Mortgage Roundup (6/2/21) – Tech, Stock & Closings

Good morning! Today is Wednesday, June 2. Securities regulators told Tesla last year that CEO Elon Musk’s use of Twitter had twice violated a court-ordered policy requiring his tweets to be preapproved by company lawyers. Zoom is reporting blowout earnings, but warns of a coming slowdown. Texas Gov. Abbott vows to defund the state legislature after Democrats blocked his voting restrictions bill. And in mortgage and housing news … MORTGAGE TECH: How do you make sure mortgage technology helps with your relationships.   FAST CLOSINGS: A study finds that lenders are closing on mortgages more quickly.   EVICTION MORATORIUM: The eviction moratorium will end. What happens to renters then? YAY INFLATION: Why debt-ridden millennials should be cheering for inflation. INSURANCE: Everyone needs homeowners insurance. This is what determines the price.  MANUFACTURED HOMES: A CFPB…

Mortgage Roundup (6/1/21) – Sellers, Risk & Caps

Good morning! Today is Tuesday, June 1. The world’s biggest meat supplier has become the latest casualty of a cybersecurity attack, posing a fresh threat to global food security already rattled by the Covid-19 pandemic. Peru on Monday more than doubled its official coronavirus death toll, becoming the country with the highest Covid-19 mortality per capita anywhere in the world. In Thailand and around the world, dogs are being trained to sniff out the coronavirus in people. And in mortgage and housing news … DISAPPEARING SELLERS: Why homes for sale nearly disappeared in these markets.  PRICE GROWTH RISKS: A study finds that sustained home price growth may hold risks for mortgages. RATE CALCULUS: The way mortgage rates are determined explains why everyone gets a different number.…

Mortgage Roundup (5/28/21) – 3%, Cash & Debt

Good morning! Today is Friday, May 28. Memorial Day air travel is set to boom, as a rapidly expanding airline industry rises to meet the demand. Johnson & Johnson and the FDA expect to announce today that contamination problems at the plant are resolved, clearing the way for millions more vaccine doses to become available. NASA is preparing to rocket around 5,000 tardigrades “water bears —” and 128 glow-in-the-dark baby squid into space. And in mortgage and housing news … BELOW THREE: The Mortgage Note reports that the 30-year fixed-rate mortgage average fell below 3 percent for the week again in Freddie Mac’s weekly Primary Mortgage Market Survey. CASH OFFERS: HomeLight products aim to help Texas buyers make cash offers. MORTGAGE DEBT: As home prices soar, so does…

Mortgage Roundup (5/27/21) – Rentals, VA & Market

Good morning! Today is Thursday, May 27. The U.S. is investigating the source of the Covid-19 virus. Google struck a deal with a national hospital chain to develop algorithms to help improve operating efficiency, monitor patients and guide doctors’ decisions. Tasmanian devils are born in the wild on Australian mainland for the first time in 3,000 years. And in mortgage and housing news … COMMISSION DISCLOSURE: Real estate agents hold their breath on the fate of commission disclosure now in the hands of the DOJ. RENOVATION REALITIES: Five harsh renovations realities you will face this summer.   NFT REAL ESTATE: People are selling and buying art, furniture and even houses and land that exist only virtually. RENTALS: A red-hot real estate market is making it hard to find rentals.  INVESTORS: Investors buying real…

Mortgage Roundup (5/26/21) – Prices, Aid & Fire

Good morning! Today is Wednesday, May 26. After the Colonial Pipeline hack, the U.S. will require operators to report cyberattacks. Amnesty International reports that there is a “high probability” that Roman Protasevich, the journalist detained in Belarus after a plane diversion, is being tortured. A new study based on blood samples from hundreds of thousands of people in the United States and United Kingdom finds that human lifespan could double. And in mortgage and housing news … HOME PRICES: The Mortgage Note reports that home prices posted record gains, and over half of the homes that went under contract in February wound up being subject to bidding wars.  DOWN PAYMENT AID: A fight in Congress is looming over down payment aid to close…

