Mortgage Roundup (5/11/21) – Rates, Refis & VA

ByTMN Editor Reading Time: 2 minutes

Good morning! Today is Tuesday, May 11. The first Covid-19 vaccine has been cleared for use by adolescents. The International Olympic Committee chief postponed his trip to Japan amid a spike in the country’s Covid-19 rates. Animal shelters report that people are returning pets they adopted during Covid. 

And in mortgage and housing news …

MORTGAGE RATES: The Mortgage Note reports that the share of US mortgages in forbearance decreased again this week.

DÉJÀ VU 1970’S: Inflation and rising mortgage rates will add pressure to real estate markets,  says NAR Chief Economist Lawrence Yun.

HOMEOWNERSHIP GROWTH: Houses of color are expected to dominate the homeownership growth rate. 

REFINANCE COST: How much does refinancing cost?

AFFORDABLE HOUSING: Credit scores affect affordable housing eligibility. New Jersey lawmakers consider a bill to help renters with the problem.

VA FUNDING FEE: The purpose of the VA funding fee is to sustain the Veterans Administration’s loan program for future military homeowners

REFINANCE APPRAISAL: Why you still need an appraisal to refinance your home.  

OCC CHIEF: The interim comptroller of the currency will be able to tee up policy priorities on the Biden agenda, including CRA reform and the future of fintech. 

LUXURY REAL ESTATE: While the number of high-net-worth individuals is growing faster than ever, many new luxury agents haven’t had much exposure to them, especially via luxury real estate prospecting.