Mortgage Roundup (2/12/21) – Rates, Results & Taxes

Good morning! Today is Friday, February 12. Contracts with Pfizer and Moderna require each company to provide an additional 100 million vaccine doses. President Biden’s 100-day plan to reopen schools meets with a messy reality of teachers’ unions holding firm on their demands for new safety measures and vaccinations. The CDC is considering classifying color-coded zones for school reopenings. 

And in mortgage and housing news …

RATES STEADY: For the second week in a row, the 30-year fixed-rate mortgage average didn’t move at all, according to Freddie Mac’s weekly Primary Mortgage Market Survey.

FREDDIE RESULTS: Freddie Mac announced net income of $7.3 billion for 2020, up $100 million from the year before as the housing market surged amid pandemic-induced record low interest rates.

FAIR HOUSING ACT: HUD will begin pursuing complaints of housing discrimination based on sexual orientation or gender identity under the Fair Housing Act, per agency memo, in a reversal of Trump administration policy. 

FORBEARANCE TAX: Did you skip mortgage payments last year? Here’s what that means for your taxes.

CREDIT UNIONS: CUNA President/CEO Jim Nussle discussed CUNA housing priorities and other issues on a call with Federal Housing Finance Administration (FHFA) Director Mark Calabria. Calabria’s term as FHFA director runs into 2024.

REALTOR RANKINGS: A new report ranks all state and local REALTOR® associations and MLS’s by membership size.

RATE PREDICTIONS: What will influence mortgage rates in 2021.  

HOME VALUES: Your home’s value may have soared nearly 10 percent during the pandemic.

TRUMP BREAK UP: Vornado Realty Trust is seeking to break partnership deals with the Trump Organization, which includes two of the most valuable assets of the former U.S. president’s company.

CRE LENDING TREE: A startup wants to help commercial real estate investors with an AI-powered algorithm and database of more than 9,500 capital sources that can be used to find debt financing lenders “with the best terms.”

HOUSING EQUITY: How President Biden can bring equity to renting and home ownership.