Morning Roundup (11/23/2021)– Powell Renominated, Delinquencies Improve

Good Morning! Today is Tuesday, November 23. The Justice Department will pay $130 million to the survivors and families of victims of the Parkland, FL shooting, settling a lawsuit that alleged the FBI failed to investigate tips in advance of the tragedy. A defense attorney in the Ahmaud Arbery case is under scrutiny after making comments in court about the toes of the deceased. An Airbus A340 plane has landed on Antarctica for the first time.

And in mortgage and housing news…

Powell Renominated: President Biden renominated Jerome Powell to chair the Fed. Here’s what industry analysts think about the move.

Black Knight First Look: The national delinquency rate continued to improve at a slow but steady pace last month, with especially impactful declines for loans overdue by 30 days or more.

The Pandemic Around The World: ERA Real Estate released a first-of-its-kind report documenting the effects of the pandemic on real estate markets across the globe.

HUD’s Climate Plan: HUD released its Climate Action Plan, which includes commitments to community initiatives, green building, and health hazard assessment.

“Opportunity Zones”: ATTOM’s Q3 report on distressed neighborhoods, known as Opportunity Zones, showed home prices appreciated similarly to other areas in the country, potentially attracting investors.

First American: First American’s Mark Fleming sees housing market potential continuing to rise in 2022 as homeowners are expected to live in their houses longer, adding to the supply shortage.

October Growth Low: The median price of homes sold in October was $378,700, up 13% YOY but the lowest growth rate since December 2020, Redfin reported.

Lenders Speak Up: Mortgage lenders voiced their opinions on addressing the racial homeownership gap.

Atlanta Area Tries To Secede: In rapidly-growing Atlanta, residents of the Buckhead area are trying to become their own city in an effort to stave off affordable housing development.