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COVID-19’s Impact on Home Seller Sentiment

10.28.2020

The competition among homebuyers is intense and home prices have been soaring in recent months. The cause of this heated competition and rising prices is the short supply of homes for sale. This lack of inventory has been prevalent across the country since COVID-19.

FHA Updates Forbearance Deadline

10.21.2020

The Federal Housing Administration (FHA) and U.S. Department of Housing and Urban Development (HUD) today announced it is extending the date for single family homeowners with FHA-insured mortgages to request an initial forbearance from their mortgage servicer to defer their mortgage payments for up to six months.

How Some Mortgage Loan Applications Are Defying Trends

10.15.2020

The Mortgage Bankers Association (MBA) reported that there was a 0.7% decrease in mortgage application volume on a seasonally adjusted basis for the week ending on October 9, 2020 from the previous week. This was a 1% decrease on an unadjusted basis.

Home Seller Optimism Rising, but Buyers’ Declines

10.08.2020

Fannie Mae's Home Purchase Sentiment Index (HPSI) increased 3.5 points in September to 81.0. That's the second consecutive month of increase, showing a rebound from late spring continuing. Three of six HPSI components increased month-over-month, and consumers reported a "substantially more optimistic view of home-selling conditions, expected home price growth, and the labor market, but a more pessimistic view of homebuying conditions and mortgage rate expectations."

Homeowners Who Haven’t Refinanced Stand to Lose Thousands

09.30.2020

According to a recently published Zillow report, mortgage rates are still hovering at all-time lows. This means that those homeowners who have not yet taken the plunge and refinanced their mortgages are missing out on big savings. Zillow points to these potential savings as being in the thousands.

Fannie Mae Explains the Housing Market’s ‘V-Shaped Recovery’

09.23.2020

Fannie Mae's latest Economic & Housing Outlook reported that the GSE's economics team expects Q3 real gross domestic product (GDP) to grow at an annualized pace of 30.4%. This represents an increase from Fannie's August forecast of 27.2%. For the full year of 2020, the report projects a 2.6% contraction—representing an improvement over last month’s forecast of a 3.1% decline.

Economists React to New Construction and Mortgage Rate Reports

09.18.2020

Economists this week commented on recent New Construction and Freddie Mac reports.

Why Record-Low Mortgage Rates Could Keep Falling

09.09.2020

According to a recent post published by  the experts at Bankrate, mortgage rates are set to decline even further as fall approaches. Currently, borrowers have been blessed with record low mortgage rates (in September, the typical 30-year mortgage was hovering at just 3.10%), and it looks like they may have even more cause to celebrate within the coming months.

The State of Mortgage Applications

09.03.2020

What a difference a week can make; which in this case translates into a 2% drop off on a seasonally adjusted basis in mortgage applications from a week ago, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 28.

The Latest on Forbearance Trends

08.26.2020

As of August 10, the total number of loans now in forbearance dipped one basis point from 7.21% of servicers' portfolio volume the week before to 7.20%, according to the Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey. A total of 3.6 million homeowners are in forbearance plans, it estimates.

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