Most analysts would say that currently, we are in a seller’s market. The summer of 2020 has been an interesting time. While the coronavirus has negatively impacted much of the economy, real estate has been surging.
Title insurance is indeed an insurance policy but is only needed when financing a home or refinancing a home loan. For the relatively few times someone can take out a home loan, the concept and utility of title insurance can be foreign
to some. In addition, there is more than one type of title insurance policy.
The coronavirus pandemic has put many things on hold, but real estate continues to chug along. Sales and listings persist across the country, with some markets harder hit than others. And home prices are rising, throwing a wrench in the
plans of those who thought they might be able to swoop in for a steal.
As the economy is still being impacted by the Coronavirus, unfortunately many across the country are unemployed. Whether it’s a temporary furlough or a particular company has closed down until further notice, more and more people are finding
themselves in the unemployment line.
Freddie Mac's results of its Primary Mortgage Market Survey® shows that "This year has been anything but normal and as the uncertainty lingers, mortgage rates remain
near record lows. These rates continue to incentivize potential buyers and the home buying season, which shifted from spring to summer, will likely continue into the fall."
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