Morning Roundup (10/22/2021)– “Lull” In Forbearance Drops, Eviction “Tsunami” Still Elusive

Good Morning! Today is Friday, October 22. The CDC endorsed a “mix and match” strategy for distributing Covid-19 vaccine boosters. President Biden said he was open to ending the filibuster in order to pass bills on the debt limit and voting rights. A woman was killed on a Western film set when Alec Baldwin fired a prop gun. And in mortgage and housing news… Black Knight: The number of loans in active forbearance fell 0.6% since last Tuesday, entering an expected, mid-month period of “lull”. “Eviction Tsunami” Still Elusive: As federal protections ended, housing activists warned a “tsunami” of evictions would follow. Where is it? Counties Face Pandemic Damage: Some housing markets at the county level are still susceptible to damage from the pandemic, according to a new report from…

Morning Roundup (10/21/2021)– Rates Climb, MBA Warns Of “Aggressive” Regulation

Good Morning! Today is Thursday, October 21. U.S. unemployment claims fall to a new pandemic low of 290,000. The gunman in the Parkland school shooting pleaded guilty to 17 counts of murder. Donald Trump is launching a new social media platform, TRUTH Social. And in mortgage and housing news… Freddie Mac: Mortgage rates continued climbing, hitting 3.09% over the past week, Freddie Mac reported. “In Front Of Every Fight”: MBA President and CEO Bob Broeksmit said that “aggressive” federal regulation is back but that the MBA would fight tax hikes on mortgage servicing. Advocates Rally For “Robust” Spending: Housing stakeholders gathered at the capitol to call for the budget reconciliation package being negotiated in Congress to substantially represent housing.  Runaway Demand: …

Morning Roundup (10/20/2021)– Applications, Refis Tank

Good Morning! Today is Wednesday, October 20. The White House announced a plan to vaccinate 28 million children between the ages of 5 and 11. Kidnappers in Haiti are demanding $1 million per person for 17 members of a U.S.-based missionary group. Southwest Airlines has dropped its plan to put unvaccinated workers on unpaid leave starting in December. And in mortgage and housing news… Applications Down: Mortgage loan application volume fell 6.3% last week while refis hit their lowest level since July. Rocket Enhancements: Rocket Mortgage’s Rocket Pro TPO announced tech changes to help brokers grow and strengthen their businesses. Ex-UWM Exec Joins Scott Griffin: Scott Griffin Financial has announced that former UWM exec Judie Levitt has joined its senior…

Morning Roundup (10/19/2021)– Zillow Takes A Break, Red States See White-Hot Markets

Good Morning! Today is Tuesday, October 19. DC suspended half of its metro trains after a series of derailings. Lawmakers accused Amazon leadership of misleading or lying to Congress about its business practices. Democrats looking for funding for Build Back Better are bringing back the idea of a carbon tax. And in mortgage and housing news… Red States See Biggest Home Price Jumps: The housing market in red states is white-hot compared to their blue counterparts. Here’s why. LendingHome New CRO: LendingHome announced that senior executive Carrie Weber has joined the company as chief risk officer. Zillow Offers Taking A Break: Zillow’s home-flipping business, Zillow Offers, will stop signing new contracts in order to address renovations on homes it already…

Morning Roundup (10/18/2021)– New Listings Down, Home Prices To Rise In 2022

Good Morning! Today is Monday, October 18. An FDA advisory panel recommended booster shots for recipients of the J&J vaccine. Gang members in Haiti kidnapped as many as 17 missionaries and their families. Former Secretary of State Colin Powell has died. And in mortgage and housing news…  September New Listings Down: New listings fell 9% year-over-year, while closed home sales fell 5%. Predicting The Future: Fannie Mae’s ESR group said it expects mortgage rates and home prices to rise in 2022. Originations Set To Break Records: Purchase mortgage originations are expected to grow 9% to a new record of $1.73 trillion in 2022, according to the MBA. Housing Permits Up: Residential single-family housing permits are up by more than 25% …

Morning Roundup (10/15/2021)– Forbearances Still Falling, UWM Backpedals On Crypto

