Good Morning! Today is Thursday, December 23. The F.D.A. authorized Pfizer’s Covid treatment pill for high-risk patients. The Biden administration extended a moratorium on student loan repayments until May 1. Authorities in Texas are investigating a “major industrial accident” at an Exxon Mobil plant.
And in mortgage and housing news…
A New Home For The Holidays?: It may be the week before Christmas, but that doesn’t mean potential homebuyers aren’t out searching for their perfect piece of real estate.
Guaranteed Rate Leadership: Guaranteed Rate has appointed two new Divisional Managers, Ryan Ogata and Tim Sorenson.
Existing-Home Sales Up: Existing-home sales rose 1.9% in November to a seasonally adjusted annual rate of 6.46 million, while inventory fell 13.3% YOY, NAR reported.
Potential Home Sales Up, Too: Potential existing-home sales increased to a 6.27 million seasonally adjusted annualized rate, a 0.1% month-over-month increase, according to First American’s Potential Home Sales Model for the month of November.
Hunter + Rice: Hunter Street Partners has partnered with Rice Park Capital Management to acquire Asset Based Lending, building on a residential loan investment platform launched by the two firms last year.
Florida Dems Respond To Rent Increases: Florida Democrats asked the Governor to declare a state of emergency and direct the Attorney General to consider any rent increases higher than 10% price gouging.
LendUp Loans On The Naughty List: The CFPB ordered LendUp Loans to stop making new loans and pay a penalty. “We are shuttering the lending operations of this fintech for repeatedly lying and illegally cheating its customers,” said CFPB Director Rohit Chopra.
FACT SHEET: HUD released its Year In Review fact sheet, summarizing its key achievements of the year. “[HUD] this year took bold action in pursuit of the agency’s mission to create strong, sustainable, inclusive communities and quality affordable homes. These actions aligned with key Biden-Harris Administration priorities including ensuring equity, removing barriers to homeownership, expanding the nation’s housing supply, and keeping Americans housed,” it reads.
Finishing The Year Grumpy: Despite their gloomy mood, consumers are surprisingly strong as the economy recovers, disproving talk of a “K-recovery” from the pandemic.
Evergrande Cont’d: China Evergrande said the committee steering its restructuring is deploying extensive resources to help contain risks and will engage with creditors.