Even top experts fumble on mortgage rate predictions because their rise and fall is based largely on investors’ attitudes, which can turn on a dime. Currently, investors fear possible inflation – the enemy of Treasury bonds. And as bond investment falls, mortgage rates (often) go up.
Cash carries weight during bidding wars, so Opendoor says it will back a mortgage-approved seller’s offer with cash to help give them an edge in a bidding competition.
Fed Chair Powell said Thursday that they had no plans to hike interest rates amid signs of an economic recovery. He expects inflation to accelerate but not cause a problem.
Lenders don’t always adhere to a contract’s timelines, and buyers offering a quick close in a bidding war may want to make sure their lender has their back.
A job can help homeowners in forbearance and allow renters to repay rent. In Jan., the U.S. added only 166K jobs, and Feb.’s robust 379K jobs exceeded expectations.
More Fla. homeowners are relying on the state’s “insurer of last resort.” Citizens says it’s financially sound for now thanks to investment income that has outpaced operating losses, but at the current rate, a future disaster will again force taxpayers to make up some of its expenses.
At an average 3.02% for a 30-year, fixed-rate mortgage, this week’s slightly higher rate carries psychological impact. One year ago, the average FRM was 3.29%.
More Fla. homeowners are relying on the state’s “insurer of last resort.” Citizens says it’s financially sound for now thanks to investment income that has outpaced operating losses, but at the current rate, a future disaster will again force taxpayers to make up some of its expenses.
Chicago Realtors kicked off the month with a five-part series. “You’re not a leader if you’re not paving a path,” Rev. Courtney Clayton Jenkins told the virtual crowd.
While the vaccine rollout and an unemployment-benefit drop signal better times ahead, it didn’t help much to boost attitudes in Feb., and all components saw a decline.