Good morning! Today is Monday, May 10. Americans are relieved as rocket debris is reported to have splashed down in Indian Ocean west of Maldives. SpaceX accepted Dogecoin as payment to launch ‘DOGE-1 mission to the Moon’ next year. Kentucky Derby winner Medina Spirit failed a postrace drug test, trainer Bob Baffert said, raising the prospect of a disqualification in horse racing’s marquee event. And in mortgage and housing news … FADING BOOM: A decline in demand is fueling price wars across the mortgage industry, pushing down profits and spooking the shareholders of firms that went public during the lending boom. SEVERE WEATHER: There are more reasons this year to check your homeowners insurance. ROCKET AUTO: Rocket Mortgage Company is adding auto loans to its future e-commerce…
Good morning! Today is Friday, May 7. New York City is pitching free vaccines for tourists to spur economic recovery. There’s a chicken shortage, and restaurants can’t keep up with demand. South Florida’s population growth slowed sharply as people moved away or died during the pandemic. And in mortgage and housing news … MORTGAGE RATES: The Mortgage Note reports that mortgage rates dropped slightly again, remaining under 3 percent for the week. HOME VALUES: Homeowners aged 62 and older saw their collective housing wealth increase in Q4 2020 by 3 percent compared to the previous quarter. CONSUMER BEEF: New CFPB reports show that overall consumer complaints about their mortgage complaints have climbed to their highest levels in three years. MAKING MONEY: Where are home seller profits the highest? NEW HOMES: Newly built…
Good morning! Today is Thursday, May 6. The U.S. birth rate has dropped significantly. The Pentagon is tracking an out-of-control Chinese rocket expected to crash into Earth this weekend somewhere over the Pacific Ocean. And in mortgage and housing news … EVICTION BAN: The Mortgage Note reports that a federal court tossed the CDC’s ban on evicting tenants who do not pay their rent during the Covid-19 pandemic, saying the health agency lacks the authority to issue such a moratorium. MAY DAYS: ATTOM Data Solutions’ researchers analyzed 40.1 million home sales from 2011 to 2020. Home sellers, on average, saw a 13.4% above estimated market value when selling in May—the highest of any other month. RESHAPED REAL ESTATE: The Covid retreat from urban centers has been…
Good morning! Today is Wednesday, May 5. President Biden set a new goal of administering at least one Covid-19 vaccine dose to 70% of the US adult population by July 4. Facebook’s independent Oversight Board will decide whether to uphold or reverse Facebook’s indefinite ban on former President Donald Trump. New York, New Jersey and Connecticut are pushing ahead with May 19 reopening plans, and the NYC subway will return to 24-hour service. And in mortgage and housing news … FORBEARANCE: The Mortgage Note reports that the number of US mortgages in forbearance sits at 2.23 million borrowers. CONSTRUCTION LOANS: In a guest editorial, The Mortgage Note takes a look at VA construction loans. LENDING BOOM: Lenders awash in cheap funding face no credit issues for now, but…
Good morning! Today is Tuesday, May 4. President Biden is raising the refugee admissions cap to 62,500, after facing blowback for backing away from that number amid a surge of migrants crossing the southern border illegally. The next generation of the Covid-19 vaccine could be a pill or spray. Bill Gates, co-founder and former CEO of Microsoft, said in a tweet that he and his wife, Melinda Gates, will be splitting up after 27 years. And in mortgage and housing news … EVICTION BAN: The Mortgage Note reports on the federal government sending letters to the nation’s largest apartment landlords warning them to honor federal rules preventing renters from being evicted for non-payment of rent during the pandemic. COMMERCIAL DELINQUENCIES: The Mortgage Note reports…
Good morning! Today is Monday, May 3. As the U.S. began withdrawing troops from Afghanistan, Taliban forces launched a rocket attack on Kandahar airfield. A SpaceX capsule with four astronauts returning from the International Space Station splashed down safely in the Gulf of Mexico. Medina Spirit won the 147th running of the Kentucky Derby, kicking off the 2021 race for the Triple Crown. And in mortgage and housing news … NAVIGATING 2021: How to budget, prepare for bidding wars and surging prices when buying a home in 2021. FAIR HOUSING ACT: The Department of Housing and Urban Development charged a California mortgage modification service with discrimination. The complaint reflects HUD’s focus on “fair servicing” in addition to fair lending. NY RECOVERY: The New…
Good morning! Today is Friday, April 30. A global shortage of semiconductors is disrupting production of iPads and MacBooks. In an effort to cut down on corruption among Vatican employees, Pope Francis instituted a new policy that prohibits them from receiving any work-related gift with a value over $48. Two in three Americans surveyed feel more alone than ever before, many admit to crying for first time in years. And in mortgage and housing news … BELOW THREE: The Mortgage Note reports that mortgage rates inched up ever so slightly this week to 2.98 percent. HOME SALES: Pending home sales are rising less than expected in March as prices soared. BIDEN TAX HIKE: President Biden’s proposed tax hikes could be a double-edged sword for real estate. What…
Good morning! Today is Thursday, April 29. Federal investigators seized former New York City Mayor Rudy Guiliani’s electronic devices as part of a probe into possible violation of foreign-lobbying rules. The TSA wanted 6,000 new officers by summer, but most positions remain unfilled as airlines expect a passenger surge. Microsoft is retiring its default font Calibri, and it wants your help choosing a new one. And in mortgage and housing news … FHFA REFINANCE OPTION: The Mortgage Note reports on a new Federal Housing Finance Agencyrefinance option that will provide low-income borrowers with reduced interest rates and lower monthly payments. APPLICATIONS: Mortgage applications declined slightly for the week, the Mortgage Note reports. UWM OUSTED: Guaranteed Rate ousts United Wholesale Mortgage as top prime non-agency Mortgage Backed…
Good morning! Today is Wednesday, April 28. The CDC says fully vaccinated Americans don’t need to wear a mask outside, except in crowded settings. Health officials in India say the country has more than a half billion Covid cases. For the first time in 25 years, a gray horse is favored to win the Kentucky Derby. And in mortgage and housing news … FORBEARANCE REPORT: The Mortgage Note reports that the share of US mortgages in forbearance edged down ever so slightly last week, with 2.25 million American homeowners still in forbearance plans. HOUSE PRICES: The Mortgage Note reports the nation’s house prices continued to climb in February across the nation and in every region, according to the latest House Price Index released by the Federal…
Good morning! Today is Tuesday, April 27. The new census shows that the U.S. population grew at the second lowest pace in history. Californians gathered enough signatures to force a recall election of Gov. Gavin Newsom. The pink Super Moon set this morning – the first of two Super Moons in 2021. And in mortgage and housing news … UWM ISHBIA SUED: The Mortgage Note reports that a Florida real estate broker filed a federal lawsuit against United Wholesale Mortgage’s parent company and CEO Mat Ishbia over the launching the Broker Wars. FED ACTION: What to know about how the Federal Reserve’s actions affect mortgages. INSURANCE COSTS: Insurance costs threaten Florida’s real estate boom. LOWER PAYMENTS: Five ways to lower your monthly mortgage payment. ESCALATION CLAUSE: Builders are trying…
