relief. We won't get a chance to any additional reaction until tomorrow's trading session, as Biden won't be speaking until after 7pm ET. It's another light day in terms of economic data, with Jobless Claims already out at 965k vs 795k forecast and 784k previously…(read more)
Not knowing your mortgage rate can be an expensive mistake, especially in this rising interest rate market.
Yet nearly three-in-10 mortgage borrowers (29 percent) either didn’t know their mortgage rate or wouldn’t say, according to a survey by Bankrate.
This is a big problem, says Martin Choy, operations manager at Westwood Mortgage in Seattle.
After falling to a record low last week, the average U.S. mortgage rate for a 30-year fixed loan remained at 2.67% this week.
The post Mortgage rates remain at record-low levels appeared first on HousingWire.
Youâve got to pretty confident to say youâre #1 in both price and customer service, but thatâs exactly how âOptimum First Mortgageâ describes itself. The Southern California-based mortgage lender isnât afraid to say it has the lowest rates in the industry, or the best customer service. Itâs a bold claim (or two), but based on [&hellip
The post Optimum First Mortgage Review: #1 in Price and Customer Service? first appeared on The Truth About Mortgage.
If buying a home is your next financial goal, then you may have heard about mortgage insurance. Mortgage insurance is probably not what you expect it to be. We will cover what you need to…
The post What Is Mortgage Insurance? appeared first on Crediful.
Buying a home, especially if youâre a first-time home buyer, can be daunting and nerve racking. But it does not have to be. LendingTree’s online loan marketplace has got you covered – at least when it comes to getting a mortgage. A 2016 study by the Office of Research of the Bureau of Consumer Financial …
Continue reading “Buying a Home for the First Time? Avoid These Mistakes”
The post Buying a Home for the First Time? Avoid These Mistakes appeared first on GrowthRapidly.
Using the Hudhomestore to buy a HUD home is easy. If you’re looking to buy a HUD home, the Hudhomestore website is the best place to do it. It can be found here at hudhomestore.com. HUD homes are listed for sale at the site. While anyone can buy a HUD home, you will need to …
Continue reading “How to Buy a HUD Home at the Hudhomestore Website?”
The post How to Buy a HUD Home at the Hudhomestore Website? appeared first on GrowthRapidly.
Itâs been a while since I last posted a mortgage match-up, so without further ado, hereâs the latest installment: “Prepay the mortgage or invest instead?” There are likely thousands of articles that deal with this very subject, all with plenty of differing opinions, but we are in unprecedented times. Mortgage rates have never been lower [&hellip
The post Should You Prepay the Mortgage or Invest Instead? first appeared on The Truth About Mortgage.