Mortgage Roundup (5/25/21) – Refi, Costs & 800

Good morning! Today is Tuesday, May 25. The U.S. issued a warning against travel to Japan due to the country’s rising Covid cases and low vaccination rates. Amazon nears a deal to purchase MGM. The New York City schools will fully reopen in the fall with no virtual option. 

And in mortgage and housing news …

FORBEARANCE REPORT: The Mortgage Note reports that forbearance levels in the United States continued their decline in the latest report released by the Mortgage Bankers Association.

FHFA REFINANCE: FHFA’s new mortgage refinance option could cut payments by hundreds of dollars for some homeowners.

MORTGAGE COSTS: Here are the four costs that make up your monthly mortgage payment.  

DRIVING FORCES: What factors are driving mortgage rates this week.   

MAGIC 800: Do you need an 800 credit score to get great rates and other benefits?  

ROCKET NAME: Rocket Cos. is dropping the Quicken Loans name and instead will be called Rocket Mortgage effective July 31.

RED HOT MARKET: Why the real estate market continues to explode.   

RESUME PAYMENTS: It’s time for homeowners who opted to pause mortgage payments during the pandemic to start negotiating how they plan to resume paying their lenders.

INVESTOR ANGST: Although there is no indication the Fed has plans to reduce its bond purchases anytime soon, the mere suggestion of it might be enough to rattle investors and send home-loan rates higher.

EXTENDED-STAY HOTELS: When no landlord will rent to you, where do you go?