April 13, 2021

MP Now News

Mortgage News

Mortgage And Real Estate News This Week

It promises to be a great holiday weekend in much of the country, so we will run this summary quickly so you can enjoy the weather and nature as much as possible.

1. The valuation gap keeps black families poorer

Majority black neighborhoods often have lower property values ​​than majority white neighborhoods, and black owned homes can be undervalued even in more mixed neighborhoods. As a result, home Assessments can serve to prevent black families from building intergenerational wealth. Concerted political efforts are required to make the housing market fairer.

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2. Real estate markets that make you turn around

In the midst of an ongoing historic housing shortage, the real estate market is tighter than ever. For savvy real estate investors, this can be a great opportunity Turn houses over and make profits. Last year, Memphis, Camden, New Jersey, and Baltimore were among the most popular cities for flipping real estate.

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3. What rising mortgage rates mean for refis

As a mortgage rate Go upfewer people will benefit from refinancing their mortgages. Most experts assume that interest rates will rise steadily this year and quite quickly by historical standards. That said, you want to take advantage of the low prices while they are in effect, in case you haven’t already.

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4. Why FHA Mortgages are Declining in Popularity

To be competitive, many conventional lenders are making their mortgages more attractive to low-income buyers by lowering down payment requirements and PMI rates. The result is that FHA loan programs have seen a decline in applications.

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5. Everything you need to know about foreclosure

First and foremost: You are not in danger of being excluded anytime soon. President Biden extended the coronavirus foreclosure moronium until the end of June. However, if you are very behind on your mortgage and are concerned about getting back on track, it might be a good idea to familiarize yourself with the mortgage process – and Alternatives.

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