Much is happening in the mortgage industry as we all work around the impacts of COVID-19. The influx of demand is felt by service providers throughout the loan process, including appraisers, title agents, attorneys, loan processors, underwriters, county clerk’s offices, and more. While it’s possible the system will become strained and the process will take a little longer than normal, it is still important that you know your options when it comes to your mortgage.
The spread of COVID-19 and its expected impact on world economies has created stock market turmoil, unprecedented bond rallies, and the lowest mortgage rates on record. With so much uncertainty surrounding this outbreak, it is expected that you have questions on how this all impacts your mortgage or your journey into homeownership. Please take a moment to watch this quick video by the Mortgage Bankers Association to better understand how COVID-19 impacts our industry and your mortgage.