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Mortgage Delinquency Numbers Are Falling
At the beginning of the pandemic, millions of homeowners fell behind on their payments and enrolled in forbearance programs provided by the government. A year and a half later, most of the people who signed up for forbearance are now up to date on their mortgage. The delinquency rates continue to steadily improve, which experts say is proof of a strong economic recovery.
30 Year Fixed Mortgage Rate
|Change From Yesterday||-0.007%|
|Change From One Week Ago||-0.046%|
|Change From One Year Ago||-0.145%|
15 Year Fixed Mortgage Rate
|Change From Yesterday||-0.005%|
|Change From One Week Ago||-0.015%|
|Change From One Year Ago||-0.516%|
Today’s Financial Headlines
Energy efficient mortgages let you finance the cost of energy upgrades and add them to your mortgage. This strategy can be applied to new mortgages or refinances. These type of mortgages are available through conventional lenders and government programs. A EEM may allow you to qualify for a slightly more expensive home, as the energy savings from the upgrades are considered during your application.
UWMC is poised to be the first mortgage lender in the country to accept bitcoin for mortgage payments. This is the beginning of a new trend to update tech offerings in the mortgage industry. As fintech companies take a larger slice of the lending pie from conventional banks and mortgage companies, the traditionally sleepy mortgage industry is waking up to the need to provide customers with digital payment and account management tools. Expect to see more companies offering apps and new ways to pay.
Financial tech companies are booming, and they’ve taken over the mortgage industry. Unlike traditional banks, fintech companies aren’t subject to much government regulation. They often carry high debt loads and little cash value. There is little reporting available that would help determine the effect fintech lending has on redlining and other forms of mortgage discrimination. Activist groups are calling for government regulation of these new funding entities.