Good morning! Today is Monday, June 1. Protests sparked by the death of George Floyd in Minneapolis police custody escalate. Plexiglass is in high demand as businesses closed by the coronavirus reopen. Two NASA astronauts are successfully docked on the International Space Station, opening a new chapter in commercial space endeavors.
And in mortgage and housing news …
RENTERS STRUGGLE: A decade after the last housing crisis, millions of Americans are once again struggling to pay their mortgage. But this time the problem is even more dire among renters.
APPRAISAL STANDARDS: Relaxed appraisal standards have hurt home prices, making it difficult for sellers trying to sell a home, buyers trying to get a high enough loan amount approved, and investors trying to refinance loans to buy more properties or to make the numbers work on new investments.
WHITHER PRICES: As mortgage rates go down during the pandemic, home prices are going every which way.
FED POLICY: Two analysts say junk bond investors are getting a sweet deal from the central bank at the expense of ordinary Americans.
MISLEADING INFORMATION: The inspector general’s office of the Department of Housing and Urban Development called out several banks for making coronavirus mortgage relief confusing to consumers.
POCKET-LISTING BAN: A Los Angeles real estate firm is suing realtors over pocket listings.
MORTGAGE STANDARDS: Access to credit is declining nationwide, driven by job losses.
MORTGAGE PAY-OFF: Is pre-paying your mortgage a good financial decision?
FLORIDA RENTALS: Southwest Florida landlords are offering modest breaks on apartment rents.
PRICE CORRECTIONS: As the real estate market begins its recovery, many expect price corrections.