Demand for mortgage bailout slows to a trickle despite continuing coronavirus fallout
Despite record-high unemployment and massive economic fallout from the coronavirus pandemic, fewer homeowners appear to be struggling to make their monthly mortgage payments now than at the start of the crisis.
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U.S. Mortgage Rates Tumble to a Record Low for 30-Year Loans
U.S. mortgage rates fell to a record low for the third time since the coronavirus started roiling global markets. The average for a 30-year fixed-rate loan was 3.15%, down from 3.24% last week and the lowest in Freddie Mac data going back to 1971.
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Homebuying surges as mortgage rates and home prices plummet
Homebuyers are coming out of coronavirus isolation and are swarming back into the housing market, lured by falling house prices and some of the lowest mortgage rates ever seen.
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With interest rates expected to stay low, who needs a mortgage rate lock?
A mortgage rate lock protects a borrower from rising interest rates while a new mortgage or refinance is being processed, which these days can take weeks to even months. But the calculus for borrowers has changed during the pandemic. Interest rates have plummeted and many experts believe they will either stay low or go lower still in the coming months.
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New digital lender Beeline promises purchase-ready approvals in 15 minutes
Beeline, a new digital lender that launched just last week, is applying AI to streamline the application process so that it will only take 15 minutes to apply for a loan.
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The Mortgage Godfather: The Evolution Of Fintech
Laws, rules and regulations prevent documents from being signed electronically in many states. Notarization in some states still requires a face-to-face presentation in order to complete a mortgage closing. When are we going to catch up and become part of the 21st Century?
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R.I. Supreme Court rules title insurance companies can do real estate closings
While emphasizing the value of homebuyers having a lawyer at their side during a real-estate closing, the state Supreme Court left the door open for title insurance companies and their agents to continue the longstanding practice in Rhode Island of conducting closings, but with some limitations. The court, however, concluded that a title insurance company may conduct an examination of title for marketability only if a licensed attorney undertakes the examination to best protect the interests of buyers.
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