Morning Roundup (2/11/2022)– Forbearances Down, Rates Up

Good Morning! Today is Friday, February 11. Biden is moving to split $7 billion in frozen Afghan funds between 9/11 victims’ families and humanitarian aid in Afghanistan. Congress passed a bipartisan bill giving survivors of sexual misconduct greater rights to sue. Super Bowl LVI is poised to be the most bet upon game in football history as the legalization of sports betting grows.

The Mortgage Note Reports

Which City Would Win In The Super Bowl Of Housing Markets?: It’s Super Bowl weekend and The Mortgage Note is taking a look at which city would win if Los Angeles and Cincinnati’s housing markets were pitted against each other.

Black Knight: Forbearance plans fell by 4% last week, slowing as the number of active plans reaches a “gradually flattening slope.”

Rates Rise Again: Mortgage rates jumped to 3.69% from 3.55% this week, Freddie Mac reported Thursday.

And in other mortgage and housing news…

AIME Sides With UWM: AIME rescinded Loan Factory’s CEO’s invitation to its Hall of AIME event for not partnering with UWM.

Foreclosures Back Up: ATTOM released its January 2022 U.S. Foreclosure Market Report, showing foreclosure filings jumped 29% from December and 139% YOY, their highest level since before the pandemic.

But Delinquencies Down In Q4: The delinquency rate for mortgage loans on one-to-four-unit residential properties fell to 4.65% of all loans at the end of Q4 2021.

Red-Hot: American wages are actually falling when rising inflation is taken into account.

Rocket Charity: The Rocket Giving Fund announced more than $1.35 million was raised in 2021 through Detroit’s third-annual PGA TOUR event to support local nonprofits. 

“Feeling A Big Pinch”: Homebuyers’ monthly mortgage payments are up 25% YOY to a record-high of $1,931, Redfin reported.

$10M Or More: Compass released its first-ever ultra-luxury market data report.

Take A Look: What cities have the biggest houses?