Mortgage Roundup (5/25/21) – Refi, Costs & 800

Good morning! Today is Tuesday, May 25. The U.S. issued a warning against travel to Japan due to the country’s rising Covid cases and low vaccination rates. Amazon nears a deal to purchase MGM. The New York City schools will fully reopen in the fall with no virtual option.  And in mortgage and housing news … FORBEARANCE REPORT: The Mortgage Note reports that forbearance levels in the United States continued their decline in the latest report released by the Mortgage Bankers Association. FHFA REFINANCE: FHFA’s new mortgage refinance option could cut payments by hundreds of dollars for some homeowners. MORTGAGE COSTS: Here are the four costs that make up your monthly mortgage payment.   DRIVING FORCES: What factors are driving mortgage rates this week.    MAGIC 800: Do you need an 800 credit score to get…

Mortgage Roundup (5/21/21) – Rates, Volume & Profit

Good morning! Today is Friday, May 21. Israel approves cease-fire plan to end hostilities with Hamas. President Biden signed a bill to address an increase in Asian hate crimes. Tesla drivers are posting videos of themselves overriding safety functions to self-driving modes. And in mortgage and housing news … MORTGAGE RATES: The Mortgage Note reports that mortgage interest rates inched up to three percent.  BIGGER MORTGAGES: Homebuyers are applying for ever bigger mortgages as home prices soar. MORTGAGE VOLUME: Mortgage volume dropped in April. Despite interest rates trending downward across all mortgage products, the decreases did not seem to be enough to bring borrowers — particularly refi borrowers — back to the table.  SELLER PROFITS: Sellers are taking advantage of today’s highly competitive house-hunting environment. Data researchers at…

Mortgage Roundup (5/20/21) – Equity, CFPB & Stocks

Good morning! Today is Thursday, May 20. Investors have shunned riskier assets including bitcoin, dogecoin and ether this week. Europe has agreed to reopen to vaccinated travelers. Massachusetts will lift all Covid-19 restrictions for fully vaccinated people May 29.  And in mortgage and housing news … MORTGAGE APPS: The Mortgage Note reports that mortgage applications increased 1.2 percent for the week, according to the latest report released by the Mortgage Bankers Association. COMMERCIAL REAL ESTATE: Undeterred by empty offices and hotel rooms, investors continue to bet on commercial real estate.   TAPPABLE HOME EQUITY: Home equity is at a record high. Here’s how to tap your house for needed cash.  CFPB COMPLAINTS: Homeowner complaints to federal mortgage regulators have one thing in common. INSURANCE REFORM: Senators still can’t find common ground…

Mortgage Roundup (5/19/21) – Apps, Booms & Value

Good morning! Today is Wednesday, May 19. The FAA reports an alarming increase in unruly passengers and is proposing almost $350,000 in fines this year. The Golden Gate Bridge may soon fix its odd screeching sound. A Tom Brady reality show is coming to Fox TV. And in mortgage and housing news … MORTGAGE APPS: The Mortgage Note reports that the mortgage market was considerably stronger in April than last year at the height of the pandemic. FADING BOOM: A decline in demand is fueling price wars across the mortgage industry and pushing down profits. REFINANCE OPTION: A new refinancing option is coming for low-income homeowners. HOME VALUES: U.S. ZIP codes where the median home price is less than $100,000 have posted a 42% jump in home values in the past…

Mortgage Roundup (5/18/21) – Dip, Rates & Tenants

Good morning! Today is Tuesday, May 18. President Biden joined in calls for a cease-fire, as Israel-Hamas clash rages. Delta Airlines will require new hires to get a Covid-19 vaccine. California won’t lift its mask mandate until June 15.  And in mortgage and housing news … FORBEARANCE REPORT: The Mortgage Note reports that forbearance levels continue to decrease in the United States, the Mortgage Bankers Association said in its latest weekly report. DIP WON’T LAST: Mortgage rates sink deeper below 3%, but experts say the dip won’t last. VANISHING CONTRACTORS: Homeowners and agents across the country can’t find contractors to make repairs and renovations. Why?  TENANT RIGHTS: Colorado’s ambitious tenant rights bill has been whittled down by industry groups. Here’s where it stands. ALL-CASH: The metros where all-cash offers are scoring…