Morning Roundup (9/1/2021) – Mortgage Applications Down 2.4%, Q2 HPI Sees Largest Gain In History

Good Morning! Today is Wednesday, September 1. President Biden defended his Afghanistan withdrawal strategy in a speech Tuesday. Hospitals in New Orleans are operating on backup power after Hurricane Ida left the city powerless. Trustees for the Social Security trust fund said the program is expected to pay benefits that exceed its income in 2021. The S&P 500, Dow Jones, and Nasdaq ended August near record highs.And in mortgage and housing news… Mortgage Applications Down: Mortgage applications decreased 2.4% last week despite continuing low rates, according to the MBA’s Weekly Mortgage Application Survey. FHFA HPI: The FHFA’s Q2 House Price Index saw the largest annual gain in its history, with house prices rising 17.4% year-over-year, up from 12.6% in the…

Morning Roundup (8/31/21) – Forbearance Numbers Unchanged, Freddie Mac Confirms Disaster Relief

Good Morning! Today is Tuesday, Aug. 31. The war in Afghanistan ended yesterday when the final US military plane left Kabul. President Biden, who was silent yesterday, is expected to address the nation this afternoon. Hurricane Ida left more than one million people with no electricity or water on the Gulf Coast. California ordered an evacuation along Lake Tahoe due to the Caldor fire.And in mortgage and housing news… Forbearance Numbers Hold: The number of mortgage loans in forbearance remains unchanged from last week, holding at 3.25% according to the latest report from the Mortgage Bankers Association. Freddie’s Here To Help: Freddie Mac reminded homeowners and mortgage servicers of its immediate disaster relief options for those affected by Hurricane Ida. In Further Freddie News: Freddie Mac now projects that…

Morning Roundup (8/30/21) – Ida Threatens Lousiana Homes, Housing Affordability Projected To Worsen

Good Morning! Today is Monday, Aug. 30. Hurricane Ida made landfall in Lousiana yesterday, leaving more than a million people without power. The U.S. withdrawal from Afghanistan continues, despite multiple reports of American citizens being left behind. The EU seeks to block non-essential travel from the U.S. Millennial professionals are using their savings to take a break from working and explore new career paths. And in mortgage and housing news… Buying Power: Home buyers in June 2021 had 129% more house-buying power than in 2006, according to the June 2021 First American Real House Price Index. Experts Say: A Reuters poll of experts predicts that housing affordability is set to remain stretched or worsen in the next 2-3 years. Ida Makes…

Morning Roundup (8/27/21) – Eviction Moratorium Lifted, Bitcoin Play Raises Concerns

Good Morning! Today is Friday, Aug. 27. A terrorist attack at the Kabul airport killed 13 U.S. service members and at least 90 Afghans. President Biden said airlift efforts would continue despite the attack. Capitol Police officers sued former President Trump, along with groups like the Proud Boys, over the January 6 riot, saying they incited violence against officials and police. Hawaii’s Governor David Ige asked travelers to stay home through October as hospitals struggle with rising Covid cases. And in mortgage and housing news… Mat Ishbia’s Bitcoin Play Raises Concerns: UWM CEO Mat Ishbia’s announcement that he intends to accept Bitcoin has raised questions among economists and within the industry about encouraging consumers to rely on the “volatile” cryptocurrency for their mortgage payments.…

Morning Roundup (8/26/21) – Interest Rates Flat, Neat Capital Offers Vax Bonus

Good Morning! Today is Thursday, Aug. 26. Reports of a looming terror attack at the airport in Kabul has added new chaos to U.S. evacuation efforts. House Democrats are putting together a sprawling, $3.5 trillion spending bill that targets climate change, poverty, college financial aid and Medicare. Delta Airlines is charging unvaccinated employees $200 more on their health plans. A federal judge in Michigan sanctioned pro-Trump lawyers who sued officials over alleged voter fraud. And in mortgage and housing news… Mortgage Rates Hold Steady: Freddie Mac announced Thursday morning that mortgage rates were essentially unchanged, at 2.87 percent. “Throwing Money At The Problem”: Neat Capital is offering refinance and mortgage applicants a $500 discount if they’re vaccinated. LA Eviction Moratorium Upheld:…

