Mortgage Roundup (4/21/21) – Fritz, Starts & GSEs

Good morning! Today is Wednesday, April 21. A Minneapolis Jury finds Derek Chauvin guilty on all three charges: second-degree murder, third-degree murder, and second-degree manslaughter. The European Union called for a warning label to be added to J&J vaccines, but concluded that the benefits far outweigh the risks.  Netflix reports a dramatic drop in subscribers. 

And in mortgage and housing news …

HOUSING STARTS: The Mortgage Note reports that housing starts increased 19.4 percent in March amid strong buyer demand.

REMEMBERING MONDALE: The Mortgage Note remembers former Vice President Walter Mondale for his role in passing the Fair Housing Act as a senator from Minnesota.

GSEs SHRINK: Under FHFA Director Mark Calabria, there have been executive departures from the GSEs and housing policies adverse to the housing sector. Why isn’t the mortgage industry alarmed by FHFA actions?

BROKER-LENDER RELATIONSHIP: Some of the nation’s largest wholesale lenders spent the better part of the last month fighting over who is a better partner for brokers. Brokers say they need lenders who are going to support them long-term, not use them to acquire customers.

REVERSE REPO PROGRAM: The U.S. repo market flirts with negative rates as the Federal Reserve seeks to absorb excess cash.

HOTTEST MARKET: New Hampshire is home to the hottest real estate market in the nation. Here’s why. 

HOMEBUILDING: U.S. homebuilding reached a 15-year peak as consumer confidence picked up.  

COMMERCIAL LOAN VOLUME: Commercial and multifamily loan volume closed by mortgage bankers fell in 2020. 

CONDO VS. HOME: The pros and cons of buying a condo versus a home.

ONE-TENANT OFFICE BUILDING: Leasing an entire building to one company is often an efficient way to collect steady rent checks, but some of these tenants are deciding not to renew.