Freddie Mac

As the end of the first six-month forbearance period arrives, the impact of the new cap is coming into focus.

Mortgage rates decreased by 8 basis points this week, remaining near record lows, while a strong purchase market should continue into the fall, according to Freddie Mac.

Both the Federal Housing Finance Agency and Federal Housing Administration are extending relief for homeowners and renters due to the pandemic crisis.

The mortgage giants were criticized earlier this month for a plan to charge an "adverse market fee" to protect against losses resulting from the pandemic.

The number of loans going into coronavirus-related forbearance decreased for the tenth straight week, but to a lesser degree than in previous weeks, according to the Mortgage Bankers Association.

Meanwhile, July saw a record surge in existing-home sales, while mortgages in serious delinquency were on the rise

There were questions about the GSEs' use of structured credit risk transfers in the single-family market given an earlier pandemic-related market disruption.

Lenders initially won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

Mortgage rates crept up this week, nearly reaching the 3% mark as lenders raised prices because of a new fee, although purchase activity remained solid, according to Freddie Mac.

The number of loans going into coronavirus-related forbearance decreased for the ninth consecutive week, according to the Mortgage Bankers Association.