Mortgage Roundup (11/25/20) – Prices, Risks & Reform

Good morning! Today is Wednesday, November 25. The International Air Transport Association announced that it’s in the final development phase of a digital passport mobile app that would receive COVID-19 test and vaccination certificates. The CDC is likely to shorten the recommendation to quarantine to reduce the risk of spreading the coronavirus after exposure from the current 14 days to as few as seven with a negative test.

And in mortgage and housing news …

Q3 HOME PRICES: House prices in the United States surged in the third quarter of 2020, increasing 3.1 percent from the second quarter and 7.8 percent ahead of 2019 levels.

CHANGE OF HEART: Wells Fargo reverses, again, on letting homeowners accept U.S. mortgage aid.

RISING RISKS: A former subprime player claims he can now short the mortgage market for climate and Covid risks.

FREDDIE MAC PORTFOLIO: Freddie Mac’s mortgage portfolio increased at an annualized rate of 25.7 percent in October.

TRUMP HOUSING REFORM: A Biden Administration would be likely to reverse President Trump’s housing finance reform plans.   

SECOND LOCKDOWN EFFECT: Will a second lockdown cool off the Seattle housing market

$455 BILLION OUT OF REACH: Treasury Secretary Mnuchin plans to put money clawed back from Fed into general fund, where it will require new congressional authorization to spend.

SUBURB SPACE: Seven suburbs with the most affordable big homes.

TREND WATCH: Housing market trend watchers say mortgage rates could drop even lower, but millions of renters are still in peril. 

JUMBO MORTGAGES: Thirty-year jumbo mortgage rates fell to a new record low. 

TOUCH POINT SYSTEMS: How can real estate companies transform their storefronts into lead-generating machines?