5 Cities where Sellers are Reducing Prices

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Sellers are reducing prices in these cities

A number of home sellers are reducing their asking prices. The locations of price reductions may surprise you…

Other Stories:

  • 80% Of Seniors Are Not Selling Their Homes

  • HUD solicits input on LIBOR transition

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Negative Interest Rates?!

negative interest rates

Negative Interest Rates?! It’s not what most think

Negative interest rates? You heard that correctly. No, you don’t have to turn up your volume. In fact negative interest rates in the U.S. are here. (CNBC article). While you most likely will not see this economic anomaly mentioned on your local or national evening news, financial outlets have assiduously reported on central banks around the globe who are now pulling out all the stops in the effort to stimulate the economy. The European Central Bank, Sweden, and Germany currently are in negative interest rate territory and the U.S. may follow.

Does this mean the banks will pay you to borrow money? Not quite.

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The Blindside: LIBOR Move Looms Ahead

The move away from the LIBOR was expected, the sudden deadline for HMBS was not

Last Monday Ginnie Mae, the government bond-insurer, declared the agency will no longer accept any mortgage-backed securities or MBSs attached to the LIBOR index. The policy effective date for HECM loans is January 1st, while traditional mortgage-backed securities restrictions go into effect January 21, 2021.

Our industry’s adoption of the LIBOR index began with d issued October 12, 2007. It permitted FHA to insure HECM loans using either a 1-year LIBOR index for annually adjustable loans and the 10-year swap rate for monthly-adjustable HECMs. By 2008 most lenders had switched to the new index.

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Lower interest rates have erased most of 2017 PLF cuts

ePath 100K RM leads

Record-low LIBOR rates and competitive margins erase most of 2017 PLF reductions

Dan Hultquist of Finance of America Reverse returns for another exclusive interview; this time discussing how a record low-interest-rate environment do erase most of the impact of the October 2017 PLF reduction and much more.