Morning Roundup (10/20/2021)– Applications, Refis Tank

Good Morning! Today is Wednesday, October 20. The White House announced a plan to vaccinate 28 million children between the ages of 5 and 11. Kidnappers in Haiti are demanding $1 million per person for 17 members of a U.S.-based missionary group. Southwest Airlines has dropped its plan to put unvaccinated workers on unpaid leave starting in December.

And in mortgage and housing news…

Applications Down: Mortgage loan application volume fell 6.3% last week while refis hit their lowest level since July.

Rocket Enhancements: Rocket Mortgage’s Rocket Pro TPO announced tech changes to help brokers grow and strengthen their businesses.

Ex-UWM Exec Joins Scott Griffin: Scott Griffin Financial has announced that former UWM exec Judie Levitt has joined its senior leadership team as chief growth officer.

Forbearances: The total number of loans in forbearance fell to 2.28% this week, MBA reported.

New Construction Down: New construction slowed in September, with declines in permits, starts, and completions, according to a Realtor report.

BAS Shows September Drop: MBA’s Builder Application Survey showed September mortgage applications for new home purchases down 16.2% YOY.

Zillow Market Report: Inventory is inching up as typical seasonal cooldown gives buyers room to breathe, Zillow reports.

CFPB Preparing For Battle: The CFPB is adding 20 to 30 new enforcement attorneys to their arsenal as they ramp up lending enforcement.

Second Home Demand Up: September demand for second homes rebounded from a summer slowdown, bouncing up 60% from pre-pandemic levels, Redfin reports.

Goldman Sachs Prediction: Goldman Sachs predicts that housing prices will rise another 16% in the next 15 months.