Good news for the housing market

Purchase rates remain at record lows, so if your clients need a pre-approval, please have them contact us, we are happy to help.

Many are daydreaming about homeownership, so much so that last Thursday Zillow had record daily users on its app, 2.17 million to be exact! With mortgage rates at record lows, now is a great time to purchase for those app users who want to move forward. In addition, many economic experts predict a 20% GDP growth in the third quarter of 2020. Despite all of the uncertainty, now is a great time to move into homeownership. Now where are all the homes for sale…?

More good news for housing markets, mortgage forbearance has dipped to its lowest since April. Of those who were in forbearance only half have opted to extend it. Given the equity of current homeowners, it is predicted that fewer of them will be impacted by current economic circumstances than were in 2009. Thus, If you are interesting for home refinance rates in USA then contact to us!

Finally, you may have heard that last week Fannie Mae and Freddie Mac announced an additional 50 basis point fee on all refinances effective September 1st. Those of us in the industry have been quick to react, with a joint statement being issued from twenty-two leading agencies and organizations including the National Association of Realtors® urging the FHFA to withdraw the directive. The housing market is helping the economic rebound, and we want to encourage that and avoid any undue burdens on struggling home owners.

Now, If you want to more about Fairway Mortgage Reviews then click https://www.fairway-newengland.com

Ref.Source: https://www.fairway-newengland.com/blogs/good-news-for-the-housing-market

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