Morning Roundup (10/12/2021)– Forbearances Keep Falling, Affordability Improved In August

Good Morning! Today is Tuesday, October 12. Workers are heading back to the office at the highest rate since the pandemic began. Southwest Airlines canceled more than 28% of its weekend flights, including hundreds on Monday. Matt Amodio’s historic run on “Jeopardy!” came to an end Monday night, leaving the Yale doctoral student with 38 wins and more than $1.5 million in prize money.

 And in mortgage and housing news… 

Forbearances Fall: Forbearances plummeted to 2.62% of servicers’ portfolio volume last week, down from 2.89% the week before, according to the MBA. 

Analysis: Do low-income buyer programs help or hurt? Economists are raising questions about the real-world impact of some government programs designed to help low-income buyers enter the market.

NAR: Housing Affordability Improved in August: Housing affordability improved for the second month in a row, according to the new National Association of Realtors report.

Dem’s Housing Fight Club: Democrats are debating the impact of competing proposals to boost first-time homeownership. 

Millennial’s Would Tap That!: Bankrate survey found 14% of Millennial homeowners would tap their equity to go on vacation. 

Affordability Ticks Up: Housing affordability rose nationally for the second straight month in August, according to NAR’s Housing Affordability Index

“They Are Going To Wimp Out:” Nouriel Roubini said the Federal Reserve may find it tough to tighten policy if growth slows and markets mimic Q4 2018.

 New Women Lenders Group: ERA® Real Estate announced the launch of the “Hera Society,” a new group to strengthen the impact of women real estate leaders on the industry. 

Digital Lending Creates Opportunities, Challenges: With margins thinning and consolidations likely, lenders have to carefully consider their mix of personnel and technology to stay profitable. 

Old National Lawsuit: Old National Bank, the largest depository bank in Indiana, is being sued for over a decade’s worth of alleged redlining practices. 

International Inspiration: American cities seeking affordable housing ought to take a page from Tokyo’s playbook, Jairaj Devadiga argues in Business Insider

Luxury Rules: Luxury property realtors boasted record years while high-end properties have gained huge ground in their share of the overall market.