Mortgage Roundup (5/12/21) – Credit, Prices & Debt

Good morning! Today is Wednesday, May 12. A gas pipeline hack is leading to panic buying and fuel shortages on the East Coast. Ride-sharing companies Uber and Lyft will make all rides to and from vaccination sites free until July 4 under a new White House transportation partnership. An unusual fish normally found thousands of feet deep in the ocean floor washed ashore on a California beach last week.

And in mortgage and housing news …

MORTGAGE CREDIT: The Mortgage Note reports that the mortgage credit market opened up a bit more in April. 

SCARY PRICES: U.S. home prices are surging and scaring off buyers. 

UWM DECLINE: United Wholesale Mortgage expects a big margin decline in Q2.

CREDIT CARD DEBT: Credit card debt keeps falling and banks are on edge about it.  

FAIR LENDING GRADES: Illinois will now grade mortgage lenders and banks on their commitment to fair lending.  

BRIDGE LOAN: A bridge loan may be the support you need to transition homes.

HOME VALUE BENEFITS: With home values high, this is how owners can benefit.

SPAC MERGER: Startup mortgage lender Better plans to go public by merging with a special-purpose acquisition company, according to the Wall Street Journal. 

PRIME JUMBO MORTGAGE: A growing number of wholesalers offer prime jumbo qualified mortgages.