Morning Roundup (12/08/2021)– Mortgage Apps, Missed Rent Payments Up

Good Morning! Today is Wednesday, December 8. The US will spend $400 million on vaccine distribution in Africa and elsewhere. The House passed a $768 billion defense policy bill, which now moves to the Senate. Chris Cuomo’s publisher canceled his planned book.

And in mortgage and housing news…

Mortgage Applications Up: Mortgage loan application volume rose 2% last week, MBA’s weekly survey reported.

Missed Rent Payments: Renters were three times more likely to miss payments than homeowners during September and October, according to research from RIHA.

Commercial/Multifamily Delinquencies: Delinquencies on commercial and multifamily mortgages fell in Q3 2021, according to MBA’s Commercial/Multifamily Delinquency Report.

NAR Political Spending: NAR’s political spending is in opposition to its stated desire to support education about the history of racism in housing, Popular Information argues.

CoreLogic HPI: Annual home price growth reached an all-time high of 18% in October, though monthly price growth slowed to 1.3%.

Two Sources Are Better Than One: A new study by Transunion found that looking at both rent payments and traditional credit data offered greater predictability in how well borrowers will make payments.

Fighting Appraisal Bias: HouseCanary released a study that shows automated valuation tools are very effective at removing racial bias from appraisals.

Final Rule For LIBOR Change Issued:The CFPB took the final step to transition away from LIBOR, issuing a rule requiring creditors to select replacement indices for existing LIBOR-linked consumer loans after April 1, 2022.

Fannie Mae HPSI: Fannie Mae’s Home Purchase Sentiment Index fell in November, though housing sentiment remained flat while consumers expressed severe pessimism about the economy overall.

NewPoint Buys Real Estate Finance Co: NewPoint Real Estate Capital acquired commercial real estate finance company Housing & Healthcare Finance LLC.

HomeSmart Hires: HomeSmart has hired Kelly Snodgrass as their Broker of Record for the state of Texas.