Mortgage Roundup (6/1/21) – Sellers, Risk & Caps

Good morning! Today is Tuesday, June 1. The world’s biggest meat supplier has become the latest casualty of a cybersecurity attack, posing a fresh threat to global food security already rattled by the Covid-19 pandemic. Peru on Monday more than doubled its official coronavirus death toll, becoming the country with the highest Covid-19 mortality per capita anywhere in the world. In Thailand and around the world, dogs are being trained to sniff out the coronavirus in people.

And in mortgage and housing news …

DISAPPEARING SELLERS: Why homes for sale nearly disappeared in these markets. 

PRICE GROWTH RISKS: A study finds that sustained home price growth may hold risks for mortgages.

RATE CALCULUS: The way mortgage rates are determined explains why everyone gets a different number.

INTEREST RATE CAP: Big bank CEOs are open to the idea of a federal 36% interest rate cap on consumer loans.

WHITE HOUSE PLAN: Will President Biden’s $6 trillion budget help house hunters become buyers? 

NO DOWN PAYMENTS: A bill in Congress would allow teachers, first responders access to no down payment mortgages.

CREDIT SCORES: Ten reasons credit scores can drop. 

MORTGAGE SHOPPING: Five must-know tips for mortgage shopping. 

MANUFACTURED HOMES: Few lenders offer loans for manufactured home buyers, but a CRA incentive could change that. 

CLOSING COSTS: How much are you likely to pay in closing costs?