Mortgage Roundup (5/6/21) – Bans, May & Rates

Good morning! Today is Thursday, May 6. The U.S. birth rate has dropped significantly. The Pentagon is tracking an out-of-control Chinese rocket expected to crash into Earth this weekend somewhere over the Pacific Ocean. 

And in mortgage and housing news …

EVICTION BAN: The Mortgage Note reports that a federal court tossed the CDC’s ban on evicting tenants who do not pay their rent during the Covid-19 pandemic, saying the health agency lacks the authority to issue such a moratorium.

MAY DAYS: ATTOM Data Solutions’ researchers analyzed 40.1 million home sales from 2011 to 2020. Home sellers, on average, saw a 13.4% above estimated market value when selling in May—the highest of any other month

RESHAPED REAL ESTATE: The Covid retreat from urban centers has been real, but that doesn’t mean prices have gone down. A look at the pandemic’s impact on real estate. 

RISING RATES: As mortgage rates go up, will this temper the booming real estate market?

BUYERS’ EXPECTATIONS: Home shoppers believe inventory is improving, but are they too optimistic? 

NEW OFFICE HOTSPOT: Startups and landlords are banking that even after the pandemic, people will want a place to work remotely beyond their living rooms.

SQUARE FOOTAGE DISPUTES: Why do disputes about square footage in listings arise and what does it mean for value? 

RENOVATION VALUE: A breakdown of the renovations that provide the biggest bang for the buck

REFINANCE IMPACT: Will refinancing your mortgage lower your credit score

DEVELOPERS PREVAIL: California’s First District Court of Appeal issued a consequential decision reaffirming the State’s ability to pass housing legislation limiting local governments’ discretion to deny housing projects.

ZILLOW’S PROFITS: Zillow’s profits beat expectations with housing demand driving high web traffic. 

ALOHA AGAIN: Hawaiian vacation property occupancy rates are now near 50%, which is lower than the U.S. average but a notable uptick from 12% a year earlier.