Better Mortgage Market News 4/30/20 As part of our mission to make homeownership simple, fair, and affordable, we're committed to providing the most accurate and up-to-date information available to everyone in our community. Here's what you need to know this week.
Why COVID-19 home prices are unlikely to hit 2008 levels While the national median home price has remained steady at about $320,000 over the last 6 weeks, Fannie Mae and Freddie Mac both predict a decline through the end of the year. Year-over-year price growth has already started to slow down, with prices for the week of April 12th only 0.3% higher than last year compared to 0.8% the previous week. Fed and Treasury signal that the mortgage market is healthy enough for now Delinquencies reportedly rose 3.4% in March, and 6.4% of all mortgages are currently in forbearance agreements. In spite of these trends, neither the head of the Federal Reserve nor the head of the US Treasury have indicated that they believe these problems signal an industry-wide issue for servicers and lenders — at least not yet. 120 Broadway, 5th Floor, New York, NY 10271 BETTER MORTGAGE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, PROMOTIONS AND BENEFITS AT ANY TIME WITHOUT NOTICE. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. Better Mortgage Corporation is licensed by the Department of Business Oversight under the California Finance Lender Law License No.6052748, NMLS # 330511. (www.nmlsconsumeraccess.org). Equal Housing Lender. Not available in all states. Alaska Mortgage Broker/Lender License (# AK330511); Alabama Consumer Credit License (# 22548); Arkansas Combination Mortgage Banker-Broker-Servicer License (# 114738); Arizona Mortgage Banker License (# 0942146); CA Dept. of Business Oversight - Finance Lenders Law License (# 6052748); Loans made or arranged pursuant to Mortgage Company Registration with the Colorado Division of Real Estate (# 330511); Connecticut Mortgage Lender License (# ML-330511); District of Columbia Mortgage Dual Authority License (# MLB330511); Delaware Lender License (# 026589); Florida Mortgage Lender License (# MLD1484)Georgia Mortgage Lender License (# 43354); Iowa Mortgage Banker License (# 2018-0056); Idaho Mortgage Broker/Lender License (# MBL-2080330511); Illinois Residential Mortgage Licensee (# MB.6761046); Indiana DFI Mortgage Lending License (# 330511); Kansas Mortgage Company License (# MC.0025544); Kentucky Mortgage Company License (# MC419058); Louisiana Residential Mortgage Lending License (# 330511); Maryland Mortgage Lender License (# 21438); Maine Supervised Lender License (# 330511); Michigan 1st Mortgage Broker/Lender Registrant (# FR0020971); Mississippi Mortgage Lender License (# 330511); Missouri Mortgage Company License (# 19-2462); Montana Mortgage Lender License (# 330511); North Carolina Mortgage Lender License (# L-162055); North Dakota Mortgage Broker License (# MB103296); Nebraska Mortgage Lender License (# 330511); Licensed by the N.J. Department of Banking and Insurance (# 330511); New Mexico Mortgage Lender License (# 330511); Licensed Mortgage Banker – NYS DFS (# LMB-109666); Ohio Residential Mortgage Lending Act Certificate of Registration (# RM.804430.000); Oklahoma Mortgage Lender License (# ML011933); Oregon Mortgage Lending License (# ML-5310); Pennsylvania Mortgage Lender License (# 46959); Rhode Island Mortgage Lender License (# 20183669LL); South Carolina-BFI Mortgage Lender / Servicer License (# MLS-330511); South Dakota Mortgage Lender License (# ML.05201); Tennessee Mortgage License (# 136757); Texas Mortgage Lender License (# 330511); Utah Mortgage Entity License (# 11448204); Washington Consumer Loan License (# CL-330511); Wisconsin Mortgage Banker License (# 330511BA); West Virginia Mortgage Lender License (# ML36354); Wyoming Mortgage Lender License (# 3369) This message is intended for jasonsc.bolts14@blogger.com |
Thursday, April 30, 2020
Mortgage News: COVID-19 home prices are unlikely to hit 2008 levels
Wednesday, April 29, 2020
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