Mortgage Roundup (2/23/21) – Sales, IPOs & Rates

Good morning! Today is Tuesday, February 23. President Biden held a memorial service to honor the more than 500,000 lives lost to Covid-19. Facebook reversed its ban on news pages in Australia after amendments to a law requiring the social media company to demonstrate a “significant contribution” to local journalism. New York City will reopen its movie theaters for the first time in nearly a year. 

And in mortgage and housing news …

FORBEARANCE: The number of mortgages in forbearance dropped for the third straight week. 

HOME SALES: Existing-home sales ticked up slightly in January and increased 23.7 percent from a year ago.

IPO PEAK: Investors fueling an initial public offering bonanza are snubbing many U.S. mortgage providers’ stock market debuts over concerns that the sector might have reached its peak.

ON THE HOOK: New York’s eviction and foreclosure moratorium doesn’t cancel rent or mortgages, and it doesn’t offer direct financial relief to homeowners or renters. 

OPEN BANKING: A Consumer Financial Protection Bureau proposed rule on open banking may determine the pace of innovation for the financial services industry and give consumers more control over their financial data.

PROPERTY BOUNDARIES: Lenders are embracing a technology used to determine property boundaries

MORTGAGE RATES BY STATE: Geographical factors — like the prevalence of lenders, housing prices, and local or state laws — have an effect on mortgage rates.

CFPB HIRING SPREE: The Consumer Financial Protection Bureau is assembling a new enforcement team and hiring more personnel as it prepares to toughen oversight of banks, mortgage servicers and other financial firms.

SHADOW LENDING: One out of three Americans is doing at least part of their financial business with a nontraditional provider.

MOVING TAXES: If the pandemic necessitated moving in 2020, here’s a look at all the tax tips you need before filing them this year.