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NAR PULSE—Home Performance Counts is an educational initiative developed jointly by the National Association of REALTORS® (NAR) and the National Association of Homebuyers (NAHB) to help our members work together and succeed in the rapidly growing marketplace for high performance homes. Encourage your agents to visit HomePerformanceCounts.info for education programs, professional resources, research, and more!
The coronavirus pandemic has left many unemployed and, therefore, struggling to pay their mortgage. A new report from CoreLogic, shows that mortgage performance in the U.S. was improving into March, but when COVID-19 hit, unemployment reached record highs, impacting homeowners.
The mortgage space continues to bounce back amid the coronavirus pandemic, according to the latest data from the Mortgage Bankers Association (MBA). In June, new mortgage applications were up. And for the week of July 5, forbearance rates continued to post declines. Here’s the breakdown:
New Home Mortgage Applications
According to the MBA’s Builder Application Survey, in June, mortgage applications for new home purchases increased 54.1 percent YoY. Compared to the previous month, applications increased by 20 percent.