What does this mean? Well you can expect a flurry of housing activity, particularly in the refinancing sector, as homeowners around the nation capitalize on the historically low rate.
Encouraging news to all home sellers! Buyers are rapidly returning to the housing market, despite uncertainty due to coronavirus.
For the first time since March, the total number of mortgage loans in forbearance has decreased to 8.48% from the previous week of 8.55% (Mortgage Bankers Association). Currently, there are 4.2M homeowners with forbearance plans.