Morning Roundup (8/2/2021) — Eviction Moratorium Expires, Congress Calls on White House to Extend It

Good Morning! Today is Monday, Aug. 2. Fears are mounting that future COVID variants might be able to evade vaccines. New COVID cases continue to rise throughout the country. Broadway theaters will require vaccinations and masks for all patrons. The U.S. Senate continues to attempt to hash out a trillion-dollar infrastructure bill. Americans took home multiple gold medals in swimming competitions at the Olympics on Saturday. 

And in mortgage and housing news…

It’s Over: The eviction moratorium has expired and “the rent is due” for millions of Americans.

Congress Urges Action: House Democrats are calling on the White House to extend the moratorium

Foreclosures on the Horizon, Too: The moratorium on foreclosures also ran out at the end of last month.

No Rise on the Horizon: Experts are arguing that mortgage rates are unlikely to rise for at least the rest of the summer.

Attempting to Avoid a Catastrophe: The Biden administration is scrambling to distribute billions in financial aid after the expiration of the moratorium.

Where the Money Comes From: The sky-high bidding wars in the real estate market are being driven in part by the “financial firepower” of hedge funds.

‘Fast, Transparent and Low-Cost’: How one company is seeking to streamline the homebuying process.

Thanks, Mom and Dad: Baby boomers are helping their children finance home purchases.

New York City Real Estate on a Budget: Some properties in Manhattan can be bought for around $350,000—if you’re willing to compromise.