Morning Roundup (11/4/2021)– Tapering Is On, Affordable Housing Is Up

Good Morning! Today is Thursday, November 4. OSHA is expected to release its ’emergency order’ mandating vaccines for employees of large businesses. The U.K. approved a pill designed to treat symptomatic Covid. The attorney for the armorer on “Rust” suggested the live round that killed a woman may have been an act of “sabotage.”

And in mortgage and housing news…

Fed Says Tapering Is On: The Federal Open Market Committee laid out a framework for tapering its emergency bond-buying, but rate hikes weren’t discussed.

Affordable Housing Up: The supply of affordable homes jumped 13% YOY in Q3, though supply dropped in the luxury market.

Will Rising Rates Help Or Hurt?: Rising interest could hurt homebuyers by raising their monthly payments, but they could also reduce competition in some markets and bring home prices back down.

“Trust Is Viral”: A new white paper from Nomi Smith of PMI Rate Pro details how building borrower trust leads to strong business even in tough times.

Homeownership Flat: Data from the Commerce Department showed the homeownership rate stayed basically flat at 65.4% in Q3.

“Committed To iBuying”: Redfin and OpenDoor say they’re doing business as usual following the news that Zillow Offers is closing down.

“Great Reshuffling” Not So Great: A survey from LendingTree found that, of people who moved in the last year, 85.38% stayed in the state they were living in.

CFPB Cracking Down On Credit Policies: The CFPB released another report on modern redlining, this one covering disparities in credit report disputes for residents of majority Black areas.

Valon Valuated at $590 Million: Valon Technologies raised $43.9 million in equity funding from investors including affiliates of Starwood Capital Group and Freedom Mortgage.