According to Attom Data Solutions 17.8 million residential properties were considered equity-rich in Q4 of 2020.
To put this into perspective, that is one in three of the 59 million mortgaged homes nationwide now considered equity-rich. Equity-rich means that the combined estimated amount of loans secured by these properties was 50% or less of their estimated market value. A continuous rise up from 28.3% the previous quarter and 26.7% the year before. Read more
The Mortgage Bankers Association has reported that after two weeks of decreases in mortgage applications, applications just increased 1.1% during the week of December 6-11, 105% higher than this same week one year ago. Mortgage rates have now set a 15th record low for 2020. Read more
Mortgage rates have hit a record low for the 14th time this year, encouraging even MORE borrowers to seek out lenders and refinance their home loans. Read more
There has been a record $1.1 trillion in first lien originations in the second quarter of 2020 alone. These record breaking numbers have tested mortgage professional’s capacities in ways they haven’t seen before, but Read more
With mortgage rates plummeting so quickly, millions of homeowners could benefit from refinancing their home. The average rate on the 30-year fixed mortgage fell to a record low of 3.29%, Freddie Mac reported this week. That’s down from the previous low of 3.31% in November 2012, in the wake of the financial crisis.
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