Good morning! Today is Monday, June 8. Now that SpaceX has successfully launched NASA astronauts into space, Elon Musk is moving to develop a large capacity Starship rocket. While most regions are seeing a drop in COVID-19 cases, California, Florida and a few others are seeing increases.
And in mortgage and housing news …
MORTGAGE RATE CLIMBS: Freddie Mac’s Primary Mortgage Market Survey found that the 30-year fixed-rate mortgage increased to 3.18 percent this week.
APPEALS COURT JUDGMENT The 4th Court of Appeals in San Antonio reversed a trial court’s judgment on real estate analytic firm HouseCanary Inc.’s fraud and misappropriation of trade secret claims against Amrock Inc., a Detroit home appraisal company affiliated with Quicken Loans Inc. Amrock formerly was known as Title Source Inc.
GSE CONSERVATORSHIP: Experts debate how much of an impact the coronavirus pandemic had on the date when Fannie Mae and Freddie Mac will be released from conservatorship.
MORTGAGE PAYOR CONFIDENCE: Nearly 65 percent of Americans felt confident about paying their mortgage obligations late last month.
REVERSE MORTGAGES: If you’re 62 or older, a reverse mortgage could provide some needed funds right now. But for the short-term, there are better solutions.
TOO GOOD TO BE TRUE: Mortgage forbearance can lead to foreclosures.
GOOD NEWS/BAD NEWS: “It’s going to be ugly,” analyst says as mortgage rates suddenly spike on surprisingly positive jobs report.
CLIMATE CHANGE: U.S. taxpayers could be on the hook for billions of dollars in climate-related property losses as the government backs a growing number of mortgages on homes in the path of floods, fires and extreme weather.
RENTALS: June 1 rent payments show stress, with some cities seeing steep declines.
WEWORK LAWSUIT: Investors who had bought shares in WeWork prior to the IPO claim the company spent recklessly.
MORTGAGE SHOPPING: If you don’t compare mortgage rates, here’s how much you lose.