Good Morning! Today is Tuesday, October 26. Two were killed and five injured in a mall shooting in Boise, Idaho. Minneapolis residents will vote on whether to replace their police department with an agency focused on “public health.” A record-breaking storm hit California ahead of the Northeast’s first nor’easter, which is expected to cause flooding.
And in mortgage and housing news…
Forbearance Exits Slow: The number of loans in forbearance fell to 2.21% this week, cooling after two weeks of high exit rates, MBA reports.
Summers Storms: Larry Summers warns “housing inflation is almost certain to soar,” says Biden admin underestimating inflation risks.
CRA In NY: New York State may approve a bill that expands the requirements of the state community reinvestment act to non-depository lenders, citing redlining concerns.
Eviction Aid Still Tied Up: Treasury department data shows that only 23% of eviction aid has been disbursed despite pressure from the Biden administration.
Build-To-Rent: The number of properties being rented immediately after construction is increasing as some would-be homeowners turn their attention to single-family rentals.
“Massive” Construction Across America: Residential construction is being done simultaneously due to delays in the supply chain.
Button Finance Seeds: Fintech mortgage lender Button Finance closed $2 million in funds, which it will use to further develop its tech.
Apartment Of The Future: Can modular construction help solve the affordable housing problem?
HAUS: The price of the most common home in America was up 7.1% YOY last week, to $349,012.
Haunted Homes: Almost three-quarters of potential homebuyers are willing to make an offer on a house that was said to be haunted.