• Fannie Mae: Mortgage Serious Delinquency Rate Increased in May

    15 days ago - By Calculated Risk

    Fannie Mae reported that the Single-Family Serious Delinquency increased to 0.89% in May, from 0.70% in April. The serious delinquency rate is up from 0.70% in May 2019.
    This is the highest serious delinquency rate since June 2018.
    These are mortgage loans that are "three monthly payments or more past due or in foreclosure".
    The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%.
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  • Economic Growth Rates Will Be Distorted The Rest Of The Year Due To How They Are Calculated

    Economic Growth Rates Will Be Distorted The Rest Of The Year Due To How They Are Calculated

    15 days ago - By Forbes

    When the Bureau of Economic Analysis or BEA releases its first estimate for the economy's second quarter growth rate it is going to look very ugly.
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  • An adjustable-rate mortgage locks in your rate for the first few years, then changes it periodically

    An adjustable-rate mortgage locks in your rate for the first few years, then changes it periodically

    15 days ago - By Business Insider

    An adjustable-rate mortgage secures your rate for the first few years of your loan, then changes the rate periodically - unlike a fixed-rate mortgage, which locks in your rate for the entire life of the loan.
    Most lenders will offer a 7/1 ARM and 5/1 ARM, but many provide more term options.
    Your ARM rate depends on a rate index, and on the margin determined by your lender.
    Because ARM rates usually start lower than fixed-rate mortgage rates, ARMs are worthwhile options for people who plan to sell their home before their rate changes.
    Policygenius can help you compare homeowner's insurance...
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