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What's Going On With The Mortgage Market April 2020

What's Going On With The Mortgage Market April 2020

It’s been just a little over a month since the Covid-19 situation turned our entire world upside down.

The Mortgage Market is no different.

The good news is that we are still able to provide mortgage financing for many borrowers.

Things are taking longer than they would under normal circumstances but with a little patience many borrowers still qualify.

Interest rates have leveled off and remain in the low to mid 3’s for many types of 30 year fixed rate loans. See our 30 year fixed rate history here

With the help of Fannie Mae and Freddie Mac along with the FHA and VA, many lenders have made accommodations for challenges with appraisals. These accommodations allow appraisals to be conducted without the need for the appraiser to enter the home in many situations.

Things are changing on a daily basis and we’re doing all we can to make sure we’re informed and here to help.

Let us know if we can help you in any way and in the meantime I hope you all stay safe and well!