|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!: A 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.