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…
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…
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.…
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…
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…
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…
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…
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…
