Reverse mortgages can be a source of cash during tough time

Reverse mortgages can be a source of cash during tough time

Homeowners in need of fast cash during the coronavirus pandemic need not look any further than their own homes. In particular, those age 62 or older have the option of using their home’s equity to eliminate their regular monthly mortgage payment altogether and receive some much-needed cash during an...

Read More
Fannie and Freddie allowing mortgage deferment

Fannie and Freddie allowing mortgage deferment

With a record-shattering number of new applications for unemployment benefits reported this week, the nation’s largest mortgage lenders are offering borrowers in economic hardship the opportunity to defer monthly payments for some time. Fannie Mae and Freddie Mac announced that they will be allowin...

Read More
Mortgage application volume craters

Mortgage application volume craters

The volume of mortgage applications in the U.S. nosedived last week as the pandemic shook households and the economy. As many businesses across the nation were instructed to close their doors and people self-isolated in their homes, mortgage rates also began a wild rollercoaster. The Mortgage Banke...

Read More
February new home sales near 12-year high

February new home sales near 12-year high

In the final month before the global pandemic shook the world, the economy and the housing market, new home sales in the U.S. were sitting comfortably near record highs. Despite a 4.4 percent decline in February, sales of newly built homes remained at their second highest rate in 12-years, dropping...

Read More
Housing market in turmoil

Housing market in turmoil

A look back on experts’ predictions of the 2020 housing market made at the end of last year is proving to be a nostalgic trip down memory lane. Real estate agents, builders and lenders all anticipated a strong start to the year with pent up demand for housing being released as new homes came online...

Read More
February existing home sales hit 13-year high

February existing home sales hit 13-year high

Experts thought it was going to be a strong start to 2020, particularly as they observed home sales in the U.S. climb even ahead of the spring home buying season. In fact, new data from The National Association of Realtors shows that sales of previously owned homes in the U.S. hit its highest monthl...

Read More
Eviction bans under review in Calif.

Eviction bans under review in Calif.

In the wake of mass layoffs as California works to stop the spread of the virus, California lawmakers are working overtime to pass legislation that would temporarily halt evictions for renters facing economic hardships. Los Angeles, Culver City and San Francisco have already put such measures in pla...

Read More
Freddie Mac put moratorium on evictions

Freddie Mac put moratorium on evictions

Mortgage giant Freddie Mac is putting in place measures to protect homeowners facing challenges due to the ongoing pandemic. It was announced last week that it would be suspending all evictions of borrowers living inside bank owned homes as well as halting the sale of foreclosure properties in its p...

Read More
Homebuyers unshaken by stock market volatility

Homebuyers unshaken by stock market volatility

For the majority of families that hope to buy a home at some point in the next 12 months, the shake up in the stock market seen over the last few weeks has appeared to have a minimal impact on their plans. About 70 percent of homebuyers have reported in a recent survey conducted by Redfin that volat...

Read More
Mortgage rates move sharply higher after bond sell-off

Mortgage rates move sharply higher after bond sell-off

Mortgage rates shot up this week as demand for refinances remained strong despite volatility in the stock and bond markets. The increase in home loan borrowing costs is a major reversal from last week when rates hit an all-time low. While the Federal Reserve announced a second emergency rate cut la...

Read More