Good morning! Today is Tuesday, October 13. Johnson & Johnson is pausing its Covid-19 vaccine trial after a participant became sick. After sleeping through the “big call,” a Nobel Prize winner got the news from his neighbor knocking on his door. Sen. John McCain’s mother, Roberta, dies at age 108.
And in mortgage and housing news …
CREDIT TIGHTENS: The Mortgage Bankers Association reports that mortgage credit availability decreased again in September, reaching the lowest level since February 2014 and down roughly 50 percent this year.
FORBEARANCE DECREASE: There was a pretty big drop in the percentage of US mortgages in forbearancethis week, with 3.2 million homeowners still in plans to pause their loans, according to the weekly report released by the Mortgage Bankers Association.
DISASTER RELIEF: In the wake of Hurricane Delta, Fannie Mae and Freddie Mac are reminding homeowners of the mortgage assistance and disaster relief options available to them.
BIG BANKS: The largest banks haven’t been this cautious with their holdings in at least 35 years.
MULTI-FAMILY BORROWERS: Amid the broader challenges facing the commercial real estate market, many investors who own smaller apartment buildings are struggling to find financing in the current climate.
TYPES OF BANKS: Though they dictate a large portion of our financial lives, many people don’t know thedifference between the many different types of banks. Discover what each bank does and how you can choose the right one for your needs.
HOW LOW?: Mortgage rates are hovering near record lows, and no one knows how low they’ll go. What realtors are telling clients about this trend.
REPAYING LOANS: Should you roll your student loans into your mortgage?
CONSOLIDATING DEBT: The extension of the foreclosure ban is creating an opportunity to consolidate debt.
NY RECOVERY The recovery is tenuous, but renters are returning, buyers are getting deals, and those who stayed are finding a measure of vindication in New York.
REAL ESTATE RE-ORDERED: Amid all the uncertainty brought on by COVID-19 over the past six months, one thing is assured: the pandemic has re-ordered real estate markets across the board on an unprecedented scale.