Please click below to watch this week’s update which includes information on current interest rates, the stock market rally, and an update on mortgage forbearance:
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Current Outlook: floating
Category: Rate Update
Mortgage rates hold steady, a guess at unemployment rate, and credit tightens further
Please click below to watch this week’s update:
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Current Outlook: floating
Forbearance continues to constrict availability of credit
Please click below to watch this week’s update which includes information on current interest rates, an explanation of the ill effects of forbearance, and an outlook for home prices:
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Current Outlook: floating
Interest rate tick higher, mortgage forbearance causes credit squeeze
Please click below to watch this week’s update which includes information on current interest rates and an update on the mortgage forbearance relief law:
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Current Outlook: neutral
Can unemployment benefits be used to qualify for a mortgage?
I hope this video is helpful. Please feel free to share with others!
Mortgage rates level out but credit requirements tighten
Please click below to watch this week’s update which includes information on current interest rates, volatility, changes to Jumbo loan programs, and the employment picture:
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Current Outlook: floating
Mortgage Forbearance relief and how it is impacting consumers
My Neighbor’s House
My neighbor put their house on the market at the beginning of March for $700,000 and due to the COVID-19 outbreak has had very little traffic. Over the weekend, just when they thought there was no hope of selling their home a group of pranksters teepeed their house. Now they are under contract for $5.7 million!
(I thought a little real estate humor may help boost your spirit today!)
Conventional & Government Rates Diverge
Conventional mortgage rates are mostly unchanged from last week but government interest rates have spiked! There is less investor appetite for government loans at this time because it is perceived that the performance of these loans given the current economic conditions will be difficult. The assumption is that a greater number of FHA, VA, and USDA borrowers will request forbearance relief which hurts the mortgage servicing entity. Speaking of forbearance…..
Forbearance
Have you heard from any of your past customers regarding forbearance options? If not, I can almost certainly guarantee you will in the coming days. In this week’s video I provide a summary of what I think consumers should consider when making a decision regarding forbearance options.
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Current Outlook: floating
Mortgage rates back down to all-time lows
After increasing to multi-year highs at the tail end of last week home loan rates have started the week back down to all-time lows. Watch this weeks video which includes an update on mortgage rates, my outlook on housing prices, and some initiatives that Fannie Mae is taking to help support homeowners and the housing industry:
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Why mortgage rates are increasing in the face of massive stock declines
Under normal circumstances we expect mortgage rates to improve when stocks decline. You can CLICK THIS LINK to learn why.
However, as we can all attest these are anything but normal circumstances. Despite the US stock market experiencing some of the biggest sell-offs in history mortgage rates are actually increasing off all-time lows. Why the change in dynamic between stocks and home loan rates? I have recorded a special video to explain the four factors which are turning the relationship upside down:
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A special video Rate Update
Given the extraordinary circumstances we are currently experiencing I have prepared a special video ‘rate update’ for today.
Please take 4 minutes to watch this special message below:
Current Outlook: Floating