The Federal Housing Administration announced last week that it would be extending a variety of pandemic-related benefits and operating conditions through the end of June including relaxed appraisal requirements and a moratorium on foreclosures.
“We made it clear at the beginning of this pandemic that no American should have to worry about losing their home amidst a crisis,” said Ben Carson, Secretary of the U.S. Department of Housing and Urban Development. “[This] announcement ensures that commitment.”
The extension allows lenders and appraisers to continue curbside or virtual assessments of homes to minimize contact and maintain social distancing. Evictions on renters and foreclosures on homeowners will also continue to be put on hold.
Today, conforming no-point 30-year fixed mortgage rates are averaging 3.375 percent and 15-year rates are near 2.75 percent.
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