Good morning! Today is Monday, June 8. Now that SpaceX has successfully launched NASA astronauts into space, Elon Musk is moving to develop a large capacity Starship rocket. While most regions are seeing a drop in COVID-19 cases, California, Florida and a few others are seeing increases. And in mortgage and housing news … MORTGAGE RATE CLIMBS: Freddie Mac’s Primary Mortgage Market Survey found that the 30-year fixed-rate mortgage increased to 3.18 percent this week. APPEALS COURT JUDGMENT The 4th Court of Appeals in San Antonio reversed a trial court’s judgment on real estate analytic firm HouseCanary Inc.’s fraud and misappropriation of trade secret claims against Amrock Inc., a Detroit home appraisal company affiliated with Quicken Loans Inc. Amrock formerly was known as Title Source…
Good morning! Today is Friday, June 5. Las Vegas casinos are reopening with COVID-19 safety measures like sinks next to slot machines. News cameras captured video of a powerful lightning strike of the Washington Monument. A Strawberry Moon will glow all weekend with a partial eclipse today. And in mortgage and housing news … LOOKING UP: Realtor.com’s May Monthly Housing Trends report found that the market likely reached its low point in mid-April – with signs of recovery beginning late in the month followed by a stronger May. INDEPENDENT MORTGAGE BANKS: Independent mortgage banks reported strong results on loans in the first quarter of the year even in the face of a reduction in volume as the coronavirus pandemic took hold in March, the Mortgage Bankers…
Good morning! Today is Thursday, June 4. The White House selected five companies as the most likely candidates to produce a vaccine for the coronavirus. Delta Airlines will cap seating at 50 percent in first class and 60 percent in other cabins. Weekly jobless claims numbers to be announced this morning are expected to be below two million. And in mortgage and housing news … STILL RISING: Mortgage applications for new home purchases increased by 5 percent for the week ending May 29 – the seventh straight week purchase applications have increased, according to a Mortgage Bankers Association report. REFINANCING: If home values drop, consumers could pay more to refinance their mortgages. MORTGAGE AND RENT RELIEF: A guide to COVID-19 mortgage and rent relief in every state. WALL STREET…
Good morning! Today is Wednesday, June 3. After the successful SpaceX launch, a new suite of vehicles could be regularly flying people to the International Space Station. Major League Baseball players and owners continue to debate terms of a new season. And in mortgage and housing news … NEW CFO: Christian M. Lown will be the new chief financial officer and executive vice president of Freddie Mac as the company seeks to emerge from conservatorship. HOME PRICES: Home prices spiked nationwide in April, and all 50 states saw price increases, but a new report also says prices are likely to fall into next year. EVEN LOWER RATES: Federal Reserve Chairman Jerome Powell has been out there again sounding the alarm about the potential for further damage to…
Good morning! Today is Tuesday, June 2. Seven states and Washington, D.C., hold vote-by-mail primaries today. President Trump threatened to send federal troops to states that “refuse to take action” against rioters. Carole Baskin was awarded the zoo once owned by “Tiger King” Joe Exotic. And in mortgage and housing news … NON-PERFORMING LOANS: Nearly half of the non-performing loans sold by Fannie Mae and Freddie Mac to the private sector last year were located in just three states, according to a report released by the Federal Housing Finance Agency. OPEN HOUSES: Sixty-five percent of people who attended an open house in the last year say they would do so now without hesitation, according to a survey released by the National Association of Realtors. FORBEARANCE…
Good morning! Today is Monday, June 1. Protests sparked by the death of George Floyd in Minneapolis police custody escalate. Plexiglass is in high demand as businesses closed by the coronavirus reopen. Two NASA astronauts are successfully docked on the International Space Station, opening a new chapter in commercial space endeavors. And in mortgage and housing news … RENTERS STRUGGLE: A decade after the last housing crisis, millions of Americans are once again struggling to pay their mortgage. But this time the problem is even more dire among renters. APPRAISAL STANDARDS: Relaxed appraisal standards have hurt home prices, making it difficult for sellers trying to sell a home, buyers trying to get a high enough loan amount approved, and investors trying to refinance loans…
Good morning! Today is Friday, May 29. National Guard troops are being sent to Minneapolis after protesters set fire to a police station. NFL coaches are expected to return to their team’s facilities next week. The Boston Marathon will be held virtually for the first time in its 124-year history. And in mortgage and housing news … REBOUND: Realtor.com’s Weekly Housing Trends Report finds that the latest housing data points to a rebound for the housing market as buyers and sellers begin to return to the market after the economic shutdowns in reaction to the coronavirus pandemic. RECORD LOW: The 30-year fixed-rate mortgage hit a record low of 3.15 percent this week, Freddie Mac announced. It is the third time rates have reached record lows…
Good morning! Today is Thursday, May 28. American Airlines plans to cut its management and support staff by about 30 percent to slash costs after the coronavirus put a halt to travel. The Women’s Soccer League will make a return to play in June. Bad weather delayed the SpaceX launch of NASA astronauts until this weekend. And in mortgage and housing news … VACATION RENTALS: The short-term rental market is bouncing back quickly, with travelers taking advantage of lockdowns ending just as the summer tourism season starts across the country. I-BUYER PROGRAM: Zillow announced a restart of its iBuyer program in five more markets – bringing the total to nine – after shutting it down across the country two months at the height of the…
Good morning! Today is Wednesday, May 27. The average American has gained an extra five pounds during the coronavirus shutdown. Hair salons and barbershops in many states will reopen this week. And the NHL announced a plan to return straight into a 24-team playoff. And in mortgage and housing news … FORBEARANCE REPORT: The number of mortgages in forbearance in the United States increased slightly in the latest report, but the rate of increase continues to level off as fewer homeowners are opting to push pause on their loan payments during the coronavirus pandemic. HOUSING PRICES: A new government report shows that housing prices have climbed every quarter since September 2011. LISTINGS UP: New for-sale listings were up 12.5 percent month over month as of the seven days…
Good morning! Today is Tuesday, May 26. Car rental giant Hertz filed for bankruptcy. Federal lawmakers are looking to expand a wage subsidy to keep workers on payrolls and help businesses stay afloat amid the coronavirus pandemic. New coronavirus cases are slowing in most parts of the country. And in mortgage and housing news … MORTGAGE CREDIT TIGHTENS: Housing is often the most immediate way the Federal Reserve transmits lower interest rates to the economy, as homeowners refinance to free up cash and as home buying spurs construction and spending. But the economic downturn and pre-pandemic regulations are making lenders skittish. REALTOR CONFIDENCE INDEX: National Association of Realtors April 2020 Realtor Confidence Index Survey shows the effect of coronavirus social distancing measures on the housing…
