There is a lot to the American Rescue Plan and many of its provisions will have an impact on the real estate market. Whether you own a house, are looking to buy a home, or are thinking about refinancing your mortgage, the details of this legislation is relevant to you. The team at Peoples Choice Mortgage is here to highlight some of the provisions of the American Rescue Plan and what they mean for the housing market.

… It is important to sometimes take a step back and take a broad assessment of important economic trends and data. This broad picture can go a long way toward helping us understand what is happening with the real estate market and what is on the horizon. With that being said, here is an economic snapshot of data and trends that plays a role in the future of the mortgage and housing market.

Current homeowners and new homebuyers have taken advantage of low mortgage rates and are benefiting from rising home values. Real estate naysayers were expecting the housing market to crash because of a tsunami of potential foreclosures that would flood the market with a bunch of cheap houses. This foreclosure wave never materialized and recent good news about foreclosures means it won’t anytime soon