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Bidding Wars, Mortgage Rate Increases, and Forbearance Extension

In this week’s Flash Briefing, well over half of all buyers, 56%, are facing bidding wars in their offers, so expect bidding wars to become more common. The average contract interest rate for 30-year fixed-rate mortgages increased. The FHFA is allowing borrowers to request a forbearance extension.

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Cody Eckman

Cody cares way too much about obscure facts, subtitles, and small domesticated animals. He spends most of his personal time writing freelance or planning his next novel in ways that evoke thoughts of conspiracy theorists and their dubious pegboards. He tried writing a screenplay once and gave up after it set many fires, ran away with his wife, and threatened every local kitten in a four-block radius. Cody loves all things geek and nerd. When he’s not writing, he’s probably actively avoiding it and you can find him playing with Toby – his ginger tabby – cooking, hiking, or remembering some cringey thing he said seven years ago.