The real estate market might be slowing down a bit, but it’s still sizzling. Mortgage rates, meanwhile, remain near record lows. Here’s what you need to know in mortgages and real estate this week.
1. Some homeowners are refinancing yet again.
Mortgage rates are falling again. Homeowners who participated in the great refi boom of 2020 are faced with a fresh decision: Should you refi again?
2. New company hopes to help renters into homeownership.
Landis, a startup that aims to turn renters into homeowners, just raised $165 million in venture capital. The company says it will use the cash infusion to expand its rent-to-own program for first-time homebuyers.
3. Mortgage rates remain at rock-bottom levels.
The average rate on a 30-year fixed-rate mortgage is 3.04 percent, unchanged from last week, according to Bankrate’s national survey of lenders.
4. Feds roll out renter eviction website.
Prohibitions against evicting tenants are ending in many states at the end of July. With that in mind, the Consumer Financial Protection Bureau today released a new online tool to help those facing back rent and eviction. The Rental Assistance Finder, at www.consumerfinance.gov/renthelp is designed to help renters and landlords easily find and apply for payment assistance for rent, utilities and other expenses.
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5. Mortgage experts think rates will dip.
Half of mortgage experts polled by Bankrate expect rates to fall this week. They blame uncertainty surrounding the spike in coronavirus cases.