A woman passes by the United States Capitol building in Washington on June 25, 2020. Al Drego | Reuters After declining for three weeks, the number of borrowers who deferred their monthly mortgage payments due to the coronavirus increased once again. The number of active tolerance plans increased by 79,000 …
Read More »
Mortgage rates held at record lows for the second straight week, which could present an opportunity for some homeowners to increase their emergency funds. The 30-year fixed-rate mortgage averaged 3.13% for the week ending June 25, unchanged from the previous week, Freddie Mac FMCC, + 0.47% reported Thursday. Comparatively, these …
Read More »
On Thursday, the Federal Reserve voted in favor of requiring large banks to preserve capital by suspending share buybacks and dividend payments in the third quarter. In a 4-to-1 vote, the Fed will tie dividend distribution to a formula based on recent earnings. The formula establishes the third quarter dividends …
Read More »
The coronavirus pandemic has led to a dramatic decline in mortgage rates. But that doesn’t mean that now is a good time to refinance for everyone. Last week, Freddie Mac FMCC, -0.94% It reported that mortgage rates hit a new record low for the fourth time this year, with the …
Read More »
Mortgage rates held at a record low last week, but the demand for refinancing fell back anyway. That, in addition to a brief respite from the surprisingly strong demand from home buyers, caused the total volume of mortgage applications to drop 8.7% on a seasonally-adjusted basis from the previous week, …
Read More »