Good Morning! Today is Friday, October 15. An FDA panel recommended booster shots for high-risk Moderna recipients. LinkedIn is shutting down in China, the last major social network to shutter there. Retail sales rose a seasonally adjusted 0.7% in September from the month before, the U.S. Commerce Department said. And in mortgage and housing news…  Black Knight: Forbearances dropped another 10% this week, and they are now at their fastest rate of improvement since the pandemic began. Was Ishbia’s Crypto Move a ‘Stunt?’: After accepting just six cryptocurrency mortgage payments, UWM has signaled it’s not ready to do more. Millennials Vs. Boomers: A Zillow report found Millennials and Boomers are competing for housing, and Boomers are winning. Redfin: The number…

Morning Roundup (10/14/2021)– Rates Top 3%, 60% Of Single Women Don’t See Homeownership In Future

Good Morning! Today is Thursday, October 14. Interior Secretary Deb Haaland announced plans to line U.S. coastlines with wind farms. The Energy Information Administration predicts that home heating costs will go up because fuel prices are rising and fuel demand has increased over the previous winter. Democrats are still butting heads over what to cut from President Biden’s $3.5 trillion legislation, with Bernie Sanders saying Medicare benefits are non-negotiable.  And in mortgage and housing news… Interest Rates Top 3%: Mortgage rates rose their highest point since April, hitting 3.05% over the past week, Freddie Mac reported.“Forbearance Cliff?”: Housing advocates have warned of a flood of forbearance filings. So far there’s no sign of it, and analysts don’t see it coming.Homeownership…

Morning Roundup (10/13/2021)– Refis Down, Application Volume Slightly Up

Good Morning! Today is Wednesday, October 13. IMF’s latest World Economic Outlook report listed Covid-19 vaccination as a top priority. Texas Gov. Gregg Abbott banned vaccine requirements for employees, including in hospitals. President Biden hasn’t nominated anyone to replace Randal Quarles as The Fed’s vice chairman. And in mortgage and housing news… Refis Down, Loans Up: Mortgage loan application volume ticked up 0.2% last week, as refinance applications fell 16% year-over-year, according to the MBA. MCAI Rises: Mortgage credit availability rose by 1.5% in September, according to MBA’s Mortgage Credit Availability Index. Delinquencies Leveling Out: Delinquencies are closing in on pre-pandemic levels, with serious delinquencies at their lowest level since May 2020, CoreLogic reported. Closing Costs: The average closing cost…

Morning Roundup (10/12/2021)– Forbearances Keep Falling, Affordability Improved In August

Good Morning! Today is Tuesday, October 12. Workers are heading back to the office at the highest rate since the pandemic began. Southwest Airlines canceled more than 28% of its weekend flights, including hundreds on Monday. Matt Amodio’s historic run on “Jeopardy!” came to an end Monday night, leaving the Yale doctoral student with 38 wins and more than $1.5 million in prize money. And in mortgage and housing news… Forbearances Fall: Forbearances plummeted to 2.62% of servicers’ portfolio volume last week, down from 2.89% the week before, according to the MBA. Analysis: Do low-income buyer programs help or hurt? Economists are raising questions about the real-world impact of some government programs designed to help low-income buyers enter the market.NAR:…

Morning Roundup (10/8/2021)– 12-Month High In Forbearance Declines, HPSI Falls

Good Morning! Today is Friday, October 8. Senate Republicans and Democrats reached a deal to temporarily extend the debt ceiling through December. Tokyo was hit by a 6.1 magnitude earthquake. Ireland signed onto a global agreement to set a minimum 15% corporate tax rate. And in mortgage and housing news… Black Knight: The number of plans in active forbearance fell by 11% since last Tuesday, the largest weekly decline in twelve months. HPSI Drops: Fannie Mae’s HPSI fell 1.2 points to 74.5 in September, as consumers continued to report that housing prices make it a bad time to buy a home. Housing Affordability Concerns Nationwide…: The latest Market Pulse report shows troubling trends in housing affordability. …And in California: A …