Mortgage Rates Move Lower Again
The average 30-year, fixed-rate mortgage dropped to 2.9% from last week’s 2.98% in Freddie Mac’s weekly survey. The 15-year loan and ARM rates also declined.
Experts Say Foreclosure Spike Unlikely as Owners Exit Forbearance
Mortgage bankers say most (77%) homeowners in forbearance already have a payment plan in place – and many who don’t will likely sell rather than go through foreclosure. For most sellers, high home prices will allow them to pay off the mortgage and not even ding their credit scores.
FHA and VA Buyers Struggle to Compete in Today’s Market
Only 30% of sellers are OK with a VA or FHA loan because buyers can’t easily forego things like inspections to compete – plus the home appraisals often come in low.