Good morning! Today is Friday, January 15. President-elect Joe Biden is urging Congress to back a round of $1,400 per-person direct payments and asking for funding for testing and vaccine distribution. Weekly filings for jobless benefits hit the highest level since July. A NASA study reports 2020 and 2016 are the warmest years on record since 1880. And in mortgage and housing news … IPO’D: Even in the middle of an economic recession, IPOs are booming and mortgage companies don’t want to miss out. The mortgage industry at large is at a peculiar crossroads and companies and investors are jumping to cash in on a unique set of circumstances, at least in the short term. GSE NO CHANGE: The Trump Administration announced that…
Good morning! Today is Thursday, January 14. Ten House Republicans joined Democrats to impeach President Trump on charges of “incitement of an insurrection,” making him the first president in U.S. history to be impeached twice. Washington D.C.’s Metro public transportation system will close 13 stations for a week amid threats of inauguration violence. The National Guard asks people to stop sending donations, after photos of National Guardsmen sleeping on the floor of the Capitol spread on social media. And in mortgage and housing news … INAUGURATION BOOKINGS: Vacation rental company Airbnb announced that it is cancelling all booked reservations in the Washington, D.C., metropolitan area during Inauguration week. The online rental site also will take no new reservations in the Capitol region during…
Good morning! Today is Wednesday, January 13. Several senior House Republicans joined the push to remove President Trump, citing his role in inciting an angry mob to storm the Capitol last week. The U.S. will require Covid-19 tests for all international visitors. Federal health officials instructed states to immediately begin vaccinating every American 65 and older, as well as tens of millions of adults with medical conditions that put them at higher risk of dying from coronavirus infection. And in mortgage and housing news … ON THE MOVE: A survey released by Redfin found that two-thirds of U.S. homebuyers and sellers would consider moving (or already have) to a new city if they could work at home on a full-time basis. MORTGAGE CREDIT: The Mortgage…
Good morning! Today is Tuesday, January 12. The Trump administration is putting Cuba on the list of countries that are considered to be state sponsors of terrorism. New England Patriot coach Bill Bellichick says he won’t accept the Medal of Freedom at a White House ceremony, following last week’s Capitol riot. More than a dozen earthquakes have rattled the Southern Appalachian region in the past month. And in mortgage and housing news … MILLION-DOLLAR CITIES: The number of “million-dollar cities” surged significantly last year as home values climbed amid the Covid-19 pandemic, according to a report released by Zillow. FORBEARANCE REPORT: The share of U.S. mortgages in forbearance edged down slightly last week. BIDEN EFFECT: How a Biden administration could affect your mortgage. HOME-BUILDING EMPLOYMENT: Home building employment withstood…
Good morning! Today is Monday, January 11. The U.S. House of Representatives will introduce a resolution today calling on Vice President Mike Pence to invoke the 25th Amendment to declare President Donald Trump “incapable of executing the duties of his office.” The PGA of America has canceled plans to hold a major golf tournament at a Trump Organization golf course in New Jersey next year, citing concern over the organization’s brand. A Colorado family left a $2,021 tip for restaurant staff to split. And in mortgage and housing news … FORBEARANCE FUTURE: Improvement in Covid-related mortgage bailouts drops dramatically along with job losses. This could hit the mortgage market harder in the coming months than previously expected. MORTGAGE DEMAND: Will mortgage application volume…
Good morning! Today is Friday, January 8. U.S airlines and law enforcement agencies bolstered security at Washington-area airports following a Capitol siege that left four dead. Scientists report that the Pfizer-BioNTech vaccine works against a key mutation found in new, fast-spreading coronavirus variants. A disruption in the polar vortex will likely allow colder air to spill out of the Arctic, creating a colder 2021. And in mortgage and housing news … SHRINKING INVENTORY: The number of houses for sale in the United States reached a record low in December, realtor.com reported in its Monthly Housing Trends Report. There were fewer than 700,000 homes for sale in the US for the first time in the report’s history. HUD RESIGNATION: Hunter Kurtz, Assistant Secretary for Public…
Good morning! Today is Thursday, January 7. Congress certified Joe Biden’s Electoral College win hours after rioters breached the U.S. Capitol. A woman who was shot by Capitol Police during the unrest has died.Hundreds of closed Sears department stores across the nation are being used to administer Covid-19 vaccines. And in mortgage and housing news … CAPITOL REACTION: Business groups – including housing and mortgage organizations – were quick to condemn the mob that overran the Capitol as the Congress was working to certify the election of President-elect Joe Biden. AMAZON HOUSING: Amazon announced a $2 billion investment in affordable housing in communities where it has a significant business presence. MORTGAGE APPS: Mortgage applications closed 2020 slightly lower than mid-December, according to the latest weekly survey released by…
Good morning! Today is Wednesday, January 6. The creator of the videogame “Fortnite” bought a North Carolina mall to redevelop into a global headquarters. Students from across the country will have an opportunity to ask questions of NASA astronauts aboard the International Space Station. And in mortgage and housing news … COMPASS LAWSUIT: A California agent has filed a lawsuit against real estate startup Compass, accusing the company of engaging in bait-and-switch tactics to lure high-performing agents away from other companies. VALUE GAP: The value for Black and Latino-owned homes lags behind overall home values, but the gap is narrowing, according to a new analysis released by Zillow. FORBEARANCE REPORT: The total number of mortgages in forbearance remained unchanged in the last Mortgage Bankers Association report,…
Good morning! Today is Tuesday, January 5. The U.K. issued a stay-at-home order until mid-February amid spiraling infection rates caused by a new variant of the coronavirus. The new Covid-19 variant was detected in New York, Colorado and California. Google employees formed a union. And in mortgage and housing news … PACKING UP: Americans packed up the moving vans and fled New Jersey and New York at a higher rate than any other state in 2020, with the U.S. migration patterns continuing to be to the West and South, according to the annual United Van Lines national migration study. MORTGAGE RATES: 30-year rates start 2021 more than a full point below where they were this time last year. That’s a lot. HOCKEYTOWN: United Wholesale Mortgage will be…
Good morning! Today is Monday, January 4. Georgia Senate candidates try to avoid GOP infighting as the final runoff votes are cast tomorrow. The Food and Drug Administration will meet this week to consider giving half-doses of Moderna’s Covid-19 vaccine to people aged 18 to 55. Instead of making an arrest, a Massachusetts police officer bought groceries for two women caught stealing days before Christmas. And in mortgage and housing news … BIDEN IMPACT: What will Joe Biden do to mortgage rates? A few analysts give their predictions. AMERICAN MORTGAGE MACHINE: A lot has to happen to make 30-year mortgages at super-low interest rates possible. Investors should understand what each player in the process does, and what risks they take. NEIGHBORLY: More than two-thirds of those surveyed…
