2020 brought a lot of new realities into our lives – one of them being ultra-low mortgage rates.
With national mortgage refinancing rates hovering at record lows, many millennials have been taking action to lower their monthly payments and see significant savings long-term. According to the latest *Ellie Mae Millennial Tracker, refinance activity climbed to 45% of all loans closed by millennial borrowers Read more
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
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.
