Good morning! Today is Friday, February 26. The United States has conducted airstrikes against Iranian-backed militia facilities in eastern Syria in response to recent attacks against American targets in Iraq. Senate rules will block consideration of $15 minimum wage legislation. Jeep is resisting the Cherokee Nation’s request to stop using the tribe’s name.
And in mortgage and housing news …
MORTGAGE RATES: Mortgage rates climbed again this week, inching ever closer to 3 percent as confidence in the economy begins to climb.
FORBEARANCE EXTENSION: The FHFA announced an extension of Covid-19-related mortgage relief.
PENDING SALES: The National Association of Realtors’ index of pending home sales fell 2.8 percent to 122.8, which was still a record high for the month.
ROCKET PROFIT: Quicken Loans parent Rocket Companies announced a record $9 billion profit for 2020.
EVICTION MORATORIUM: A federal judge in Texas ruled that the federal moratorium on evictions is unconstitutional, according to court documents.
REVERSE MORTGAGES: The pros and cons of taking out a reverse mortgage.
LOW-CREDIT LENDERS: The best mortgage lenders for borrowers with low credit scores.
CONSTRUCTION COSTS: New homes, decks, fences, and other items requiring lumber are all getting costlier.
REFINANCING COSTS: Some lenders may advertise no-closing-cost mortgage refinance loans, but you’ll always pay closing fees one way or the other.
COMMUNITY BANKS: A new report this week from the Federal Deposit Insurance Corp. said that income at smaller, community banks rose more than 21 percent last quarter, compared to a year ago.