Mortgage Rates Newsletter - Market Analysis

Provided courtesy of: http://www.mortgagenewsdaily.com/reports/mortgage_rates/archive

Huge Housing Rebound, All-Time Low Rates, But At What Cost?
Thu, 02 Jul 2020 19:29:39 GMT - This week's economic data included the biggest-ever gain in Pending Home Sales, a leading indicator for the housing market. Meanwhile, mortgage rates pushed down to new all-time lows yet again. But at what cost? The most pessimistic way to explain the surge in home sales is to say it was only made possible by the record-setting declines in the past few months. That's mostly true, but it fails to give credit to what the industry and government officials have been doing to help jump start economic activity. Would sales bounce back like this without all-time low mortgage rates and a stock market recovery (both made possible by emergency intervention from the Federal Reserve)? Would consumers be as comfortable spending money without the promise of additional fiscal stimulus and other support programs
Rates at All-Time Lows Ahead of Important Jobs Data
Wed, 01 Jul 2020 21:04:04 GMT - Mortgage rates were generally unchanged today, thus leaving the average lender at all-time lows for conventional 30yr fixed scenarios. It continues to be the case that loan scenarios with additional risk factors have NOT seen nearly as much improvement as those in the top tier. In general, however, things are starting to improve. When coronavirus rocked the financial markets in March, mortgage rates were particularly hard hit. This had a lot to do with the anticipated inability of millions of homeowners to make their mortgage payments. While the government and the mortgage industry rushed to put programs in place to help those homeowners, there were/are unavoidable consequences for mortgages in the eyes of investors. Simply put, each additional risk factor that makes forbearance (a temporary
Mortgage Home Loan

Mortgage Home Loan

the charging of real (or personal) property by a debtor to a creditor as security for a debt (especially one incurred by the purchase of the property), on the condition that it shall be returned on payment of the debt within a certain period.

Home ownership is something many Americans just like you strive for. It can be a rewarding experience that helps you achieve both personal and financial goals.

mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise funds to buy real estate; by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property. This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a "French Law" term used by English lawyers in the Middle Ages meaning "death pledge", and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.[1] Mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan).

If you already own your own home, you understand the value and security property ownership brings. Because your home is an investment you're paying off over time, you may have already accrued valuable equity in your property. Often, that equity can be leveraged to improve your home, improve your lifestyle, or help you realize other dreams you may have.

While mortgage rates continue to be at historic lows, there's never been a better time to buy.

If this is your first time buying a home take comfort knowing that we will provide you with all the information, sound advice, and assistance you need, every step of the way. Let us help you understand the options available to you at this important stage in your life.

If you would like to be kept up to date on current mortgage rates and home ownership news, please fill out this simple online form with your details and click submit, and I will email you current mortgage rates in your area and will also provide you with mortgage solutions that best suits your requirements.

 

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