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Thread: HOME MORTGAGE RATES FALLING- REFINANCE?

  1. #13

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    Default Re: HOME MORTGAGE RATES FALLING- REFINANCE?

    Good Dawg!

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  3. #14

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    Default Re: HOME MORTGAGE RATES FALLING- REFINANCE?

    Waiting ONE DAY and look what those USAA rates did!!

    IMG_6784.JPG

    Talk about WILD SWINGS!!


    Sent from my iPhone using TSP Talk Forums

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  5. #15

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    Default Re: HOME MORTGAGE RATES FALLING- REFINANCE?

    What are the potential implications if the mortgage industry collapses? Are we looking at another housing crisis where home values plummet, or is this different?

    11:47 am: Coronavirus mortgage bailout: ‘There is going to be complete chaos,’ says industry CEO

    A broad coalition of mortgage and finance industry leaders on Saturday sent a plea to federal regulators, asking for desperately needed cash to keep the mortgage system running, as requests from borrowers for the federal mortgage forbearance program are pouring in at an alarming rate.
    The Cares Act mandates that all borrowers with government-backed mortgages—about 62% of all first lien mortgages according to Urban Institute—be allowed to delay at least 90 days of monthly payments and possibly up to a year’s worth.
    Those payments would then have to be made at a later time through a payment plan. Servicers are granting the payment deferrals to borrowers with no questions asked, as is required by the law, but the servicers still have to pay mortgage bond holders.
    In normal times, they have enough to cover these payments, and, in fact, at the end of last year the mortgage delinquency rate was near a record low, according to CoreLogic. Now that rate is skyrocketing, and servicers do not have nearly enough cash to cover those payments to bondholders. —Diana Olick

    https://www.cnbc.com/2020/04/06/coro...e-updates.html

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