Morning Roundup (11/15/2021)– Forbearances Drop Below 2%, Airbnb To Impact Market In 2022

Good Morning! Today is Monday, November 15. The Glasgow climate summit ended with an agreement by nearly 200 countries to cut their carbon emissions in half this decade. An appeals court barred President Biden’s vaccine mandate for large employers. A New York Times report revealed the US hid an airstrike that killed civilians in Syria.

And in mortgage and housing news…

Forbearances Drop Below 2%: Forbearance exits jumped week-over-week, with nearly 300,000 borrowers leaving their plans, Black Knight reported.

Airbnb Will Majorly Impact 2022 Market: Analysts predict Airbnb will expand its inventory 25% in 2022, suggesting it will have a significant impact on the housing market next year.

AEI Response: The AEI Housing Center published a response to FHFA’s proposed amendments to its Enterprise Regulatory Capital Framework, saying they “would be an unfortunate choice that would undermine the FHFA’s mission by substantially weakening the capital standards critical to GSEs’ safety and soundness, should they someday be released from their conservatorship.”

NY Rent Relief Runs Out: New York will stop accepting applications for rent relief due to a lack of funds. Gov. Kathy Hochul has asked the Fed for an additional $1 billion in aid.

Fresh Eyes On Rent Control: Voters in St. Paul, Minn., passed one of the most restrictive rent control ordinances in the country, and other cities are considering similar action.

FHA “Limbo”: President Biden’s pick to head the FHA is stuck in limbo as the Senate prioritizes other battles, frustrating some in the mortgage industry.

Competition Down For Fourth Month Straight: Competition for homes improved for the fourth consecutive month, with only 40.9% of homes selling over list price in October.

Senators Call Out Zillow: The chairmen of two senate committees sent a letter to Zillow expressing concern over its decision to sell 2,000 homes to investment firm Pretium Partners.

Public Support For Greener Homes: A report from ROCKWOOL and Cambridge Econometrics found 79% of people would renovate their homes to make them more energy-efficient if they could access financial support.