Morning Roundup (12/06/2021)– Omicron Fears, Zillow Recovery

Good Morning! Today is Monday, December 6. Former Senate Majority Leader and Republican Presidential Nominee Bob Dole died yesterday. He was 98 years old. Bitcoin recovered from a weekend crash that brought its value below $50,000. Omicron may have been spreading at a New York anime convention before cases were officially confirmed in the US.

And in mortgage and housing news…

Market-Crash Flashback?: Fannie Mae and Freddie Mac have raised their loan limits to nearly $1 million in some communities. Does that mean lenders are repeating the same mistakes which led to the 2008 crash?

Analysts React To Omicron: How will Omicron impact the housing market? Analysts are optimistic it won’t cause significant damage.

Zillow Bouncing Back: Zillow is recovering from its Offers shutdown as it buys back stock and sells off its backlog of inventory.

November Labor Report: Employers added 210,000 jobs to the economy in November, far fewer than expected, though nonbank mortgage providers did make slightly more profit than the month prior.

Evergrande Fears: Evergrande’s stock plummeted as it faces the end of another grace period and huge demands from creditors.

Fannie Breaking Records: Fannie Mae transferred $1.2 billion in risk on a pool of mortgages with an unpaid principal balance of $30.7 billion last week, its largest ever.

Ban On “Gushing” Love Letters: An Oregon law will go into effect on January 1 banning real estate “love letters” from potential buyers on the grounds they can fuel discrimination.

“Slipping Away”: Despite advocates’ best efforts, no abandoned hotels in New York have been converted to housing, and the window of opportunity may be closing.’s “Brutal” Layoffs: laid off 900 workers over a 15-minute Zoom call then immediately shut down their devices, accusing them of “stealing” by working two-hour days.