Housing Wire
MARCH 24, 2023
These rates remain slightly elevated compared to pre-pandemic levels due to forbearance programs that were offered to borrowers during the pandemic, the FHFA said. Q4 also saw an increase in foreclosure starts during Q4, which rose 8% to 18,693, though third-party and foreclosure sales dropped commensurately by 8% to 3,297 in the same period.
Housing Wire
JUNE 26, 2023
“[T]otal refinance volume increased in March 2023 as mortgage rates continued to decrease through February from the October peak of 6.90%,” the report said. Mortgage rates rose in March: the average interest rate on a 30-year fixed-rate mortgage increased to 6.54% from a February level of 6.26%.”
The Close
DECEMBER 29, 2022
And now we present the 131 real estate terms you need to know—and be able to define for clients—in 2023: 1031 Exchange. This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. Basically, the law protects lenders from assumable mortgages with below-market interest rates.
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