Morning Roundup (8/25/21) – Mortgage Applications Up, Rent Aid Dragging

Good Morning! Today is Wednesday, Aug. 25. President Biden doubled down on the Aug 31 Afghan deadline while the Taliban blocked airport access. House Democrats passed a $3.5 trillion budget blueprint and voted to strengthen federal oversight of state election laws, a move that will likely provoke a filibuster in the Senate. A new Suffolk University poll finds Biden’s approval rating down to 41 percent. And in mortgage and housing news… Mortgage Applications Up: Mortgage applications increased 1.6% this week, along with an influx of refinance applications, according to the MBA’s weekly report. Rent Aid Funding Dragging: Just $1.7 billion in funds intended to prevent eviction were disbursed in July. The New York Times reports: “The money meted out was…

Morning Roundup (8/24/21) – Forebearance Numbers Decrease, Refinancing Sees Boost

Good Morning! Today is Tuesday, Aug. 24. The FDA has fully approved Pfizer’s Covid-19 vaccine. The Pentagon and several major companies and universities announced new vaccine mandates, and President Biden urged others to follow suit. The officer who shot January 6 rioter Ashli Babbitt has been cleared of wrongdoing by Capitol Police. Kathy Hochul was sworn in as governor of New York during a midnight ceremony. Bitcoin is back on the rise, trading above $50,000 Monday. And in mortgage and housing news… MBA Forbearance Numbers: The total number of loans now in forbearance decreased by 1 basis point from 3.26% of servicers’ portfolio volume in the prior week to 3.25%, according to the MBA’s latest Forbearance and Call Volume Survey. Lending Startup Scores: Orlando tech…

Morning Roundup (8/23/21) – Existing Home Sales Up, Delinquency Rate Down

Good Morning! Today is Monday, Aug. 23. As violent scenes outside the Kabul airport continue, President Biden has said his administration could extend the August 31 deadline for removing American troops. Tropical storm Henri made landfall in New England yesterday. A group of nine House Democrats published an op-ed in the Washington Post urging Speaker Pelosi to pass the bipartisan infrastructure deal and “take the win” rather than tie it to the $3.5 trillion additional spending plan. And in mortgage and housing news… Existing Home Sales Up in July: Existing-home sales rose in 2.0 percent in July, marking two consecutive months of increases, the National Association of Realtors® reported Monday.The median existing-home sales price rose at a year-over-year pace of 17.8 percent.…

Morning Roundup (8/19/21) – Mortgage Applications Down All Around, Senate Targets Affordable Housing

Good Morning! Today is Thursday, Aug. 19. Global criticism of the Biden administration is growing over its handling of the Afghanistan fiasco. The Taliban is strengthening its hold on the country and its capital of Kabul. An appeals court has ruled in Texas’s favor over some of the state’s abortion regulations. The recall election of California Gov. Gavin Newsom is looming. Hurricane Grace is intensifying and threatening Mexico’s Yucatan Peninsula.And in mortgage and housing news…Down Across the Board: Mortgage applications have dropped by weekly, monthly and yearly metrics this week.Pocket Money Portfolio: A new startup lets aspiring investors drop $10 to take part in a retail portfolio.Senate Seeks Housing: A new bill proposed in the U.S. Senate seeks to spur affordable…

Morning Roundup (8/18/21) — Mortgage Applications Plummet, Assistance for Veteran Homebuyers

Good Morning! Today is Wednesday, Aug. 18. Bitter debating continues over the ultimate responsibility for the Taliban’s success in Afghanistan. Texas Gov. Greg Abbott has tested positive for COVID-19. Wildfires continue to blaze out of control in northern California. New Zealand has shut down the entire country over a single COVID case. Tropical Depression Fred is posing severe weather threats for the southeastern United States.And in mortgage and housing news…Mortgage Applications Plummet: Applications declined by a whopping 27 percent relative to a year ago, slipping four percent month-over-month.The Future of Homebuying? A disruptive direct-buyer-to-seller platform is raising millions in capital as it grows in popularity.Where the Money’s Gone: Why millions in federal rental assistance has failed to reach renters and…