Good morning! Today is Thursday, April 8. The CDC reports that the UK variant of the Covid-19 virus is now the dominant strain the U.S. The Biden administration is considering an export ban on a Chinese company involved in the development of hypersonic missiles. Researchers say patients who use “Dr. Google” to find out what’s wrong with them will likely get the right diagnosis. And in mortgage and housing news … MORTGAGE APPS: The Mortgage Note reports that mortgage applications slid 5 percent for the week ending April 2 amid higher interest rates, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey. “RESPONSIBLE SERVICERS”: The nation’s consumer protection agency is cracking down on mortgage servicers that don’t assist struggling homeowners. SERVICE QUALITY UPGRADE: The upgrade of Quicken…
Good morning! Today is Wednesday, April 7. President Biden said all adults should be eligible for a Covid-19 vaccine by April 19. A national coalition of small businesses plans to lobby Congress for stricter antitrust laws and enforcement, saying Amazon competes unfairly. A new game show wants to send winners to space. And in mortgage and housing news … FORECLOSURE GLUT: The Mortgage Note reports that the Consumer Financial Protection Bureau is proposing rule changes designed to prevent the 2.5 million Americans still in mortgage forbearance plans from losing their homes when the foreclosure bans expire. COMMERCIAL REAL ESTATE: The 2021 Commercial Real Estate International Business Trends Report discusses the trends in foreign buyer purchases of U.S. commercial real estate in 2020 in the “small commercial…
Good morning! Today is Tuesday, April 6. Treasury Secretary Janet Yellen made a global case for a global minimum corporate tax rate, as she made the case for President Biden’s $2.3 trillion infrastructure proposal. The U.S. will not mandate the use of vaccine passports for travelers or businesses post-pandemic. Supreme Court Justice Thomas argues for making Facebook, Twitter and Google utilities. And in mortgage and housing news … EVICTION BAN: The Mortgage Note reports that ban on evictions is creating short term problems for landlords and have long-term impacts on the quality of the American housing supply. FORBEARANCE: Meanwhile, the number of US mortgages in forbearance fell for the fifth week in a row, The Mortgage Note reports. RATES STEADY: Homebuyers have gotten a reprieve from…
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…
