Good morning! Today is Monday, April 5. The Pope called for broad vaccinations in his Easter message. Thousands of Florida residents were evacuated after a reservoir filled with radioactive waste neared collapse. J&J’S one-dose vaccine offers a big advantage in serving transient and homeless people who are difficult to find for second jabs. And in mortgage and housing news … PRISTINE CREDIT: The mortgage market is humming, but getting approved for a home loan is as difficult as it has been in years. RECORD SPEED: Redfin reports that 59 percent of listed houses are under contract within two weeks. YIELD-CHASING INVESTORS: Big investors are snapping up single-family homes, competing with ordinary Americans and driving up prices. SELLER’S MARKET: It’s easy to make money selling property in this…
Good morning! Today is Friday, April 2. More than 11,000 cases of a troubling Covid-19 variant are being reported in the U.S., with the highest numbers in Florida, Michigan and New Jersey. MTV says its programming has stigmatized mental health and vows to change. The Pope told priests to be humble in serving their community. And in mortgage and housing news … MORTGAGE RATES: The Mortgage Note reports that the 30-year fixed-rate mortgage increased for the seventh straight week – but it was a tiny one this week, according to Freddie Mac’s weekly Primary Mortgage Market Survey. PENALTIES: Mortgage companies could face penalties if they don’t take steps to prevent a deluge of foreclosures that threatens to hit the housing market later this year, a U.S.…
Good morning! Today is Thursday, April 1. France orders a nationwide lockdown again after Covid-19 surges. President Biden unveiled a $2.3 trillion infrastructure plan. And no April Fools: Advances in a new supersonic jet will make four-hour flights from New York to London possible. And in mortgage and housing news … FHA PREMIUMS: The Mortgage Note reports Housing and Urban Development Secretary Marcia L. Fudge announced that mortgage insurance on Federal Housing Administration loans will remain the same for the foreseeable future. HOME SALES: The Mortgage Note reports that pending home sales dropped by 10.6 percent in February, with every region of the nation showing significant declines due largely to low inventory, according to a National Association of Realtors report. MORTGAGE APPS: The Mortgage Note reports that mortgage…
Good morning! Today is Wednesday, March 31. All 50 states now have expanded or will expand Covid vaccine eligibility to everyone 16 and up. Google Maps has a new feature that will guide you through indoor spaces like airports. The Bidens’ dog Major has been involved in another biting incident that required medical attention. And in mortgage and housing news … CRYPTOCURRENCY: The Mortgage Note examines tech-forward companies’ including Tesla, MicroStrategies and Square investments in the cryptocurrency, while traditional investors and financial institutions are still approaching Bitcoin with skepticism. NAMING RIGHTS: The Mortgage Note reports that the Miami Marlins have joined the growing trend of selling naming rights to banks or mortgage companies, as media reports say the Marlins ballpark will be known as…
Good morning! Today is Tuesday, March 30. Covid-19 hospital cases are rising in 25 states. The Super Moon tide helped free a cargo ship blocking the Suez Canal. U.S. church membership dropped below 50 percent for the first time, according to an 80-year-old Gallup poll. And in mortgage and housing news … EVICTION BAN: The Mortgage Note reports that the Consumer Financial Protection Bureau and the Federal Trade Commission issued a warning to landlords to “stop illegal evictions” during the Covid-19 pandemic. HUD GRANTS: The Mortgage Note reports that the US Department of Housing and Urban Development will allocate $450 million in housing block grants to support affordable housing, as well as another $5 million for Native Hawaiians. ROCKET PHILANTHROPY: Rocket Mortgage is making a $500 million…
Good morning! Today is Monday, March 29. Public health experts say they are racing to vaccinate to stay ahead of Covid virus variants. A cargo ship remains stuck in the Suez Canal after a week with a backup of hundreds of ships waiting to pass through. The pandemic is fueling a virtual reality travel boom. And in mortgage and housing news … NONBANK LENDING: Online payments specialist PayPal is now the biggest non-bank lender after experiencing a boom in demand for services through the Covid-19 pandemic. BORROWER BREAK: A break for borrowers? Spiking mortgage rates may be stalling, experts say. HOUSING HEAT INDEX: A new study finds that Utah is the hottest housing market in the country, with historically low inventory. FLOOD INSURANCE: New York Senator Chuck Schumer…
Good morning! Today is Friday, March 26. In his first news conference, President Biden called for changes to the legislative filibuster and defended his border policy. Executives of Facebook, Twitter and Alphabet appeared before a House panel, where they faced questions about social media’s role in spreading disinformation. Pfizer begins testing a Covid-19 vaccine on children. And in mortgage and housing news … BROKER WARS: The Mortgage Note reports that United Wholesale Mortgage CEO Mat Ishbia went on CNBC to assert he is the good guy in the Broker Wars by standing up for brokers and “for what is right.” MORTGAGE RATES: The Mortgage Note provides the latest news on the sixth straight mortgage interest rate hike. BITCOIN: Lenders are accepting bitcoin as a down payment for home…
Good morning! Today is Thursday, March 25. Vice President Kamala Harris will be the White House’s point person on immigration issues amid a surge at the southern border. Pope Francis has ordered cardinals to take a 10 percent pay cut and reduced the salaries of most other clerics working in the Vatican in order to save employees’ jobs. You can now buy a Tesla with bitcoin, but it will be taxed at a higher rate. And in mortgage and housing news … BROKER WARS: In the 10th installment of the Broker War Chronicles, The Mortgage Note reports that like Rocket Mortgage, Fairway Independent Mortgage cites increased interest from brokers after United Wholesale Mortgage launched the Broker Wars. MORTGAGE APPS: The Mortgage Note reports that mortgage applications slid 2.5…
Good morning! Today is Wednesday, March 24. The suspected gunman in the Boulder shooting has been charged with 10 counts of first-degree murder. The U.S. Postal Service will unveil the largest rollback of consumer mail services in a generation, including longer mail delivery times, reduced post office hours and higher prices. Prince Harry will start a job at a Silicon Valley startup. And in mortgage and housing news … 8-MINUTE APPROVAL: The Mortgage Note reports that the personal finance app Mint and Rocket Mortgage announced an expansion of their partnership that allows Mint users to get approved to purchase home entirely digitally in as few as eight minutes. IMBs: The Mortgage Note reports that independent mortgage banks and mortgage subsidiaries of charter banks again saw…
Good morning! Today is Tuesday, March 23. President Biden’s economic advisers are preparing a $3 trillion spending package aimed at boosting the economy, reducing carbon emissions and narrowing economic inequality, financed in part by tax increases. New Jersey leads the nation in the number of new Covid-19 cases with many others experiencing a resurgence. More states are expanding vaccine eligibility after nearly 25 percent of the population receives at least one dose. And in mortgage and housing news … FORBEARANCE REPORT: The Mortgage Note reports that the number of U.S. mortgages in forbearance dipped to 2.5 million in the latest survey released by the Mortgage Bankers Association. COOL DOWN: The first signs that higher mortgage rates are cooling the hot housing market. CHEAP DEPOSITS: What’s driving…
