The increase follows a decline earlier in February that cut the number of homeowners in forbearance plans to less than 2.7 million, the first dip below that threshold since April 2020.
“The consistent decline in serious delinquency since August is a sign of growing financial stability for families,” said Frank Martell, president and CEO of CoreLogic.
The trend of purchasing a second home has sent home prices in seasonal towns skyrocketing in value by 19% for the year ending December 2020.
The ad is part of their national brand campaign, Believe You Will, which encourages the power of positive thinking and believing you can accomplish your goals.
This means homebuyers will be able to borrow up to the new level without triggering higher interest rates.
“Buying a home, for most people, is the biggest financial decision of their lives. I am honored and humbled every single time someone trusts me to guide them through this milestone.” — Holly Walther, The Holly Walther Lending Team
Economists with the Mortgage Bankers Association predict mortgage rates will remain low for the next couple of years, though there is at least one scenario under which they could rise more quickly.
Both the way appraisers approach their work and the adoption of AVMs and other technology-based valuations will likely see major changes in the coming years, according to experts.
Some homeowners worry that, after a few months of forbearance, they’ll be required to pay everything they owe upfront, in one lump sum.
A new Marcus & Millichap report calls on multifamily owners and operators to implement a 90-day moratorium on evictions.