Good morning! Today is Friday, April 30. A global shortage of semiconductors is disrupting production of iPads and MacBooks. In an effort to cut down on corruption among Vatican employees, Pope Francis instituted a new policy that prohibits them from receiving any work-related gift with a value over $48. Two in three Americans surveyed feel more alone than ever before, many admit to crying for first time in years.
And in mortgage and housing news …
BELOW THREE: The Mortgage Note reports that mortgage rates inched up ever so slightly this week to 2.98 percent.
HOME SALES: Pending home sales are rising less than expected in March as prices soared.
BIDEN TAX HIKE: President Biden’s proposed tax hikes could be a double-edged sword for real estate. What homeowners and investors need to know.
HOMEBUILDING RATES: In some markets, new-home construction is ramping up and more homes are likely to help relieve some of the pressure in a low-supply, high-demand market.
OCC TRUE LENDER: The Consumer Financial Protection Bureau is considering reinstating its 2017 payday lending rule, which before being rescinded in 2020 provided necessary consumer safeguards for single-payment loans without restricting installment loans or lines of credit.
INVESTORS’ WATCH: Three real-estate growth stocks that are down over 30% from their recent highs and explain why investors should keep an eye on them.
OWNERS TO SELLERS: Ten percent of owners plan to list their homes for sale this year, cresting to 26 percent in the next three years, a National Association of Realtors survey says.
REVERSE MORTGAGE LENDER FINED: The Consumer Financial Protection Bureau ordered one of the nation’s largest reverse mortgage lenders to pay a $140,000 fine as part of a settlement resolving allegations that it sent misleading direct mail advertisements to hundreds of thousands of prospective customers.
INCOME-TO-EXPENSE RATIO: Seniors want to move on, but are often remain stuck in their homes after not qualifying for a new mortgage.
BOOMERS BUYING: Baby boomers are the wealthiest generation in the country, and they remain one of the most active in the housing market. Here’s where they are buying.