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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Appearances
WSJ Your Money Briefing · Mortgage Refinancings Hit Record High as Economy Sputters · 9 Sep 2020
podcast
All with a refi, you're kind of just chilling at home.
Yes, they are expected to remain low.
So the Fed has said that it wouldn't raise short-term interest rates, which are one of the main things that affects mortgage rates until at least the end of 2022.
So that's another more than two years right there.
And right now, the spread between the yield on the 10-year Treasury, which is another indicator of where mortgage rates are headed, the spread between that and the 30-year fixed-rate mortgage is really wide and has a lot more room to narrow.
So that means rates could fall.
The reaction of the housing market to this recession, you know, resiliency, home prices going up, sales and demand strong is almost the opposite of what happened in 2008 when the housing market was the cause for the financial crisis.
In 2008, prices fell.
Millions of people were foreclosed upon.
They lost their homes.
That's not likely to happen this time because of new protections we've put in place, but also just the nature of the housing market, the fact that, you know, it wasn't the cause of the economic decline this time.
Prices are still rising.
They rose at somewhat of a slower rate in the early spring before picking back up this summer.
So they're still rising, making homes more expensive.
And sales are also up 25% in July, which is a record for one month.
So we should expect the housing market to keep chugging along.
Anytime.
Forbearance makes it a lot harder for some types of lenders to do business.
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When there are high rates of forbearance, like there are right now, just over 7%, it means that servicers have to continue advancing payments on mortgages to investors, the final holder of a mortgage, even if the borrower isn't paying.
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They are not.
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Showing 461–480 of 593 · page 24 of 30
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