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As COVID-19 progresses, the economic expansion is starting to unravel, bringing down home sales this year, according to new projections released Wednesday.
The Fannie Mae Economic and Strategic Research Group forecast 14.7 percent less sales this year, along with 9.3 percent fewer housing starts, as a result of the virus, its economic impact and social turmoil. Based on their projections, existing-home sales should sink to 4.54 million this year, down from 5.34 milli...
1. Rates - Yes they are still historically low, however, many lending institutions are either
I recommend you be quick about providing your lender with that they need so your loan officer can get you thru the system and locked. Please note some turn times out there are over 120 days long from application to close, so choose wisely with or without a lock allowed.
2. Rates- LOOKOUT- Some lending institutions are charging for those lower rates. They should be making you aware of it, however, we have seen some don't.
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