Here's what you need to know this week
| June 18, 2020 | | | Mortgage News | | | 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. | | | |
| | Mortgage rates still at record lows amidst mixed economic news | | | The Federal Reserve announced last Wednesday that, on top of their continued commitment to supporting market stability by purchasing bonds, they intend to keep their benchmark interest rate near 0% for an extended period of time. Market watchers project this rate will stay in effect through 2022. | | | | | | |
| | Affordable access to home equity could keep homeowners afloat | | | During the economic turmoil caused by COVID-related lockdowns, many homeowners are struggling to make ends meet. But given that the amount of home equity in the US has hit $6.2T, homeowners may have a reliable safety net. Read more | | | |
| | Home builders' confidence in the market soars | | | With tight inventory and increasing demand from homebuyers, confidence in the market for new home construction jumped 37 points this week, bringing the index well into healthy territory. This bodes well for the recovery of the housing market, as well as availability of new homes for those looking to buy while mortgage rates are low. | | | |
| | Better.com makes CNBC's Disruptor 50 list | | | Out of nearly 1500 companies who were considered for CNBC's Disruptor 50 list for 2020, Better.com ranked above industry leaders like Lemonade, Affirm, Chime, Airbnb, and Robinhood to secure the #15 spot. Read more. | | | |
| | More on Mortgages | | | | | | For more on homebuying, homeownership, and how mortgages work, visit our resource center any time. | | | | | Questions about your mortgage application? Let's talk.
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