Orla McCaffrey

speaker

593 appearances 13 recordings 1 series first heard Mar 2020 last heard Jun 2022

Orla McCaffrey’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Struggling Homeowners Remain in Mortgage Forbearance · 25 Jan 2021 podcast

So they took out a forbearance and maybe use the money to pay down other debt, do other things.

But

The large, large majority of people who are still in forbearance right now are really needed.

They don't have many other options.

This is definitely a red flag, the slowdown, because the consumer says a lot about the health of the economy.

And it comes alongside a number of other negative economic indicators that we've seen recently.

Job losses, much higher claims for unemployment insurance.

Retail sales were down last month.

Just a bunch of things that show there's still a group and possibly a growing group of people out there who are still struggling.

Thanks, JR.

WSJ Your Money Briefing · Mortgage Refinancings Hit Record High as Economy Sputters · 9 Sep 2020 podcast

I talked to one family whose payments went down from about $2,000 a month to about $1,500 a month.

And obviously that gives them money to save and also put into other expenses.

Sure.

So the numbers in the second quarter were really significant.

The second quarter of 2020 was the best for mortgage originations, the best quarter on record.

Almost $1.1 trillion in mortgages were originated, which is significant because in all of last year, there were only $2.5 trillion in mortgages originated.

So the fact that we're almost halfway to that point in just three months of 2020 is significant.

At this point, you can save upwards of a percentage point.

I talked to one family whose payments went down from about $2,000 a month to about $1,500 a month.

And obviously that gives them money to save and also put into other expenses, specifically for this family, guitar lessons and swim lessons for their kids who are doing school from home this fall.

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