Mortgage Roundup (3/11/21) – Fudge, Credit & Refis

Good morning! Today is Thursday, March 11. At least 10 different hacking groups are using a recently discovered flaw in Microsoft Corp’s mail server software to break in to targets around the world.  AMC is reopening many of its theaters shut down by Covid-19. ESPN struck a 7-year deal for the rights to carry NHL games. 

And in mortgage and housing news …

SECRETARY FUDGE: The Senate voted 66-34 to confirm former Rep. Marcia Fudge as the Secretary of Housing and Urban Development. Later, she said she couldn’t wait to get started.

MORTGAGE CREDIT: Mortgage credit availability didn’t budge last month – and remained tight amid the Covid-19 pandemic, according to a report released by the Mortgage Bankers Association.

REFINANCE DIP: Amid higher interest rates, mortgage applications dipped slightly last week, particularly in the refinance category.

WSFS ACQUISITION: WSFS is expected to acquire a Bryn Mawr Bank in $976 million stock deal.

COVID RELIEF: What real estate gets in the $1.9 trillion federal stimulus package – rent and mortgage assistance, restaurant relief, PPP money and more.

ZILLOW ANTI-TRUST: Zillow is facing an antitrust suit, which claims that the company and its affiliate Trulia are illegally favoring listings by brokers who belong to the National Association of Realtors.

SHORT PHONE CALLS: The National Association of Realtors suggests that agents regularly keep in touch with clients, but shorten the length of each phone call.  

CT FORECLOSURES: Connecticut’s booming housing market could soften with a rise in COVID-19 foreclosures.

HOMEOWNERSHIP WEALTH: See how median homeownership wealth accumulates from home purchases five, 10, 15, and 30 years ago.

GOOD CREDIT: Why building a good credit score and history is so important.