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HE NEW MORTGAGE PROTECTION FOR THOSE IN FORBEARANCE A brand new proposal issued by the Consumer Financial Protection Bureau, is expected to kick in by August 31st of this year (open to public comment). It lays out new rules which mortgage servicers must follow. Here’s a quick rundown: 1. Available for primary residences only 2. […]

CFPB TELLS LENDERS THAT THERE WILL BE A “TIDAL WAVE” With the federal foreclosure moratorium expiring in June, the Consumer Financial Protection Bureau (CFPB) says that mortgage servicers should gear up for an expected surge in homeowners needing assistance. With millions of homeowners currently in forbearance, the CFPB Acting Director Dave Uejio issued a warning […]

RISING INTEREST RATES, INFLATION AND HOUSING PRICES The days of 2-something percent 30-year fixed-rate mortgages look to be behind us as interest rates between 3.4 and 3.5% are expected by year’s end. But why should home owners care about rising interest rates? As a general rule of thumb, rising interest rates depress housing prices due […]

A RECORD OF 36% OF HOMES SOLD ABOVE THEIR LIST PRICE IN FEBRUARY. Our seller’s market shows no signs of slowing down as rising interest rates continue to drive buyers into a FOMO (Fear of Missing Out) frenzy. This historic competition, coupled with 16% fewer new listings in February, has pushed sale prices up 14%. […]