Federal housing agencies and government-sponsored enterprises Fannie Mae and Freddie Mac are responding to the COVID-19 outbreak with multiple relief programs for homeowners experiencing hardship due to illness and job loss. 60-Days Forbearance on Home Mortgages Owned or Backed by Fannie Mae or Freddie Mac Many U.S. home loans are owned or guaranteed by Fannie Mae or Freddie Mac. Homeowners can determine if your loan is connected with Fannie Mae here.here. Please check here to check if your … [Read more...]
What’s Ahead For Mortgage Rates This Week – April 6th, 2020
Last week’s economic reporting included readings on pending home sales, Case-Shiller Home Price Indices, and Bureau of Labor Statistics reports on national unemployment. Weekly readings on mortgage rates and first-time jobless claims were also released. Pending Home Sales Slow in February Before Coronavirus Took Hold The National Association of Realtors® reported fewer pending home sales in February as the coronavirus gained traction. Pending sales rose by 2.40 percent in February as … [Read more...]
The Department Of Veterans Affairs Is Allowing Drive-by Appraisals Because Of COVID-19
The COVID-19 (Coronavirus) pandemic has impacted every industry across the country. Many people are being asked to shelter in place and everyone has been asked to practice social distancing to try to curtail the spread of this deadly virus. The Federal Housing Finance Agency (FHFA) has asked both Freddie Mac and Fannie Mae to make some changes in the manner they conduct property appraisals and employment verification. Shortly after the move by the FHFA, The Veteran's Administration (VA) and … [Read more...]
Case-Shiller: January Home Price Growth Strong; Pandemic Impact Unknown
United States home prices increased by 3.90 percent year-over-year in January as compared to December’s growth rate of 3.70 percent according to Case-Shiller’s National Home Price Index. Home prices also rose in Case-Shiller’s 20-City Home Price Index. 20-City Home Price Index: Phoenix Arizona Leads in Home Price Growth The Case-Shiller 20-City Home Price Index is followed closely by real estate pros and its trends are used to gauge home price growth within cities included in … [Read more...]
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