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Mortgage and real estate news this week: The end of the refinance boom?
...that was. 1. Is the refi boom winding down? The aforementioned low mortgage rates have driven a historic boom in refinancing. Homeowners have flooded lenders with applications to lower their......

State Employment Monitor: Job Growth in 41 States in September 2020 But Still Below Pre-Pandemic Levels
...states had job gains in real estate, rental, and leasing While the housing market is roaring, with the annualized existing home sales hitting 6.54 million in September, net non-farm payroll......

September 2020 Existing Home Sales Rise to 6.5 Million
NAR released a summary of existing-home sales data showing that housing market activity this September rose 9.4% from August 2020. September’s existing-home sales reached a 6.54 million seasonally......

Mortgage Rates Fall To 50-Year Low
Mortgage rates have never been lower. That's the upshot from Freddie Mac's weekly Primary Mortgage Market Survey . As of October 22, 2020, Freddie Mac reported that rates on a......

Mortgage Rates Hit Record Low—Again
...this week, averaging 2.80%—the lowest rate ever recorded by Freddie Mac. “Mortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample......

More Options in Sight for Home Buyers?
...prices jumped 14.8% last month too, averaging $311,800. But will the housing market open up to more buyers later in the fall? Realtor.com®’s Weekly Housing Report reflecting the week ending......

Paying off the mortgage won’t maximize your investment returns — but it sure feels good
...home equity is a readily available source of cheap debt, especially with mortgage rates at record lows. The idea: Borrow against your home at 3 percent, then reap more than 3 percent from your......

Maine home sales jump 23% as out-of-state buyers increase
...Masiello Group in Brunswick. Cole said demand is driven by historically low mortgage rates "combined with the allure of Maine's quality of life and response to COVID-19 from across the country......

Manhattan Real Estate Fizzles As Prices, Demand Plummets
...and looking for opportunities after sitting in their homes in lockdown.” Although mortgage rates have collapsed to the lowest level on record , falling to 2.8% on Thursday, according to Freddie......

Lack Of Competition In Bank Tech Is Costing Consumers
...and bank tech competitiveness is on their radar screen. For instance, the FDIC recently issued a request for information to get feedback on a concept to establish a standard setting and certification......

Hope Stays Alive For Stimulus: Virus Cases Continue To Swell, 10-YearYield Hits 4-Month Highs
...787,000 last week, the lowest level since the pandemic began. Existing home sales hit a home run in September, climbing 9.4% month-over-month and nearly 21% from a year ago. The Treasury market......

Current Mortgage Rates, October 23, 2020 | Rates climb
Several benchmark mortgage rates floated higher today. The average rates on 30-year fixed and 15-year fixed mortgages both moved higher. On the variable-mortgage side, the average rate on 5/1......

Ask Bankrate: Is the new 0.5 percent refinance fee here to stay?
...doing a cash-out refinance is an attractive way to do it because mortgage rates are at record lows and you might be in the market to refinance your first mortgage anyway. However, in these very......

As mortgage market calms, lenders resume cash-out refis
...uncertainty by turning off the spigot for cash-out refinances . But as the housing market has boomed in recent months, lenders have proven willing once again to let homeowners tap their equity......

Cancellation Of Debt: What To Know About Taxes When You Can’t Pay Your Bills
...than you owe. This can take a few forms, including short sales, foreclosures, or just agreeing with a credit card company to pay less than you owe if they stop chasing you for the balance. No......

Climate Point: Killings, land theft surge in Central America to feed our love of beef
...importers don't seem to be doing much about it. Flooding the housing market.  Climate change is exacerbating extreme weather, making it costlier for homeowners to keep cleaning up after major......

As Americans Remain In A Home-Shopping Binge, At-Home Trend Isn’t Likely Slowing Any Time Soon
...on the market for just 21 days in September—also an all-time low, NAR said.  "Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally......

3 reasons you shouldn't wait to refinance your mortgage
...The long-term 30-year Treasury bond is generally the barometer for 30-year fixed mortgage rates, and when those bond rates started dropping at the start of the coronavirus pandemic, mortgage......

Compass Founder & CEO Robert Reffkin Weighs In On Today’s Real Estate Market
...RR: There are a few major reasons to be bullish on the housing market into January and beyond. This pandemic, unlike other downturns, is inspiring people to move. After being stuck inside for......

FHA Extends Forbearance Options Until End of Year
...landlords from evicting certain renters nationwide for the remainder of the year. NAR has strongly urged Congress and the Trump administration to approve rental assistance so the moratorium doesn......

Homes In These Midwest Cities Are Selling The Fastest
...has spurred countless bidding wars, pushed home prices upward and made the housing market more competitive than ever. In fact, the average house last month sold in just 16 days. That’s 44% faster......

Mortgage rates fall to a record low for the 11th time this year
Mortgage rates fell to yet another record low last week, for the eleventh time since the beginning of the year. The average interest rate on a 30-year fixed-rate mortgage fell to......

Looking to buy a home? It'll cost you a lot more than a year ago
Home sales were up again in September with prices at a record high and inventory at a record low for the month. Sales of existing homes -- which include single-family homes......

Mortgage Rates Hit New Low; Here’s How Much They Could Save Homeowners Per Month
Mortgage rates have hit a record-low once again. According to Freddie Mac, the average interest rate on 30-year, fixed-rate mortgage loans is now just 2.80%, the lowest point recorded since......

Instant Reaction: Mortgage Rates, October 22, 2020
Mortgage rates fell further this week, reaching a new record low for the second consecutive week. Specifically, the 30-year fixed-rate mortgage ticked down to an average 2.80% from 2.81%......