The FDIC released guidance today with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas affected by severe storms, straight-line winds, tornadoes and flooding. The agency encouraged banks in affected areas to work constructively with borrowers experiencing difficulties due to severe weather, including extending repayment terms, restructuring existing loans or easing terms for new loans. The agency also said it would consider relief from certain filing and publishing requirements.
The 30-year fixed-rate mortgage ticks down
“Recent mortgage rate stability continues to benefit potential buyers this spring, as reflected in the uptick in purchase applications,” said Freddie Mac’s chief economist.