Aramco Report

The Blog
Forbearance curve begins to flatten

Homeowners in the U.S. have been able to skip two mortgage payments since forbearance programs were put in place in March by most lenders. After millions of homeowners quickly arranged payment deferments with their lenders, new data from the Mortgage Bankers Association shows that the rate of those...

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Mortgage refinances set to reach 17-year high

Fannie Mae predicted this week that refinances will surge to the highest levels since 2003 as mortgage rates continue to hover near historic lows. Lenders are expected to originate $1.5 trillion in refinances this year, a 51 percent increase over last year. A Fannie Mae forecast expects mortgage ra...

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Buyers finding discounts during pandemic house hunting

As nearly all states in the U.S have entered some phase of reopening, home buyers are hitting the market again. As they do so, many should expect to see prices on listed homes marked down, some as much as 10 percent. According to a new report from Weiss Analytics, a quarter of home sellers who liste...

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FHA extends pandemic relief benefits through June

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 th...

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Report: home sales could bounce back by fall

Experts at Realtor.com made an ambitious prediction in a new report last week that home sales in the U.S. will rebound by late summer or early fall. Nearly all states in the U.S. have begun or are about to begin some stage of reopening as of mid-May. Realtor.com’s housing forecast predicted an upti...

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San Diego home sales rise as inventory tumbles

Stay-at-home orders haven’t seemed to deter homebuyers in San Diego, even as they face shrinking inventory levels and rising prices. According to data from Redfin, the number of homes for sale in San Diego County fell 31 percent from April to May. Sellers who had previously listed their homes change...

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Foreclosure filings plummet to 15-year low

A moratorium on foreclosures implemented by the federal government last month has led to a 70 percent decline on new filings from March to April. In total there were 14,148 U.S. properties with foreclosure filings against them in April, according to ATTOM Data Solutions. This is the lowest monthly f...

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Renters still making payments on time

While the number of homeowners who have put their mortgages in to a state of forebearance, renters in the U.S. appear to be staying on top of their payments. Over 80 percent of apartment households paid their rent on time for April according to The National Multifamily Housing Council’s latest Rent...

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Mortgage lenders tighten standards

The pandemic has made it increasingly difficult for borrowers to obtain a mortgage according to new data. The Mortgage Bankers Association reported last week that its Mortgage Credit Availability Index fell to 12.2 percent in April to its lowest reading since December 2014. Declines in the Index sug...

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Home prices rise during pandemic

Record joblessness, shuttered businesses and a volatile stock market are all part of an economy on uneasy ground. But in the midst of all this turmoil, home prices keep pushing higher. While some economists warn that an impact on the housing market may be on the horizon, for now it appears to be the...

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