As states begin to reopen, home purchases are slowly beginning to regain steam. The latest data from the Mortgage Bankers association shows that home purchases, while down compared to last year at this time, are up 11% week-over-week. Mortgage lenders, like Movement, are relying heavily on technological enhancements to allow customers to go through the homebuying process digitally.
Also, this week the Federal Reserve started buying mortgage-backed securities at a lower price point, which allowed many lenders to reduce interest rates for some borrowers.
Continue reading Retail sales plummet, but home purchases on the rise at Movement Mortgage Blog.
from Movement Mortgage Blog https://ift.tt/2ArkdKV
via Naza Finance Blog
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