Some lenders are now offering a 15 year fixed rate mortgage at 1.99%, but with 2 points cost, making this a great time to sell or refinance.
Home sellers in the second quarter of 2020 saw big gains across the board.
But at what expense are we seeing all of these large profits and unusually low interest rates?
COVID-19 has taken the lives of nearly 150,000 Americans and made millions sick, along with putting many millions of Americans out of work, throwing millions of homeowners into forbearance, and tanking the economy.
“Unpaid mortgages can quickly reduce national home equity. Lenders have already advanced $6.9 billion of mortgage and escrow payments to investors.
Business bankruptcy attorney Richard Golubow of Winthrop, Golubow, Hollander expects an avalanche of business bankruptcies after the November presidential election.”