Mortgage Roundup (11/4/20) – Election, Credit & Winter

Good morning! Today is Wednesday, November 4. President Trump and Joe Biden addressed supporters after the polls closed, but results may be days away in critical battleground states. Yosemite National Park welcomes visitors without reservations for the first time since March. Walmart laid off a fleet of shelf-scanning robots in favor of humans.

And in mortgage and housing news …

FORBEARANCE NUMBERS: The number of mortgages in coronavirus-related forbearance continues to decline. 

ELECTION IMPACT: How the housing market might respond to the election outcome.  

CREDIT HISTORY: Congress may take action to ensure fintech lenders do not penalize consumers for recent damages to their data profiles, especially since consumer data collection has proliferated during the pandemic, often unevenly across the lines of race, age, and income level.

SWING STATE FORBEARANCE: Swing states with the largest numbers of mortgage bailout beneficiaries

RETIREMENT LIVING: Renting may be the best option for seniors, according to a new study.  

HOT WINTER HOUSING: The hot housing market is not likely to cool in the winter. 

NEW YORK LANDLORDS: Thousands of New York City tenants haven’t paid full rent. Others, looking to escape the virus, violent crime and plunging quality of life, have fled, pushing up the vacancy rate and forcing owners to grant concessions.

STARTER HOME: Some say the phrase “starter home” assumes buyers can’t find their dream home on their first purchase.

BUILD BUT CAN’T BUY: Construction workers are priced out of homeownership in surprising areas of the U.S. 

FUTURE HOMEBUYERS: Younger generations want to become homeowners – Here’s how the housing industry can help.

OFF-PREMISE RECOVERY: IHOP is rethinking how its real estate is used to get back to growth.