Morning Roundup (8/19/21) – Mortgage Applications Down All Around, Senate Targets Affordable Housing

Good Morning! Today is Thursday, Aug. 19. Global criticism of the Biden administration is growing over its handling of the Afghanistan fiasco. The Taliban is strengthening its hold on the country and its capital of Kabul. An appeals court has ruled in Texas’s favor over some of the state’s abortion regulations. The recall election of California Gov. Gavin Newsom is looming. Hurricane Grace is intensifying and threatening Mexico’s Yucatan Peninsula.

And in mortgage and housing news…

Down Across the Board: Mortgage applications have dropped by weekly, monthly and yearly metrics this week.

Pocket Money Portfolio: A new startup lets aspiring investors drop $10 to take part in a retail portfolio.

Senate Seeks Housing: A new bill proposed in the U.S. Senate seeks to spur affordable housing via tax credits and other measures.

The Fed Pivots: The Federal Reserve looks to begin scaling back its monthly multibillion-dollar purchases of mortgages and other assets.

Homebuying To Pick Up Again? A chief real estate economist says the U.S. might see a spike in homebuying in the near future.

Shining Armor: Why on Earth is there a Medieval knight in these real estate listing photos? The listing agent explains.

Analysis: ‘I Control the Margins’: UWM Offers Peek Into Cutthroat Mortgage Industry