|Good Morning! Today is Thursday, October 14. Interior Secretary Deb Haaland announced plans to line U.S. coastlines with wind farms. The Energy Information Administration predicts that home heating costs will go up because fuel prices are rising and fuel demand has increased over the previous winter. Democrats are still butting heads over what to cut from President Biden’s $3.5 trillion legislation, with Bernie Sanders saying Medicare benefits are non-negotiable. |
And in mortgage and housing news…
Interest Rates Top 3%: Mortgage rates rose their highest point since April, hitting 3.05% over the past week, Freddie Mac reported.
“Forbearance Cliff?”: Housing advocates have warned of a flood of forbearance filings. So far there’s no sign of it, and analysts don’t see it coming.
Homeownership Confidence Low For Single Women: New research from Freddie Mac revealed 60% of single women feel homeownership is indefinitely out of reach after the pandemic.
Fed Warning: The Federal Reserve warned inflation may have “larger or more persistent effects” than what is “currently believed.”
“Elevate Equity”: The Metropolitan Washington Council of Governments Board of Directors passed two resolutions prioritizing transit and approved a grant program to help add housing near transit.
Nevada Home Price Record: Home prices in Nevada increased 22.7% between August of last year and this year, more than the national average of 18.1%, the highest U.S. increase in CoreLogic’s ranking history of 45 years.
Focusing On People: Why customer-focused brokerages win in the long term.
Fannie, Freddie Caps Raised: Annual multifamily limits for Fannie Mae and Freddie Mac will increase by $8 billion each in 2022 with stipulations regarding energy efficiency and affordable housing.
Nexus Pay: SimpleNexus will unveil its new mobile feature, Nexus Pay, which allows applicants to pay for any mortgage-related charges.
New SVP: Stewart Information Services Corp. has hired Michael Moshay as its new senior vice president of Data & Analytics.
BBB, Explained: How does the Build Back Better Act impact the real estate industry?