Mortgage Roundup (11/5/20) – Disaster, Suburbs & Rates

Good morning! Today is Thursday, November 5. Vote counting continues today to determine the next President of the United States. With Michigan and Wisconsin added to Joe Biden’s lead, President Trump must sweep Pennsylvania, Georgia, North Carolina and Nevada to win.  Drugmaker AstraZeneca expects Covid-19 vaccine trial results later this year. 

And in mortgage and housing news …

DISASTER FLIGHT: Led by homeowners and renters in the Northeast, more than a quarter of Americans say they want to or have already moved due to the recent spate of fires, floods and hurricanes.

MORTGAGE APPS: Mortgage applications edged up 3.8 percent for the week, as refinances and home purchases remain significantly higher than a year ago, according to a new report released by the Mortgage Bankers Association.

AFFORDABLE SUBURBS: A low-income housing development in Wisconsin proves affordable housing doesn’t increase crime and reduce property values

ELECTION UNCERTAINTY: What election 2020 uncertainty means for mortgage lending. 

IF BIDEN WINS: What a Biden victory would mean for the mortgage industry. Industry observers prepare for a long stay in conservatorship for Fannie & Freddie and stricter industry regulation.

COMMERCIAL REAL ESTATE: How the pandemic made this investment firm a leading U.S. hotel player overnight.

CO-SIGNER/CO-BUYER: A co-borrower has more responsibility than a co-signer, and both agree to repay your loan if you can’t.

CLOSING BRAWLS: Real estate agents share their worst closing fights.

JUMBO/FHA RATES: Jumbo and FHA mortgage rates set record lows, juicing refinance demand.

MORTGAGE BOND INVESTORS: Despite the uncertainty over who will next call the White House home, one thing seems certain — mortgage bond investors will still face robust prepayment speeds at least over the near term.