One little anecdote, many HUD loans are coming to the end of COVID government-sponsored CARES act forbearance periods and some of those may be eligible for 40 year refinance options, both extending the terms of mortgages and lowering monthly payment amounts.
I have no idea the volume here, but I'd venture to guess it's substantial, partly why inflation has been so bad, and may lend it's hand to a soft landing and not a dive off a cliff. But just my humble two cents.
I have no idea the volume here, but I'd venture to guess it's substantial, partly why inflation has been so bad, and may lend it's hand to a soft landing and not a dive off a cliff. But just my humble two cents.
https://www.hud.gov/press/press_releases_media_advisories/hu...
https://www.hud.gov/sites/dfiles/SFH/documents/IACOVID19FB_F...