Good morning! Today is Thursday, December 31. Happy final day of 2020! A new, more contagious variant of the coronavirus was detected in Colorado and Southern California. Alaska Airlines becomes first major US airline to ban emotional support animals. New York officials will allow fans to attend the Buffalo Bills playoff game. And in mortgage and housing news … HOME SALES: Pending home sales declined for the month in November but remained significantly higher than a year earlier, according to a new report released by the National Association of Realtors. SMALL-DOLLAR MORTGAGES: The COVID-19 pandemic has made it more difficult for borrowers to find lenders willing to make small-dollar mortgages of $100,000 or less. MULTI-GENERATIONAL LIVING: How the real estate market has been changed in 2020 by multigenerational living. TEXAS…
Good morning! Today is Wednesday, December 30. U.S. Covid-19 hospitalizations have hit a new high. Florida, Ohio and Texas prioritize elderly over essential workers for Covid vaccine, bucking federal advice.NASA approved two missions to better understand space weather. And in mortgage and housing news … PRICES, SALES UP: Home prices surged 14 percent and pending home sales were up 34 percent year over year for the four-week period ending December 20, according to a report released by Redfin. RATE PREDICTIONS: Will mortgage rates go up or down in January 2021? HOUSING RELIEF: The National Association of Realtors championed several provisions within the COVID-19 relief measure, including rental assistance, extended unemployment, and small business assistance. EQUITY BOOM: Homeowners enjoyed the largest year-over-year home equity gain in six years during the third quarter.…
Good morning! Today is Tuesday, December 29. The holiday surge in coronavirus cases will likely result in extended stay-at-home orders for Southern California and other areas, as intensive care beds remain in dangerously short supply. Coronavirus vaccine passports are being developed for travel in 2021. A machine learning algorithm has counted more than 100,000 craters on the moon. And in mortgage and housing news … APPRAISAL INPUT: The Federal Housing Finance Agency requested input on potential changes to “appraisal-related policies, practices and processes.” NY EVICTIONS: The New York state legislature voted to stop evictions until May 1. What you need to know. HOUSING COST: The average American spends $1,674 a month on housing, but is that too much? URBAN EXODUS: Homeowners aren’t fleeing cities in droves despite Covid-19.…
Good morning! Today is Monday, December 28. President Trump signed the Covid economic stimulus and relief bill into law. Law enforcement confirmed that the suspect in the Nashville Christmas Day bombing died in the explosion. Oxford University scientists successfully turned CO2 into jet fuel, raising the possibility of conventionally-powered aircraft with net zero emissions. And in mortgage and housing news … HOME PRICES: Home prices increased 1.5 percent in October – and were 10.2 percent higher than October 2019 levels, according to a report released Wednesday by the Federal Housing Finance Agency. MORTGAGE APPS: Mortgage applications inch higher. MORTGAGE RATES: Mortgage rates slip to a 16th record low. Freddie Mac sees COVID-19 numbers and vaccinations as the key drivers near-term. MULTIFAMILY FORBEARANCE: The Federal Housing Finance Agency announced that…
Good morning! Today is Wednesday, December 23. President Trump slammed the recently passed $900 billion COVID-19 relief package, and demanded that Congress amend the bill to increase direct payments to Americans. States impose the strictest lockdowns on businesses and social gatherings since spring in an effort to prevent a holiday-fueled coronavirus surge. A Canadian gold miner unearthed a mummified Ice Age wolf puppy. And in mortgage and housing news … STREAK OVER: Existing home sales decline in November. RESOLUTION PLANNING: FHFA announces proposed a new rule on living wills for GSEs. FORBEARANCE REPORT: The number of mortgages in forbearance increased slightly. REBOOTED PPP: The rebooted PPP includes changes on issues such as eligibility for second-time applicants. BEFORE YOU BUILD: Here’s what you should know about construction loans. HISPANIC HOMEOWNERSHIP: Realogy spotlights how the Hispanic population…
Good morning! Today is Tuesday, December 22. Americas will get stimulus checks as soon as next week, following an agreement passed by Congress. Travel from the U.K. is shut down as nations assess the threat of a new strain of the coronavirus. Record e-commerce and Covid-19 outbreaks are straining the Postal Service’s ability to deliver Christmas presents on time. And in mortgage and housing news … HOUSING RELIEF: The new $900 billion stimulus package agreed to by Congressional leaders includes additional housing relief, but an advocate is warning that more assistance may be needed after the new year. RELOCATIONS: The pandemic – and the adoption of remote work – is driving an increased number of relocations, with the most people leaving the biggest metropolitan…
Good morning! Today is Monday, December 21. Members of Congress struck a deal on a nearly $900 billion virus relief package. A CDC advisory group recommends that the next COVID-19 vaccinations be given to older adults and front-line essential workers, like fire, EMT, food manufacturers, grocery and public transit employees, teachers, postal workers. Jupiter and Saturn will appear closer in the night sky tonight than they have in nearly 400 years. And in mortgage and housing news … MORTGAGE RATES: Mortgage rates have tumbled to a new all-time low, falling to a 2.67 percent, according to the weekly Primary Mortgage Market Survey released by Freddie Mac. GSE SAGA: Without appropriate oversight, Fannie Mae and Freddie Mac could easily repeat the mistakesthat put them in…
Good morning! Today is Friday, December 18. Members of Congress are rushing to complete a $900 billion Covid-relief package. California is the latest coronavirus epicenter, setting back-to-back nationwide records for new cases and running out of hospital beds. More than three million internet users are believed to have installed 15 Chrome and 13 Edge extensions that contain malicious code. And in mortgage and housing news … TOO SLOW: Homebuyers surveyed said the closing process in homebuying is frustratingly long. HOME DEPOT: Home Depot will pay $20.75 million under a proposed settlement after its contractors in states across the country allegedly failed to take proper steps to reduce the spread of lead dust and paint chips during renovations. GSE LIQUIDITY: The Federal Housing Finance Agency announced a proposed…
Good morning! Today is Thursday, December 17. In an anti-trust lawsuit, Google is accused of enlisting Facebook to manipulate digital ad markets. The U.S. is preparing to charge a new suspect in the 1988 Lockerbie bombing. A nor’easter is blasting the Northeast with heavy snow. And in mortgage and housing news … MULTIFAMILY INVESTMENT: The Freddie Mac Multifamily Apartment Investment Market Index rose by 1.9 percent in the third quarter, meaning there were more attractive investment opportunities in the multifamily market. MORTGAGE APPS: Mortgage applications for new home purchases in November jumped by 34.7 percent over a year ago, according to a report released by the Mortgage Bankers Association. INTEREST RATES: The Fed left interest rates alone at its final meeting of 2020 but pledged to keep doing whatever…
Good morning! Today is Wednesday, December 16. Congressional leaders appeared to make progress toward funding the government and sending another round of coronavirus relief in the next week. The FDA authorized the first over-the-counter, rapid home virus test. L.A. Unified Schools will not be giving F’s this school year due to Covid disruptions. And in mortgage and housing news … RENTAL DEAL: The parent company of realtor.com announced it will take a bigger role in the rental market with the acquisition of Avail, a company that helps landlords across the country manage their rental properties. 2021 PREDICTIONS: Redfin released its top 10 predictions for the 2021 housing market. GSE CONSERVATORSHIP: Shares of mortgage giants Fannie Mae and Freddie Mac plunged after the White House signaled it won’t free…
