Good Morning! Today is Wednesday, February 23. U.S. truckers plan to embark on a 2,500-mile cross-country drive to DC in protest of coronavirus restrictions. Germany put a stop to an $11 billion Russian natural gas pipeline that would link the two countries. The Supreme Court will hear a case from a web designer who objects to providing services for same-sex marriages. The Mortgage Note Reports Getting A Mortgage Online: Leaders at Bank of America say home loan applications initiated through their Digital Mortgage Experience accounted for 81% of total mortgage applications in 2021. That is up from 45% in 2020. FHFA HPI: Home price appreciation cooled slightly in Q4 2021, with prices rising 17.5% YOY and 3.3% from Q3 2021.…
Good Morning! Today is Tuesday, February 22. In a speech, Putin laid claim to Ukraine as a country “created by Russia.” Prime Minister Boris Johnson lifted all restrictions in England and announced an end to most free testing. A Biden administration plan to reduce drug deaths will include clean-needle exchanges. The Mortgage Note Reports Rental Rates Up By More Than 15%, Adding To Inflation: Monthly asking rates for rentals increased 15.2% year-over-year in January, and some economists say this is accounting for a significant portion of recent inflation. Foreclosures In New Jersey: $10 Million Set Aside To Help: State officials in New Jersey will use $10 million in federal funding to purchase mortgage notes of homes on the verge of…
Good Morning! Today is Friday, February 18. A judge ruled that New York’s Attorney General can question Trump and two of his children under oath about his family business. Tesla accused regulators of harassing Elon Musk over his compliance with a 2018 regulatory settlement that sought to restrict his use of social media. Canadian police began arresting people protesting against Covid-19 mandates. The Mortgage Note Reports Rates Up Again: Mortgage rates jumped to 3.92% this week, their highest since May 2019, and are the result of “high inflation and stronger than expected consumer spending.” Black Knight: Active forbearance plans rose by 11,500 plans (1.5%) last week, following a “typical pattern of mid-month restart activity.” And in other mortgage and housing…
Good Morning! Today is Thursday, February 17. The Education Department will cancel loans for students defrauded by DeVry University. Ukraine accused Russian-backed separatists of shelling a Kindergarten, calling it “a big provocation.” Retail sales rose by a seasonally adjusted 3.8% in January. The Mortgage Note Reports Office Spaces Are Not A Thing Of The Past: Despite many employees working from home and companies adopting hybrid work models, investors are still attracted to the land of cubicles. “Stronger Than Ever”: Real estate investors bought a record 18.4% of all homes sold in Q4 2021, nearly three-quarters of which were all-cash purchases. Climate Damage: More than 14.5 million single- and multifamily homes were impacted by natural disasters in 2021, causing an estimated…
Good Morning! Today is Wednesday, February 16. Republicans boycotted a Senate meeting on Biden’s five nominees to the Federal Reserve, delaying efforts to confirm them. A woman became the third person cured of H.I.V. after using a new treatment. The families of Sandy Hook victims reached a $73 million settlement with Remington. The Mortgage Note Reports UWM Embattled on Multiple Fronts: United Wholesale Mortgage is facing more public scrutiny as court battles — and backlash from brokers — mount. Million Or More: “Million-dollar cities” nearly tripled in 2021, with typical home values reaching at least $1 million in a record 146 new U.S. cities. Credit Availability Drops: Mortgage credit availability fell in January by 0.9% to its lowest level since…
Good Morning! Today is Tuesday, February 15. Russia said it would pull back some troops from around Ukraine. Donald Trump’s accounting firm cut ties with his family business and retracted years of financial statements. The SEC is probing the business of block trading on Wall Street, with subpoenas to firms including Morgan Stanley and Goldman Sachs as well as several hedge funds. The Mortgage Note Reports New Jersey Homeowners Can Apply For Up To $35K In Assistance: Eligible homeowners in New Jersey can receive up to $35,000 to help protect themselves against foreclosures. Multifamily Forecast: Commercial and multifamily mortgage loan originations were up 79% YOY in Q4 and 44% from Q3, while total lending is expected to break $1 trillion…
Good Morning! Today is Monday, February 14. Happy Valentine’s Day. The Los Angeles Rams beat the Cincinnati Bengals in the 56th Super Bowl. A crucial roadway for U.S.-Canadian trade reopened Sunday after authorities cleared a weekend blockade protesting vaccine mandates. “Ghostbusters” producer Ivan Reitman has died at 75. The Mortgage Note Reports Falling In Love With Homes To Have Your Heart Broken?: This Valentine’s Day, if your heart is broken because you keep falling in love with homes to lose them to other buyers, you are not alone. Here’s some advice. Delinquencies Down In Q4: MBA reported that delinquencies on residential properties fell to 4.65% of all outstanding loans in Q4 2021. New Freddie Leaders: Freddie Mac announced that Kevin…
Good Morning! Today is Friday, February 11. Biden is moving to split $7 billion in frozen Afghan funds between 9/11 victims’ families and humanitarian aid in Afghanistan. Congress passed a bipartisan bill giving survivors of sexual misconduct greater rights to sue. Super Bowl LVI is poised to be the most bet upon game in football history as the legalization of sports betting grows. The Mortgage Note Reports Which City Would Win In The Super Bowl Of Housing Markets?: It’s Super Bowl weekend and The Mortgage Note is taking a look at which city would win if Los Angeles and Cincinnati’s housing markets were pitted against each other. Black Knight: Forbearance plans fell by 4% last week, slowing as the number of active…
Good Morning! Today is Thursday, February 10. Chuck Schumer and Nancy Pelosi suggested that they were open to banning members of Congress from trading stocks. Officials have delayed the medal ceremony for team figure skating amid reports that a Russian skater failed a drug test. A former casino executive was sentenced to a year and a day in prison for a bribery scheme to get his daughter into U.S.C. The Mortgage Note Reports Impact Of Labor Numbers On Housing Market Remains Unclear: Despite an uptick in job numbers and an increase in personal incomes, there is still uncertainty about how the latest Labor Statistics Report will impact the housing market. Second Home Demand: Second home demand outpaced primary residence demand…
Good Morning! Today is Wednesday, February 9. New York State will drop its indoor mask mandate this week. Mitch McConnell denounced the RNC’s characterization of Jan. 6 as “legitimate political discourse.” The House passed a bipartisan bill to keep the Postal Service solvent and to reduce mail delays. The Mortgage Note Reports Gearing Up For The Big Game: Leaders at Rocket are inviting people to take a peek at the homes they could buy if they win the world’s largest official game of Super Bowl Squares and they have revealed which stars will appear in their ad. 2022 Expectations: Home price appreciation and stock shortages are likely to continue through the first few months of 2022, as December saw price growth pick back up…
