Good morning! Today is Wednesday, May 19. The FAA reports an alarming increase in unruly passengers and is proposing almost $350,000 in fines this year. The Golden Gate Bridge may soon fix its odd screeching sound. A Tom Brady reality show is coming to Fox TV.
And in mortgage and housing news …
MORTGAGE APPS: The Mortgage Note reports that the mortgage market was considerably stronger in April than last year at the height of the pandemic.
FADING BOOM: A decline in demand is fueling price wars across the mortgage industry and pushing down profits.
REFINANCE OPTION: A new refinancing option is coming for low-income homeowners.
HOME VALUES: U.S. ZIP codes where the median home price is less than $100,000 have posted a 42% jump in home values in the past three years.
SUPPLY: How to grow housing supply in 2021.
LENDING INEQUALITY: A U.S. House of Representatives bill is aimed at addressing lending inequality. HR 166 establishes criminal penalties for violations of prohibited credit discrimination. Another measure in the bill requires the CFPB to review loan applications for compliance with specified consumer laws and to establish an Office of Fair Lending Testing, led by a Director who will be appointed to a five-year term by, and report to, the Director of CFPB.
CLIMATE-CHANGE LAWSUIT: A climate-change lawsuit is nixing a California development.
BUYER’S REMORSE: A new report from Bankrate has found that more and more millennials are experiencing homebuyers remorse after purchasing what was thought to be that home of their dreams.
SHARE THE ADDRESS: NAR’s Board of Directors approves an MLS policy change requiring property addresses for residential listings.
STEADY RATES: What if mortgage rates don’t rise this year?