Good morning! Today is Thursday, November 19. The New York City will close schools for in-person learning to curb Covid outbreak, while indoor dining and gyms remain open. The surge in coronavirus cases worldwide is helping researchers measure more quickly how well their vaccines protect against Covid-19. After 20 months of making changes in the jet’s software, design and training following two fatal crashes, the FAA cleared the Boeing 737 Max to fly again. And in mortgage and housing news … PROTESTS IMPACT HOUSING: More than a third of Americans living in cities say that protests this year have made them move elsewhere – or have already moved, according to a new survey released by Redfin. MORTGAGE APPS: Mortgage applications held largely steady again, with…
Good morning! Today is Wednesday, November 18. The FDA granted emergency approval to the first coronavirus test that delivers rapid results at home. Retail sales inched up with the holiday season approaching. Amazon launched an online pharmacy business. Oreo plans to release gluten-free cookies in 2021. And in mortgage and housing news … MULTIFAMILY LOAN PURCHASE CAPS: The 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac will be $140 billion – or $70 billion for each Fannie and Freddie. BIDDING WARS: Homebuyers across the nation still faced bidding wars in October. FED NOMINATION STALLED: GOP senators didn’t secure enough votes to move forward with Judy Shelton, the Trump Federal Reserve Board nominee and outspoken central-bank critic TRUMP BANK WATCHDOG: Trump is expected to nominate an acting…
Good morning! Today is Tuesday, November 17. Southwest Airlines is encouraging people to fly now, because waiting for Covid to subside will be “far too long.” Tesla will join the S&P 500 index on Dec. 21. The second hurricane in two weeks slammed into Central America. And in mortgage and housing news … AFFORDABLE RENT: More tenants in affordable housing made payments in October than in any month since early in the pandemic, according to a report released Monday by MRI Software. FORBEARANCE NUMBERS: The number of U.S. mortgages in forbearance dropped for the 11th week in a row, with 2.7 million homeowners still pausing their mortgage payments during the Covid-19 pandemic, the Mortgage Bankers Association announced. AIRBNB IPO: Airbnb unveiled paperwork for its initial public offering,…
Good morning! Today is Monday, November 16. Most of the nation has “uncontrolled spread” of Covid-19, topping 11 million total new cases – a million more than last weekend. Victor Glover will be the first Black crew member on the International Space Station (ISS). Glover and three other astronauts were launched into space yesterday, and are expected to reach ISS this morning. Dustin Johnson won the Masters, finishing 20-under par, breaking by two shots the record set by Tiger Woods in 1997. And in mortgage and housing news … FREDDIE CEO RESIGNS: Freddie Mac chief executive officer David Brickman notified the company this week that he is stepping down from the role he has held since just last year, Freddie announced in an…
Good morning! Today is Friday, November 13. California becomes the second state to top 1 million Covid-19 cases, as L.A. County urges travel quarantines. Federal Reserve Chairman Jerome Powell said economic recovery from the Covid-19 shut downs is progressing, but warns the economy we knew is probably a thing of the past. The second round of the Masters continues today with Englishman Paul Casey, taking the early lead with 7 under par. And in mortgage and housing news … GRASS IS GREENER: Americans increasingly think the grass is greener elsewhere, as 26 percent say their local government’s response to the coronavirus pandemic has made them want to move away from where they currently live or change where they want to move, according to…
Good morning! Today is Thursday, November 12. As Covid-19 hospitalizations hit a record high, hospitals across the nation face an even bigger capacity problem than the initial outbreak. Macy’s Thanksgiving Day parade will float down one city block without an audience and four Broadway musicals will perform pre-recorded numbers for the televised event. And in mortgage and housing news … ZOOM TOWNS: A new report released by Redfin found that popular second home destinations are becoming full-time residences for homebuyers – including the Jersey Shore, Cape Cod and Lake Tahoe. MORTGAGE APPS: Homeowners are still refinancing their mortgages to take advantage of historically low interest rates. FIGHTING DISCRIMINATION: NAR is taking steps to create a culture shift in the real estate industry to combat racial discrimination against home buyers.…
Good morning! Today is Wednesday, November 11. A salute and thank you to the men and women serving our country this Veterans Day. The CDC recommends staying home for Thanksgiving or holding gatherings outside amid record coronavirus infections and hospitalizations. The divorce rate hit a 50-year low. And in mortgage and housing news … FLOOD INSURANCE OPTIONS: The Federal Housing Administration proposed allowing a private flood insurance option instead of insurance through the National Flood Insurance Program when flood insurance is required by FHA. CLASSIC FICO: The Federal Housing Finance Agency announced that it had validated and approved the use of the Classic FICO credit score model by Freddie Mac and Fannie Mae as work continues to assess adopting more modern credit score tools. NEW MISMO…
Good morning! Today is Tuesday, November 10. Senate Majority Leader Mitch McConnell said President Trump is “100% within his rights” to continue his legal challenge of the presidential election results. The U.S. topped 10 million coronavirus cases, the fifth consecutive day with a six-figure increase in infections. Encouraging Covid-19 vaccine news gave the stock market a boost. And in mortgage and housing news … HOUSING MARKET: The calendar has turned to fall, but the housing market still seems to think it’s summer. The U.S. housing market chugged along at near record levels in October – with houses selling faster in October than September for the first time since 2011, according to a new report released by realtor.com. MORTGAGE SATISFACTION: Customers are happier with their…
Good morning! Today is Monday, November 8. Joe Biden is gearing up to take office. President Trump is pursuing legal action to challenge the election results. And a Trump administration appointee is refusing to approve transition resources for Biden’s transition team to formally begin its work this week. A record-breaking wave of coronavirus cases continues across the United States. After winning in Phoenix, 24-year-old Chase Elliott is the 2020 NASCAR champion. And in mortgage and housing news … MBA ON BIDEN: The Mortgage Bankers Association congratulated former Vice President Joe Biden for his victory in the presidential election, vowing to work with his administration on affordable housing and to assist homeowners impacted by the pandemic. AFFORDABILITY: Housing affordability continued to decline in the third quarter, as inventory shortages…
Good morning! Today is Friday, November 6. The counting continues with the presidential election results coming down to four states. A federal judge ordered the U.S. Postal Service to conduct rigorous sweeps of facilities serving states with looming election deadlines like Pennsylvania and North Carolina, so any ballots still in the system reach election officials in time. The NBA season will start Dec. 22, in time for the league’s marquee Christmas slate of games. And in mortgage and housing news … RATES FALL AGAIN: Amid political uncertainty, mortgage rates have dropped to a record low for the 12th time in 2020. REDFIN RESULTS: Redfin announced financial results for the third quarter, with revenues down slightly but profit up significantly from last year. NEW FANNIE CHAIR: Fannie…
