Single-family landlord giants are expecting a surge in repossessed homes as millions of homeowners have fallen behind on their mortgage payments and may be at risk of losing their homes once eviction moratoriums end. The Wall Street Journal reports that landlords are waiting for a “potential bonanza” of distressed properties as well as the emergence […]
Mortgage Credit Availability Tightest Since 2014
With the economy still entrenched in a long recovery from the effects of COVID-19, lenders continued to tighten their standards, resulting in the tightest mortgage credit availability in six years, according to the Mortgage Bankers Association (MBA). The MBA’s Mortgage Credit Availability (MCAI) Index fell 4.7% to a reading of 120.9 in August — its […]
Borrowers Eager to Lock in Rates
Mortgage rates have been up and down in recent weeks, so when borrowers saw little fluctuation last week, they jumped at a chance to lock in a rate. Home refinancers, in particular, took advantage. Total mortgage application volume rose 5.1% last week on a seasonally adjusted basis compared to the previous week. The gain was […]