mortgages

US home sales rose at a record pace for a second straight month in July and home prices hit a record as historically low interest rates boosted demand for homes even as the coronavirus pandemic put millions of people out of work. The National Association of Realtors said on Friday existing home sales rose 24.7 …

US applications for home mortgages jumped last week, in a sixth straight weekly increase, suggesting the housing market could lead the economy’s recovery from the novel coronavirus crisis even as high unemployment is expected to linger. The Mortgage Bankers Association said on Wednesday its seasonally adjusted Purchase Index increased 8.6 percent from a week earlier. …

Fewer Americans are calling their mortgage servicers to ask for relief from mortgage payments, but the housing industry isn’t out of the woods yet. More than 4.1 million homeowners are in forbearance plans now, according to the latest data from the Mortgage Bankers Association. While mortgage servicers are still facing stress because of the record …

As I mentioned a few columns back, people are going to have trouble paying their mortgages under “forbearance” plans. They won’t be able to come up with, say, three months’ worth of delayed mortgage payments all at once when this crisis is over. Fannie Mae, which owns most of the mortgages in this country, put …

Let’s say you own a house and have a mortgage. And you’ve been laid off, furloughed, had your pay cut or your hours reduced at work because of the coronavirus panic. You are in a jam. So you are hoping for what is called “forbearance” on the mortgage payments, which in simple terms means your …

Wells Fargo’s sprawling back offices in India, struggling to process residential mortgage deals amid a coronavirus lockdown, may be the next black eye for America’s beleaguered third-largest bank, mortgage lenders familiar with the matter told The Post. At stake, they claim, is a frozen pipeline of funding, potentially as much as billions of dollars destined …