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Thursday, June 25th, 2020

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Posted by: | Posted on: June 25, 2020

Mortgage Rates Keep Falling to Record Lows—So Is Now a Good Time to Refinance?

The coronavirus pandemic has led to a dramatic decline in mortgage rates. But that doesn’t mean now is a good time to refinance for everyone.

Last week, Freddie Mac reported that mortgage rates hit a new record low for the fourth time this year, with the average rate on a 30-year fixed-rate mortgage dropping to 3.13%.

When rates hit their first record low of the year back in March, it triggered a deluge of refinancing activity just as many lenders were transitioning to remote work environments because of the spread of COVID-19. That led to a massive backlog at some lenders, with some borrowers waiting weeks to close their refinances.

Now, the market has settled down, and lenders have adapted to the coronavirus world. And the good news for borrowers is that most markets are served by mobile notary services, said Pat Stone, co-founder and chairman of title insurance company

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Posted by: | Posted on: June 25, 2020

Recession? The Luxury Housing Market Is Back and Resort Areas Are Hot

The middle of a pandemic-induced recession, with millions of people out of work and the future uncertain, does not seem like the best time to drop big bucks on a home. That is, unless you’re a wealthy city dweller and that home is a luxury property with an in-ground pool and plenty of acreage, far from the potentially infected urban hordes.

Interest and prices in the luxury housing market rose sharply in May, according to a recent realtor.com® report. (Realtor.com defines luxury as the top 5% of the most expensive homes in a given market.) And demand in that sector has shifted from sleek, urban high-rises to popular vacation destinations where buyers can score larger, more private residences in less populated areas.

“COVID-19 and the recession have not affected everyone equally,” says Javier Vivas, realtor.com’s director of economic research. “We’re coming off a great economic boom … and

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Posted by: | Posted on: June 25, 2020

The Weeknd Wants Out of Hidden Hills, Selling His $25M Mansion

It looks like The Weeknd would like to spend his weekends elsewhere. The chart-topping musician is now penning a swan song for his massive Hidden Hills, CA, mansion. It’s on the market for $24,995,000, according to Variety.

The hit-maker, whose given name is Abel Tesfaye, reportedly purchased the 3-acre property in 2017 for $18.2 million. Located in a gated community that’s popular with celebrities, the home is surrounded by redwood trees, lawns, and hillsides.

Built in 2017, the 13,391-square-foot, seven-bedroom home comes with a two-bedroom guesthouse.

The Weeknd lists his Hidden Hills, CA, home.

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2017 build

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Double-height entry hall

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Dining room

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Kitchen with dual islands

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Living room

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Wine room

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Office

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Bedroom

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Auto gallery

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Pool and cabana

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The entry hall features a double-height ceiling and two-story window wall. The interiors are white and bright, with warm wood and

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