News
NEWS: With rates under 3%, most mortgages are due for a refinance, study says
Doug Whiteman July 19, 2020 Few people ever expected to see mortgage rates slide so low, and many homeowners have been caught off guard. Thirty-year fixed-rate mortgages are now averaging less than 3% in multiple surveys — and are offering major refinance savings. Though mortgage holders have been flocking to get new loans with sharply reduced interest…
Read MoreNEWS: CoreLogic: Summer Home Price Cooldown on the Way
MBA Newslinks July 7, 2020 CoreLogic, Irvine, Calif., said home prices rose strongly in May, but warned that the effects of the coronavirus and subsequent economic downturn could send home price tumbling over the summer. The CoreLogic Market Risk Indicator predicts 125 metro areas have at least a 75% probability of price decline by May…
Read MoreNEWS: House Hunters Now Need Pre-Approval Letters to Walk in the Door. What the Trend Means for Buyers, Sellers and Agents
Daniel Bortz July 6, 2020 Home buyers eager to take advantage of low interest rates are rushing to schedule home tours, just recently allowed in some places as stay-at-home restrictions are eased. To curtail potential exposure to the coronavirus, however, many sellers are trying to limit the number of people traipsing through their properties. To achieve this,…
Read MoreNEWS: Refinancing your mortgage could put cash in your pocket — here’s how to find out if it’s right for you
Michelle Fox July 6, 2020 With mortgage rates at record lows, it’s no wonder many Americans are refinancing their homes. Add to that the coronavirus pandemic and the economic recession, and the need to find extra cash or to cut expenses becomes even greater. In fact, refinance applications are 74% higher than a year ago, according to the Mortgage…
Read MoreNEWS: Families fleeing the city are pushing up home prices amid tight supply
Martha C. White June 24, 2020 A buyer from New York City saw a home via virtual tour, then three hours later offered the full asking price, in cash, one realtor said. The number of existing home sales cratered in May, but real estate professionals — along with homeowners — say pent-up demand is roaring…
Read MoreNEWS: Mortgage rates keep falling to record lows — so is now a good time to refinance?
Jacob Passy June 26, 2020 Homeowners stand to save money by refinancing, but some factors may make getting a new loan less worthwhile The coronavirus pandemic has led to a dramatic decline in mortgage rates. But that doesn’t mean now is a good time to refinance for everyone. Last week, Freddie Mac FMCC, -1.42% reported that mortgage rates hit…
Read MoreNEWS: Homes Will Look Different After Coronavirus
MBA Newslinks June 22, 2020 As people spend more time at home during the pandemic, buyers are realizing which features work well under the circumstances and which do not, said Zillow, Seattle. Many homeowners are reconsidering their home’s functionality as formerly popular design features have become less workable. Now, many home builders think demands for…
Read MoreNEWS: Mortgage rates drop to another record low — here’s why Americans may not want to wait too much longer before locking rates in
Jacob Passy June 22, 2020 Low mortgage rates are stoking the housing market’s recovery from the coronavirus, but there may be limits to how much of a boost they will give Mortgage rates have fallen to a new all-time low for the fourth time this year. But there’s significant upside risk to the low rate…
Read MoreNEWS: Demand Higher than Before Pandemic; So is Stress Amid Falling Inventories, Lingering COVID Concerns
MBA Newslinks June 15, 2020 Reports from Redfin, Seattle, and Clever Real Estate, St. Louis, illustrate the lingering effects of the coronavirus on the home-buying process—and the current state of home-buying demand. Redfin reported seasonally adjusted home buying demand jumped in early June and is now 25% higher than it was before the coronavirus smacked…
Read MoreNEWS: Race and Lending: Creating Opportunities for People of Color in the Mortgage Space
Clayton Jarvis June 4, 2020 Two people bringing more diversity to the mortgage space are WFG Lender Services’s vice-president of national business development, Monique Winston, who also heads the Cleveland Realtist Association, and Tony Thompson, founder and CEO of the National Association of Minority Mortgage Bankers of America.https://www.mpamag.com/news/race-and-lending-creating-opportunities-for-people-of-color-in-the-mortgage-space-224252.aspx
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