Good Morning! Today is Thursday, Aug. 26. Reports of a looming terror attack at the airport in Kabul has added new chaos to U.S. evacuation efforts. House Democrats are putting together a sprawling, $3.5 trillion spending bill that targets climate change, poverty, college financial aid and Medicare. Delta Airlines is charging unvaccinated employees $200 more on their health plans. A federal judge in Michigan sanctioned pro-Trump lawyers who sued officials over alleged voter fraud. And in mortgage and housing news… Mortgage Rates Hold Steady: Freddie Mac announced Thursday morning that mortgage rates were essentially unchanged, at 2.87 percent. “Throwing Money At The Problem”: Neat Capital is offering refinance and mortgage applicants a $500 discount if they’re vaccinated. LA Eviction Moratorium Upheld:…
Good Morning! Today is Wednesday, Aug. 25. President Biden doubled down on the Aug 31 Afghan deadline while the Taliban blocked airport access. House Democrats passed a $3.5 trillion budget blueprint and voted to strengthen federal oversight of state election laws, a move that will likely provoke a filibuster in the Senate. A new Suffolk University poll finds Biden’s approval rating down to 41 percent. And in mortgage and housing news… Mortgage Applications Up: Mortgage applications increased 1.6% this week, along with an influx of refinance applications, according to the MBA’s weekly report. Rent Aid Funding Dragging: Just $1.7 billion in funds intended to prevent eviction were disbursed in July. The New York Times reports: “The money meted out was…
Good Morning! Today is Tuesday, Aug. 24. The FDA has fully approved Pfizer’s Covid-19 vaccine. The Pentagon and several major companies and universities announced new vaccine mandates, and President Biden urged others to follow suit. The officer who shot January 6 rioter Ashli Babbitt has been cleared of wrongdoing by Capitol Police. Kathy Hochul was sworn in as governor of New York during a midnight ceremony. Bitcoin is back on the rise, trading above $50,000 Monday. And in mortgage and housing news… MBA Forbearance Numbers: The total number of loans now in forbearance decreased by 1 basis point from 3.26% of servicers’ portfolio volume in the prior week to 3.25%, according to the MBA’s latest Forbearance and Call Volume Survey. Lending Startup Scores: Orlando tech…
Good Morning! Today is Monday, Aug. 23. As violent scenes outside the Kabul airport continue, President Biden has said his administration could extend the August 31 deadline for removing American troops. Tropical storm Henri made landfall in New England yesterday. A group of nine House Democrats published an op-ed in the Washington Post urging Speaker Pelosi to pass the bipartisan infrastructure deal and “take the win” rather than tie it to the $3.5 trillion additional spending plan. And in mortgage and housing news… Existing Home Sales Up in July: Existing-home sales rose in 2.0 percent in July, marking two consecutive months of increases, the National Association of Realtors® reported Monday.The median existing-home sales price rose at a year-over-year pace of 17.8 percent.…
Good Morning! Today is Thursday, Aug. 19. Global criticism of the Biden administration is growing over its handling of the Afghanistan fiasco. The Taliban is strengthening its hold on the country and its capital of Kabul. An appeals court has ruled in Texas’s favor over some of the state’s abortion regulations. The recall election of California Gov. Gavin Newsom is looming. Hurricane Grace is intensifying and threatening Mexico’s Yucatan Peninsula.And in mortgage and housing news…Down Across the Board: Mortgage applications have dropped by weekly, monthly and yearly metrics this week.Pocket Money Portfolio: A new startup lets aspiring investors drop $10 to take part in a retail portfolio.Senate Seeks Housing: A new bill proposed in the U.S. Senate seeks to spur affordable…
Good Morning! Today is Wednesday, Aug. 18. Bitter debating continues over the ultimate responsibility for the Taliban’s success in Afghanistan. Texas Gov. Greg Abbott has tested positive for COVID-19. Wildfires continue to blaze out of control in northern California. New Zealand has shut down the entire country over a single COVID case. Tropical Depression Fred is posing severe weather threats for the southeastern United States.And in mortgage and housing news…Mortgage Applications Plummet: Applications declined by a whopping 27 percent relative to a year ago, slipping four percent month-over-month.The Future of Homebuying? A disruptive direct-buyer-to-seller platform is raising millions in capital as it grows in popularity.Where the Money’s Gone: Why millions in federal rental assistance has failed to reach renters and…
Good Morning! Today is Monday, Aug. 16. The Taliban have effectively conquered Afghanistan with the taking of the country’s capital of Kabul on Sunday. The Biden administration has come under withering criticism for its handling of the U.S. troop withdrawal there. The Texas Supreme Court ruled in Gov. Greg Abbott’s favor and temporarily blocked local mask mandates there. Florida is under threat from Tropical Storm Fred. Haiti is reeling from a major earthquake there that has resulted in over 700 fatalities. And in mortgage and housing news…Cooldown Summer Continues: Home sales continue to dip throughout the country as the real estate market cools off.A Good Quarter for Rocket: Major lender Rocket Mortgage saw big stock gains after its Q2 report…
Good Morning! Today is Friday, Aug. 13. The Taliban is sweeping across Afghanistan in the wake of the U.S. troop withdrawal. The FDA has approved a third COVID vaccine shot for vulnerable patients. COVID hospitalizations continue to increase. The U.S. Census showed a decline in white Americans for the first time in the country’s history. A heat wave continues to scorch large parts of the country. And in mortgage and housing news…Rates Up: Mortgage rates increased for the first time in nearly two months following promising economic news. Rocket Offers New Home Services: Rocket Companies is offering a new ‘Homes’ tool that seeks to integrate the buying/selling process. Getting Ahead of the Crisis: Massachusetts is considering a law that would …
Good Morning! Today is Thursday, Aug. 12. Bitter fights are breaking out at school boards across the country over district mask mandates. Arrest warrants have been taken out for Democrats who fled Texas in protest to an election reform bill. Europe is sweating under a massive heatwave. A judge has offered congressional Democrats restricted access to former President Donald Trump’s financial records. The NSA will reportedly be subject to internal review over allegations it spied on Fox News host Tucker Carlson.And in mortgage and housing news…Applications Go Up, Again: Mortgage applications increased once more in a continuing seesaw trend that has lasted weeks.Legal Fight Ahead: A U.S. senator has introduced a resolution to repeal the CDC’s current eviction moratorium.Big Gains: The…
Good Morning! Today is Wednesday, Aug. 11. New York Gov. Andrew Cuomo resigned on Tuesday amid ongoing investigations into his alleged sexual misconduct. Kathy Hochul will become New York’s first female governor. The Senate has passed a long-awaited $1 trillion infrastructure bill. Senators also passed a larger $3.5 trillion budget blueprint. U.S. airlines have announced they will not require vaccines for workers. The California Dixie Fire continues to rage. And in mortgage and housing news…Stock Up: Housing stock increased last month, a sign of possible price relief for homebuyers in the near future. Heading Off a Crisis? Some courts are hoping to counteract a potential eviction crisis ahead of the end of the current moratorium.Go Big and Go Home: A major mortgage executive urges brokers to pursue “jumbo” loans amid…
