Good morning! Today is Tuesday, May 18. President Biden joined in calls for a cease-fire, as Israel-Hamas clash rages. Delta Airlines will require new hires to get a Covid-19 vaccine. California won’t lift its mask mandate until June 15.
And in mortgage and housing news …
FORBEARANCE REPORT: The Mortgage Note reports that forbearance levels continue to decrease in the United States, the Mortgage Bankers Association said in its latest weekly report.
DIP WON’T LAST: Mortgage rates sink deeper below 3%, but experts say the dip won’t last.
VANISHING CONTRACTORS: Homeowners and agents across the country can’t find contractors to make repairs and renovations. Why?
TENANT RIGHTS: Colorado’s ambitious tenant rights bill has been whittled down by industry groups. Here’s where it stands.
ALL-CASH: The metros where all-cash offers are scoring contracts and closings.
PATERNALISTIC REGULATION: Senator Elizabeth Warren, who was the creator of the CFPB, says consumers have difficulty in understanding new online products, make poor choices as a result, and must be protected.
METRO PRICE SPIKE: Metro areas with the largest percentage increase in median existing single-family home sale prices in Q1 2021.
CRE DEVELOPMENT FUNDING: Single family rentals are expanding product segmentation and bringing renters to communities who could someday be a future homebuyer.
DRONE TOURS: Real estate agents are enhancing online walkthroughs with indoor drone tours.
RATE COMPETITION: Mortgage lenders are competing more on rates — and that’s good news for borrowers.