Good morning! Today is Tuesday, October 20. The Presidential debate commission will mute President Trump and Joe Biden’s microphones during parts of Thursday’s debate. British scientists will launch the world’s first human challenge trials for Covid-19, in which healthy volunteers will be deliberately infected with the coronavirus to test the vaccine’s efficacy. NASA is launching a 4G phone network on the moon.
And in mortgage and housing news …
NEW GSE PRODUCT RULE: The Federal Housing Finance Agency announced a new rule that would require Fannie Mae and Freddie Mac to provide advance notice to FHFA of new activities and obtain prior approval before launching new products.
HOME PRICES: Home prices in September increased by the largest amount since Redfin began tracking them.
HOME VALUE: Homeowners saw their net worth rise over the summer as home values increased at a pace not seen since the market recovered from the Great Recession.
NEW MBA CHAIR: Mortgage Corporation CEO Susan Stewart was sworn in as chairman of the Mortgage Bankers Association at the group’s virtual annual convention.
REFI FEE: The FHFA says the refinance fee is necessary because mortgage giants are “not close to safety and soundness.”
COMMERCIAL MARKET INSIGHTS: The National Association of Realtors features commercial office market occupancy trends, and the factors that determine if a retail space should be repurposed based on the three fundamental building blocks of logistics.
INCREASING ACCESS: New Orlando tech firm makes mortgage loans more accessible, with an Artificial Intelligence-powered marketplace.
AGING HOMES: Tens of millions of homes nationwide will soon come up for sale as baby boomers slowly release their 46 million homes, worth $13.5 trillion. How the 60-year rule comes into play in making buying decisions.
BIDEN BANKING POLICY: While Democratic presidential nominee Joe Biden is unlikely to prioritize a financial industry crackdown if he wins on Nov. 3, he is expected to take a much tougher line than Trump and his former boss President Barack Obama.
AD CAMPAIGN: The National Association of Realtors has launched a new omnichannel ad campaign to drive awareness on fair housing issues.
RENTERS AT RISK: Renters are especially vulnerable when expenses grow or income is slashed, and many tenants could be on a fast track to trouble.