Morning Roundup (7/26/21) — Condos See Renewed Interest, Housing Market Wears Down Buyers

Good Morning! Today is Monday, July 26. Strong storms and possible tornadoes have left destruction across wide swaths of Michigan. COVID cases are continuing to rise across the U.S. as deaths stay flat. Speaker of the House Nancy Pelosi has come under fire from her Catholic archbishop for her vocal support of abortion. The U.S. men’s basketball team lost their first Olympic game since 2004. California is planning a fresh wave of state-level stimulus checks. 

And in mortgage and housing news…

Condos Seeing Spike in Interest: Homebuyers are signaling a growing interest in condominiums as above-asking-price purchases spike over historical rates.

Sign of Impending Eviction Crisis? Lower governments have been struggling to distribute billions in rental assistance ahead of the end of the eviction moratorium this month. 

Feds Facing Possible Lawsuits: The federal government is facing the threat of lawsuits due to a federal homebuying program that distributes aid based in part on race.

Taking Out the Real Estate Middlemen: A “peer-to-peer” homebuying service is planing to expand into other states after a year of smashing success.

Possible Wave of Defaults Looming in Canada? Experts are warning that easy lending standards in Canada could precipitate a potential loan-default crisis there. 

Industry Hurdles: The Three Biggest Challenges Facing Smaller Mortgage Lenders

Waiting for a Slowdown: Some prospective homebuyers are putting their search on hold after being burned too many times in the white-hot market.