Good Morning! Today is Thursday, July 29. A bipartisan group of senators are closer than ever to a major infrastructure deal on Capitol Hill. Residents of California are being warned to cut their air conditioning back to take stress off the power grid amid a temperature spike. President Joe Biden says federal workers must be vaccinated or else face regular testing. An Alabama police officer was gunned down in his apartment this week. And in mortgage and housing news…Mortgage Applications Up: The Mortgage Bankers Association said U.S. mortgage application activity jumped this week amid signs of a broader market cool-down. More Help for Veterans: The U.S. Department of Veteran Affairs launched a new veteran mortgage assistance program this week.Locals Face…
Good Morning! Today is Wednesday, July 28. The House select committee on the Jan. 6 Capitol riot held its first hearing yesterday. The CDC says that even vaccinated people should wear masks indoors if the regional spread of COVID-19 is “substantial.” U.S. olympian Simone Biles generated controversy this week when she pulled out of her team’s gymnastic final prior to its conclusion. San Francisco is considering a “congestion tax” on high-earning drivers.And in mortgage and housing news…Home Prices Soar: The average home price in the U.S. soared by nearly 20 percent over the past year, according to the Fair Housing Finance Agency.When Will Housing Boom End? When mortgage rates rise next year, according to one expert.Opportunities for Veteran Homeowners: The…
Good Morning! Today is Tuesday, July 27. The U.S. government will continue to impose COVID-related travel restrictions due to fears of the Delta variant. California is sweltering under a new wildfire that has burned nearly 200,000 acres. A bipartisan $1.2 trillion Senate infrastructure deal has stalled on Capitol Hill. New York City plans to impose mandatory vaccination/testing rules for city workers. American Airlines is warning of potential fuel delivery delays at major airports. And in mortgage and housing news…Forbearance Numbers Continue to Improve: The number of U.S. mortgages in forbearance declined for the 21st straight week last week.Mortgage Help From the White House: The Biden administration has proposed a loan modification program to help homeowners afford their mortgages.Favorable Refinance Rates…
Good Morning! Today is Monday, July 26. Strong storms and possible tornadoes have left destruction across wide swaths of Michigan. COVID cases are continuing to rise across the U.S. as deaths stay flat. Speaker of the House Nancy Pelosi has come under fire from her Catholic archbishop for her vocal support of abortion. The U.S. men’s basketball team lost their first Olympic game since 2004. California is planning a fresh wave of state-level stimulus checks. And in mortgage and housing news…Condos Seeing Spike in Interest: Homebuyers are signaling a growing interest in condominiums as above-asking-price purchases spike over historical rates.Sign of Impending Eviction Crisis? Lower governments have been struggling to distribute billions in rental assistance ahead of the end of…
Good Morning! Today is Friday, July 23. A major Internet outage on Thursday briefly took out many corporate websites including McDonald’s and FedEx. A bipartisan Senate infrastructure deal is inching closer to completion. The White House is reportedly debating whether to urge vaccinated individuals to wear masks amid the Delta variant spike. Multiple California cities are refusing to enforce L.A. County’s new mask mandate. A major “heat dome” is expected to bake the United States next week. And in mortgage and housing news…Weekly Mortgage Trend Continues Downward: Mortgage rates tracked by Freddie Mac are continuing a roughly month-long downward trend.Market Slowdown? Mortgage applications, credit availability, building permits are all down in recent weeks.Home Sales, Inventory Both Increase: Existing home sales edged up 1.4 percent last month, according to the…
Good Morning! Today is Thursday, July 22. Democrats and Republicans are clashing on Capitol Hill over the Jan. 6 Capitol Riot congressional commission. Some experts are urging widespread mask usage once more amid a modest spike in COVID cases. The wildfires in the western U.S. are so large that smoke from them has reached New York City. Netflix lost nearly half a million subscribers over the last quarter. And in mortgage and housing news…Mortgage Applications Down From Last Week: The Mortgage Bankers Association says mortgage applications dropped four percent from last week.…And From Last Year: The number of buyers filing new home purchase mortgage applications decreased by nearly 25% last month compared to last year.Building Permits Dip: The number of building permits requested by contractors dipped by…
Good Morning! Today is Wednesday, July 21. Amazon magnate Jeff Bezos returned safely from his historic spaceflight on Tuesday. The Delta variant makes up an overwhelming majority of new COVID cases in the U.S. Multiple members of the Texas Democratic group in Washington have tested positive for SARS-Cov-2. The wildfire in southern Oregon has grown so large it has begun to affect the local weather. And in mortgage and housing news…Housing Market Outperformed Expectations in June: Housing starts—the number of new homes on which construction was initiated—came in at more than 1.6 million in June, above forecasts of 1.59 million.Refinance Rates Drop Again: Mortgage refinancing rates dropped yesterday after federal officials announced the end of a key refinancing fee. Getting…
Good morning! Today is Tuesday, July 20. Canada is opening its borders to Americans for the first time since March of 2020. The Dow plunged on Monday amid fears of the Delta variant of SARS-Cov-2. A Jan. 6 U.S. Capitol rioter has become the first to be sentenced, earning an eight-month prison term for his actions. Haiti has announced a new prime minister as the country reels from last week’s assassination.And in mortgage and housing news…Rates for 30-year fixed mortgages remain low: Rates declined slightly as the week began, staying below three percent as they have since early June of this year.High material prices continue to spur housing challenges: Though there are signs that building material prices are coming down, high construction prices are still…
Good morning! Today is Monday, July 19. Concerns about the Delta variant of the Coronavirus are putting downward pressure on stock and commodity futures. At least one U.S. gymnast has tested positive for COVID-19. Europe is reeling from a series of landslides. The Biden administration is blaming China for a hack of Microsoft Exchange email server software that compromised tens of thousands of computers around the world earlier this year. And in mortgage and housing news… Mortgage refinances spike: Low interest rates drove a 20% spike in mortgage refinance rates last week, with a declining 30-year fixed rate spurring heavy refi activity. Supply prices down: Wood futures are declining from their dizzying highs earlier this year, signalling potential relief for homebuilders, though…
Good morning! Today is Thursday, June 3. Israeli Prime Minister Benjamin Netanyahu’s rivals agreed to form a new government to oust Israeli leaders. NASA earmarked an initial $1 billion to send the first U.S. probes to Venus in over 30 years to study what made the Earth’s nearest neighbor inhospitable to life. The total number of great white sharks detected along the Cape has ballooned over the last few years as researchers continue to tag more of the big fish. And in mortgage and housing news … MORTGAGE APPS: The housing boom may be cooling as weekly mortgage demand drops again. AMERICAN RESCUE PLAN: Stimulus money for homeowners? How to tap a $10B mortgage relief fund. SQUARE FOOTAGE: Realtors often have to explain to home…
