As Corona virus cases increase, China shakes up leadership. Barclays
CEO is under investigation for links to Jeffrey Epstein. President Trump sets
the stage to pardon Roger Stone, while one member of Congress floats new
impeachment proceedings. Meanwhile in mortgage news … As low mortgage rates attract buyers, U.S. home prices surge.
The median price of an existing single-family home
increased 6.6 percent in the fourth quarter, hitting $274,900, according to
the National Association of Realtors. Housing
Wire’s Q&A with former FHFA director Ed DeMarco shows he is still on a
mission to reform the GSEs and create a level playing field for private
capital. Low mortgage rates are offsetting home affordability issues,
according
to the National Association of Realtor’s…
Bernie Sanders wins in New Hampshire. President Trump pulls
former US attorney Jessie Liu’s nomination for Treasury role. Meanwhile in
mortgage news … Mortgage lending just had
its biggest quarter in 14 years with originations climbing to their highest
level since 2005, according to fourth quarter lending data from the Federal
Reserve Bank of New York. The President’s
budget for FY2021 calls for the elimination of block grant programs and a
reduction of the Department of Housing and Urban Development’s budget by 15
percent. As employment remains strong, so does mortgage loan
performance. Mortgage delinquencies dropped to a 40-year low in the fourth
quarter as strong employment bolstered borrowers’ ability to make timely
payments, the Mortgage
Bankers Association said. With…
President Trump will propose a $4.8 trillion budget, with
big cuts to foreign aid and safety net programs. The Iowa Democratic party
released updated numbers that show Mayor Buttigieg the winner and Bernie
Sanders second in Iowa caucuses. Meanwhile in mortgage news … The January
jobs report bodes well for the housing market. The US Department of Labor
announced that 225,000 jobs were created in January, while the unemployment
rate was 3.6%, slightly higher than December as more people entered the work
force. The labor force participation rate increased to its highest point since
2013. Home mortgage giants Fannie Mae and Freddie Mac announced
they will
stop purchasing adjustable-rate mortgages tied to the London Interbank Offered
Rate (LIBOR) after 2020.…
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