Borrowers opt for permanent rate buydowns amid affordability challenges
Affordability still remains a challenge for many borrowers, many of whom are turning to permanent rate buydowns.
Affordability still remains a challenge for many borrowers, many of whom are turning to permanent rate buydowns.
An article published Monday by Bloomberg showed that FHA mortgages have hit the highest delinquency rate since 1979. Another article claimed that HUD officials plan to extend the foreclosure moratorium until 2021. Listen to todayâs State of the Market for more details on both of these stories and some additional insight on current foreclosure statistics. Other news covered includes the 2020 San Francisco exodus and updates on NARâs antitrust lawsuit.
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Mortgage rates expected to fall to 5.4% by late 2023, banking group projects CNN
The fate of FHA-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who are seeing early warning signs of distress.
Last August, President Biden announced his plan to forgive between $10,000 and $20,000 in student debt to individuals who make less than $125,000 a year. He also extended the pause on making student loan payments until at least midsummer. Who could object? Turns out, a lot of folks objected. The NAACP didn’t think Biden’s plan was generous …
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The housing market recession we’ve seen this year is significantly different than 2008. Here’s what you should pay attention to.
It sounds like we just hit the housing recovery trifecta, all in one stellar news day. The 30-year fixed fell to its lowest point on record, 3.34%, according to the latest survey from Freddie Mac. Thatâs down from 3.40% last week and 4% a year ago, not that those prior high mortgage rates were a [&hellip
The post Mortgage Rates, Delinquencies, and Negative Equity All Drop first appeared on The Truth About Mortgage.