Mortgage Roundup (1/22/21) – UWM, Ishbia & Rates

Good morning! Today is Friday, January 22. Thousands of National Guard troops were ordered to vacate the Capitol following the Presidential inauguration with no plan to get them home. Scientists unlock a potential drug capable of de-aging the brain and reversing cognitive decline. Today marks six months out from the rescheduled 2020 Olympic Games in Tokyo. 

And in mortgage and housing news …

UWM DEAL: United Wholesale mortgage and Gores Holdings IV, Inc., announced the closing of their previously announced $16 billion business merging, clearing the way for UWM to go public today in the largest deal of its kind.

ISHBIA FORTUNES: It’s good to be Mat Ishbia.

EMERGENCY HOUSING: President Joe Biden issued an executive order that increases federal government spending to provide emergency housing to people during the Covid-19 pandemic.

MORTGAGE RATES: Mortgage rates decreased slightly this week, remaining firmly below 3 percent – where they have remained since late July.

STAYING PUT: Americans are holding on to their homes longer, and it is costing would-be home buyers.

DACA’S FHA EFFECT: President Biden has said restoring DACA as an active program would be one of his early action items, which could lead to a change in FHA policy.

HOUSING BOOM BOOST: A new federal fiscal stimulus package should give buyers more options — as long as they can find a home for sale.

CALIFORNIA WILDFIRES: California homeowners whose homes were destroyed by wildfires question whether to rebuild in the same locations

HIGHEST VOLUME: The Ascent recently took a closer look at the top 25 mortgage lenders and Rocket Mortgage by Quicken Loans came out on top

GROWING SUPPLY: Deficit financing might be the cure for the nation’s housing shortage.