Rate
Borrowers are Exiting Forbearance at an Increased Rate
For the moment at least, the number of loans in forbearance are heading downhill and picking up speed. Black Knight says the number of active plans declined by 135,000 over the past month (-5 percent), 19,000 (-0.7 percent) occurred in the last week alone. As of March 23, there were 2.57 million loans remaining in […]
Stark Contrast: Refi Records in February vs Interest Rate Carnage Since Then
Despite your thoughts on the term “fake news,” we have to talk about it in the context of mortgage rates . It’s highly pertinent, even if deception is far from the intention. Thursday is a big day for mortgage rate news because that’s when Freddie Mac’s weekly mortgage rate survey is published. Why does that […]
The Real Story Behind The Past 2 Weeks of Mortgage Rate Volatility
It was easy to get lulled into complacency by the second half of 2020 when it came to mortgage rates. Even as other indicators said rates should be rising, they continued on a calm journey to multiple record lows. 2021 has been very different so far! Covid and its impacts on the economy remain the […]
Forbearances Decrease by 4%; CFPB Goes After VA Lenders; Strong Case For Locking a Rate
The number of homeowners with mortgages in COVID-19 related forbearance plans dropped during the week ended September 1 after several weeks when there was little change. Black Knight said its weekly survey found 147,000 fewer borrowers in plans than the previous week, a decline of about 4 percent. The company says last week’s decrease means […]
The Rate Also Rises
Posted To: Mortgage Rate Watch Years from now when scientists examine mortgage rates in July 2020, they’d be forgiven for coming to the conclusion that rates only ever move lower. As we’ve learned in the first week of August, rates also rise. To be fair, there were a few days in July where more than […]