Good morning! Today is Tuesday, May 4. President Biden is raising the refugee admissions cap to 62,500, after facing blowback for backing away from that number amid a surge of migrants crossing the southern border illegally. The next generation of the Covid-19 vaccine could be a pill or spray. Bill Gates, co-founder and former CEO of Microsoft, said in a tweet that he and his wife, Melinda Gates, will be splitting up after 27 years.
And in mortgage and housing news …
EVICTION BAN: The Mortgage Note reports on the federal government sending letters to the nation’s largest apartment landlords warning them to honor federal rules preventing renters from being evicted for non-payment of rent during the pandemic.
COMMERCIAL DELINQUENCIES: The Mortgage Note reports that delinquency rates for mortgages backed by commercial and multifamily properties decreased again in April, according to the Mortgage Bankers Association’s (MBA) latest monthly CREF Loan Performance Survey.
PENSION FUND BUYERS: Yield-chasing investors are snapping up single-family homes, competing with ordinary Americans and driving up prices.
SEGREGATED LISTINGS: Zillow blasts back at real estate startup’s antitrust suit.
BUYING BARRIERS: All the things that could ruin your home purchase.
INVESTING: A beginner’s guide to real estate investing, according to experts.
DERISKING AFFORDABLE HOUSING: Advocates work to correct the perception that building affordable housing is a risk.
NON-QM LENDING: As the Federal Housing Finance Agency restricts investment lending, one non-QM lender is staying focused on the customer.
SAVINGS EFFECT: Many households may be ready to unleash the nest egg they’ve built during the pandemic into the economy.
QUICK SALES: Realtor.com reports that the number of new home sellers rose in April compared to last year, when most cities had shelter-in-place orders in effect.