This past year was a busy year for the mortgage market. While the economy was in recession, record low mortgage interest rates contributed to refinance activity reaching near record highs. Many borrowers saved thousands of dollars by lowering their mortgage rate through refinances. This Research Note highlights some of the key trends defining refinance mortgage activity in 2020. More
During the COVID-19 crisis, mortgage forbearance plans have played an important role in helping households manage their finances by providing short-term liquidity to mortgage borrowers. Mortgage forbearance plans temporarily remove the obligation of borrowers to make their monthly mortgage payment. More
What is the main driver of demand for housing in the United States? The answer is simple: people. The American population is a diverse group with multifaceted and individualistic housing needs. More
Bob and Jane purchased their home three years ago. Now, in the midst of the pandemic, Jane is furloughed from her job as a purchasing manager, and Bob is working fewer hours as a mechanic. They are wondering how long their savings will last. Postponing mortgage payments would make their reserves hold out a lot longer. More
If you want to buy a home, is living near the water on your wish list? If so, how much do you worry about flooding? More
As the nation’s affordable housing crisis intensifies, there is a growing movement in high-cost areas for the legalization and expansion of accessory dwelling units (ADUs)—also referred to as granny flats, garage apartments, and in-law suites. More
Opinions, estimates, forecasts, and other views contained in this document are those of Freddie Mac's Economic & Housing Research group, do not necessarily represent the views of Freddie Mac or its management, and should not be construed as indicating Freddie Mac's business prospects or expected results. Although the Economic & Housing Research group attempts to provide reliable, useful information, it does not guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Information from this document may be used with proper attribution. Alteration of this document or its content is strictly prohibited. ©2021 by Freddie Mac.
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