Mortgage Roundup (5/18/21) – Dip, Rates & Tenants

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.