The Federal Housing Finance Agency yesterday announced a nearly $40,000 jump in maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021.
With mortgage rates falling record lows for the 14th time this year, borrowers took the bait, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending November 20.
November saw no letup in the S&P CoreLogic Case-Shiller Home Price Indices, with home prices nationwide jumping by 7 percent annually. And the Federal Housing Finance Agency said it was even more, rising by nearly 8 percent.
Trepp, New York, reported the commercial mortgage-backed securities special servicing rate inched down in October after peaking in September.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased to 5.48% of mortgage servicers’ portfolio volume as of November 15, from 5.47% the week before. MBA estimates 2.7 million homeowners are in forbearance plans.