Morning Roundup (9/30/2021)– Interest Rates Top 3%, Investor Confidence Tanks

Good Morning! Today is Thursday, September 30. The House plans to vote today on a $1 trillion infrastructure plan. A new AP poll finds President Biden’s vaccine mandate splits Americans down party lines. The NCAA will allow women’s basketball to use the phrase “March Madness,” which used to be restricted to the men’s tournament.

And in mortgage and housing news…

Freddie Mac: Interest rates rose to 3.01% this week, Freddie Mac’s PMMS reported.

Investor Confidence Falls: Nearly half of real-estate investors believe the investment market is worse than a year ago, and 36% expect it to stay bad over the next six months.

AIME Conference: 3,000 mortgage professionals attended AIME’s 4th Annual Fuse conference.

Pending Home Sales Rebound: Pending home sales rose in August after two months of decline, according to a NAR report.

“Affordable, Effective, And Forward-Looking”: The California HFA announced a grant program offering as much as $25,000 in assistance to low- to moderate-income homeowners to build accessory dwelling units on their property.

FHFA Regulation: FHFA acting Inspector General Phyllis Fong called for better practices related to the sharing of regulatory information about the performance of mortgage companies and others that work with Fannie Mae and Freddie Mac.

Asking Prices At All-Time High: Asking prices of homes listed for sale increased 12% year-over-year to a median of $361,250, Redfin reported.

Lending Control: Central banks are tightening curbs on risky lending, but lending control won’t fix the affordable housing crisis.

Least Affordable: NYC and Miami are the least affordable markets in America, according to RealtyHop’s October 2021 Affordability Index. Miami booted LA from the #2 spot.