Mortgage Roundup (6/19/20) – Low Rates, Tech Hubs & Inequality

Good morning! Today is Friday, June 19. More companies and governments are recognizing today’s Juneteenth as a paid holiday to commemorate the Emancipation Proclamation. A California order requires masks in public following spike in coronavirus hospitalizations. NBA players will wear a “smart ring” to provide early warning of a coronavirus infection. 

And in mortgage and housing news …

ANOTHER RECORD: Rates for a 30-year fixed-rate mortgage tumbled to an average of 3.13 percent his week, the lowest rate since Freddie Mac started tracking them in 1971.

TECH HUBS LEAD: The recovery in the housing market is continuing – and is being led by five high-tech hubs, according to the Weekly Housing Recovery Report released by

GSE RECAPITALIZATION: GSE’s are facing some speed bumps on their way to recapitalization.

INEQUALITY: The National Association of Realtors is partnering with the U.S. Chamber of Commerce’s Equality Opportunity Initiative to be part of a national effort to examine economic inequality in the U.S. So far, more than 400 organizations have signed on to the initiative. 

WAITING OUT 2020: What to tell sellers who want to wait until next year to list their homes. 

BLACK HOMEOWNERSHIP: Why it costs more to borrow money for a home if you are black and what can be done to boost homeownership. 

NO MORE 30-YEAR MORTGAGE: Climate change is starting to transform the classic 30-year home loan, a fixture of the American experience and financial system that dates back generations. 

REAL ESTATE INVESTMENT: The coronavirus pandemic is changing real estate investment strategies in several key ways. 

JUMBO LOANS: Jumbo loan requirements can vary significantly by lender and applicant, but there are clear qualification differences between jumbo loans and conventional loans. 

HIRING: Mortgage tech company Ellie Mae is looking to fill 80 positions

HOUSING MARKET RECOVERY: Home buyers are back, looking for homes — and that’s helping to lift the stocks of builders, retailers and home goods suppliers in the process.