Good morning! Today is Thursday, February 18. Millions of Texans are still without electricity after a brutal winter storm, with more blizzard conditions expected to sweep across the South and East this week. Japan appointed Olympic speedskating medalist Seiko Hashimoto to be its cabinet minister in charge of the Olympics, replacing Yoshiro Mori, who resigned after making sexist remarks. Facebook is banning all Australian news posts in reaction to proposed legislation that would require Facebook to pay to link to news outlets. And in mortgage and housing news … MORTGAGE APPS: Mortgage applications declined 5.1 percent for the week ending February 12, according to the weekly report released by the Mortgage Bankers Association. COSTLY MISTAKE: Citibank was trying to make $7.8M in interest…
Good morning! Today is Wednesday, February 17. Cold and snow is blanketing 73.2 percent of the nation this morning. The National Institute of Allergy and Infectious Diseases reports that vaccines won’t be available to the “general public” until mid- to late May or early June. New York state is suing Amazon over worker treatment during the pandemic. And in mortgage and housing news … EVICTION MORATORIUM: The Biden Administration announced that it will extend the Federal Housing Administration’s foreclosure and eviction moratoriums into the summer, while also extending mortgage forbearance options. FORBEARANCE NUMBERS: The number of U.S. mortgages in forbearance dropped to 2.6 million last week after holding steady for several weeks, according to the weekly report released by the Mortgage Bankers Association. PA RENT RELIEF: The…
Good morning! Today is Tuesday, February 16. The U.S. House of Representatives will consider legislation to create a 9/11-style commission to examine the Capitol riot and pay for advanced security. A winter storm is causing massive power outages in Texas. NASA’s next Mars rover is getting ready to touch down inside the planet’s Jezero Crater on Feb. 18. And in mortgage and housing news … FHA DREAMERS: A change made by the Trump administration has opened the door for DACA recipients, often referred to as “Dreamers,” to get Federal Housing Administration loans to help in their pursuit of home ownership. RATE INCREASE: A case for higher mortgage rates to cool the overheated housing market. HEALTHY CREDIT: Healthy credit is essential in the current lending environment. Here’s the score…
Good morning! Today is Monday, February 15 – President’s Day. Walmart’s vaccine rollout will target small towns. A major winter storm is spreading snow and ice from the Midwest, South, and now sweeping into the Northeast. Scientists accidentally discovered new animals a half mile under Antarctica ice. And in mortgage and housing news … FANNIE MAE INCOME: Fannie Mae released its 2020 financial results, reporting $11.8 billion in net income for the year and $4.6 billion in the fourth quarter. HUD POLICY: Opinion – A historic housing crisis has America in its grip. Can Marcia Fudge save the day? NONQUALIFYING MORTGAGES: Good news for self-employed borrowers. Nonqualifying mortgages are staging a comeback. REDLINING: The acting CFPB chief is signaling a tougher stance against redlining. FREDDIE MAC LEADERSHIP: Freddie…
Good morning! Today is Friday, February 12. Contracts with Pfizer and Moderna require each company to provide an additional 100 million vaccine doses. President Biden’s 100-day plan to reopen schools meets with a messy reality of teachers’ unions holding firm on their demands for new safety measures and vaccinations. The CDC is considering classifying color-coded zones for school reopenings. And in mortgage and housing news … RATES STEADY: For the second week in a row, the 30-year fixed-rate mortgage average didn’t move at all, according to Freddie Mac’s weekly Primary Mortgage Market Survey. FREDDIE RESULTS: Freddie Mac announced net income of $7.3 billion for 2020, up $100 million from the year before as the housing market surged amid pandemic-induced record low interest rates. FAIR HOUSING…
Good morning! Today is Thursday, February 11. The White House is looking at domestic travel restrictions as COVID mutations surge in Florida and California. Japanese Olympic leader Yoshiro Mori will resign after making sexist remarks. A driver survived his truck’s 70-foot plunge off a snowy Wisconsin highway. And in mortgage and housing news … MORTGAGE APPS: Mortgage applications in the United States slipped last week, though remained significantly higher than a year ago, according to a report released by the Mortgage Bankers Association. LANDLORD OPTIONS: There are options for landlords who have fallen behind in their mortgage and loan payments. TRACK APR: Home shoppers should be reminded that lenders’ fees are added to the interest rates borrowers pay, so the annual percentage rate is the true measure…
Good morning! Today is Tuesday, February 9. Johns Hopkins University data shows that more than 10 percent of residents in several states have received an initial dose of Covid-19 vaccine. Tesla invested $1.5 billion in Bitcoin and said it might start accepting the cryptocurrency as payment for its products. Nielsen still doesn’t have any Super Bowl LV ratings to report and isn’t saying why. And in mortgage and housing news … CRE RECOVERY: Commercial and multifamily mortgage loan originations were 76 percent higher in the fourth quarter than the quarter before – but remained 18 percent lower than the same period in 2020, according to a report released by the Mortgage Bankers Association. HOUSING FEARS: Millions of Americans are feeling insecure about their…
Good morning! Today is Monday, February 8. The Tampa Bay Buccaneers beat the Kansas City Chiefs in the Super Bowl. Democrats will propose a $3,000-per-child benefit today as part of a Covid-19 stimulus relief package. Chicago teachers tentatively agree to return to classrooms for in-person instruction this week. And in mortgage and housing news … SUPER BOWL ADS: Several lenders got in on the Super Bowl ad game. Comedian Tracy Morgan teamed up with Rocket Mortgage to deliver with a humorous “Certain is better” tag line, and Guaranteed Rate featured elite athletes with an “I believe you will” message. FORBEARANCE EXIT: The first round of CARES Act mortgage forbearance relief is about to expire in March. 10-YEAR BOOM: A new long-term housing boom is upon us. And COVID-19 is the…
Good morning! Today is Friday, February 5. A potential third vaccine made by J&J that only requires one shot could become available in the U.S. within weeks. Members of the House Homeland Security Committee, which is investigating the Jan. 6 Capitol riot and domestic terrorism, urged tougher penalties and holding social media companies accountable. United and American Airlines said tens of thousands of workers again could face furloughs as demand for air travel continues to lag. And in mortgage and housing news … HOME VALUES: Home values in the United States exploded during the last year, as interest rates and home inventories both hit record lows. Are they sustainable? MORTGAGE RATES: Mortgage rates didn’t budge this week – and that’s good news for borrowers. STICKER…
Good morning! Today is Thursday, February 4. President Biden signaled openness to sending $1,400 payments to a smaller group of Americans in the next round of coronavirus relief legislation. A British clinical trial will test combining Pfizer and AstraZeneca vaccines. Hundreds of San Francisco homeowners fell for a prank and applied for “Blue Check” verified homes. And in mortgage and housing news … UWM EARNINGS: United Wholesale Mortgage’s parent company announced financial results for the first time since going public last month, reporting large increases for the quarter and 2020 over the year before. MORTGAGE APPS: Mortgage applications in the United States surged 8.1 percent the last week of January from a week earlier, according to a report released by the Mortgage Bankers Association. PAST…
