Morning Roundup (7/27/2021) — Forbearance Numbers Improve Again, White House Offers Help

Good Morning! Today is Tuesday, July 27. The U.S. government will continue to impose COVID-related travel restrictions due to fears of the Delta variant. California is sweltering under a new wildfire that has burned nearly 200,000 acres. A bipartisan $1.2 trillion Senate infrastructure deal has stalled on Capitol Hill. New York City plans to impose mandatory vaccination/testing rules for city workers. American Airlines is warning of potential fuel delivery delays at major airports. 

And in mortgage and housing news…

Forbearance Numbers Continue to Improve: The number of U.S. mortgages in forbearance declined for the 21st straight week last week.

Mortgage Help From the White House: The Biden administration has proposed a loan modification program to help homeowners afford their mortgages.

Favorable Refinance Rates Continue: Historically low refinance rates are holding steady, driving a boom in refinance applications. 

International Investment Plummets: Foreign investment in U.S. real estate plunged by more than 25% last month.

California Gets Even Pricier: California lost over a dozen “bargain” zip codes last year as home prices soared in what was already a costly state.

Just Around the Corner: The “coming mortgage refinance wave.”

Investment With a Purpose: One bank is using its capital to help ensure affordable housing across the United States.

Keys to the City: Amazon reportedly possesses keys to thousands of apartment buildings across the country in order to facilitate deliveries. 

Big Savings: How you might be able to net $5,000 in savings after the end of the refinancing fee.