With most of the USA on lockdown due to the Coronavirus pandemic, according to the Mortgage Bankers Association (MBA) mortgage application activity remains strong in early March.
Mortgage Activity Remains Strong During Coronavirus Outbreak
Notary Near You Blog
The Impact of Coronavirus on the Housing Market
There is a multitude of information on every media outlet about the coronavirus impact on our lives and businesses. And there is a lot of misinformation included in some of what we are reading and hearing.
Refi Applications Hit Seven-Year Highs
According to a February 12, 2020 article, written by Jann Swanson for Mortgage News Daily, “Refinancing was up for the third straight week, adding 5 percent to that index which is now 207 percent higher than on an annual basis. The share of applications that were for refinancing grew to 65.5 percent; 1 percentage point higher than the prior week.”
Interest Rates are at Historic Lows
Mortgage rates were low in January and continued to fall to historic lows in February. According to many sources, now is a great time to refinance a home, or get a great mortgage on a home purchase.
Rate Cut May Be Coming
The professional mobile notaries at Notary Near You have chosen a career in the Real Estate industry, so we spend time researching current trends that may affect our customers.
How Builders are Courting Millennials to Buy
Millennials have a different approach to life than previous generations, including how they view the home buying process.
Mortgage Rates React To Strong Jobs Report
According to an article by Matthew Graham for Mortgage News Daily, “the jobs report has a more consistent track record of causing big market movement than any other piece of economic data”. He further states “the underlying bond market improved throughout the day and held onto that improvement, resulting in lenders offering lower rates”.
Home Purchase Sentiment Index on the Rise
Fannie Mae’s November National Housing Survey rose 11 percentage points to a net of 32 percent, 9 points higher than in November 2018 and its highest point since March 2018.
Millennial Home Refinance Boom Reaches New Heights
With interest rates dropping, and home values increasing, millennials have taken action and are a driving force in the home refinance market.
2020 Housing Forecast Still on the Rise
Want a peak into the 2020 housing market? An article from CalculatedRiskBlog.com provides a convenient table that combines 2020 housing forecasts from Fannie Mae, Freddie Mac, and NAHB.