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What's Going On With The Mortgage Market June 2020

What's Going On With The Mortgage Market June 2020

Well it’s been almost three full months since the Covid-19 Crisis struck here in the US and in particular, in California.

A lot has transpired in the world of mortgages. It’s been pretty daunting to keep up on all the changes but we’ve done our best to stay up-to-date and to keep you up-to-date by our weekly newsletter (Click here for the latest and to be added to our newsletter if you are not already a subscriber).

Interest rates have dipped and now hover in the very low 3’s for 30 year fixed and in the 2’s for 15 year fixed rate loans, the lowest I have seen rates in my 30+ years of arranging home loans. Click here for a history of where 30 year fixed rates have been since 1971.

Lenders are most certainly making loans, including cash out refinances and of course purchases, and as you might imagine, it’s been busy.

There has even been some concession made by Fannie Mae for borrowers who are in forbearance.

Let me know any and all of your questions and I will do my best to get you the answers you need.

In the meantime, stay safe and well!