Mortgage Roundup (3/2/21) – Crisis, Help & Tech

Good morning! Today is Tuesday, March 2. Moderna, Pfizer and now Johnson & Johnson say they will deliver enough doses to fully vaccinate 130 million people — more than one-third of the US population — by the end of March. The Los Angeles superintendent wants elementary schools open by mid-April, but he has yet to reach a deal with the teachers union. The U.S. Senate confirmed former teacher and principal Miguel Cardona to be the next Secretary of Education.

And in mortgage and housing news …

CRISIS LOOMING: Millions of Americans face foreclosure and eviction from their homes once housing pandemic protections come to an end, according to a report released Monday by the Consumer Financial Protection Bureau.

MONEY COMING: Fannie Mae and Freddie Mac will disburse $1.09 billion in affordable housing grants for the year – more than double the funding released last year

CDC MORATORIUM: The ruling overturning the CDC’s eviction moratorium injects confusion into the housing market.

MORTGAGE TECH: The digital transaction is great, but mortgage tech still needs work

MORTGAGE PRODUCTS: Three underrated mortgage products to consider for changing economic times.

GENDER DISPARITY: Women pay higher mortgage rates in 49 states.

MULTI-GENERATIONAL BUYERS: Buyers purchasing multi-generational homes during the pandemic rose to a series high of 15 percent, according to the 2020 Profile of Home Buyers and Sellers report. After retreating for several years, the share has now increased, but for different reasons. 

FLORIDA BOOM: The Florida housing market is booming. Is a crash ahead?

NJ BIDDING WARS: The overheated housing market in New Jersey is sparking fierce bidding wars. 

SKI TOWNS: Properties in ski towns may offer a big income stream for second-home buyers