Good morning! Today is Wednesday, July 1. The government’s top infectious disease expert told a Senate panel that bars needed to be closed to prevent COVID-19 spread, and the Fed chairman cautioned that “a full recovery is unlikely” until safety is restored. The American Academy of Pediatrics is pushing for students to be physically present in classrooms rather than continue in remote learning for the sake of their well-being.
And in mortgage and housing news …
MORTGAGE DEBT: Total commercial and multifamily mortgage debt increased by $61 billion to $3.72 trillion in the first quarter of the year, according to a new report released by the Mortgage Bankers Association.
FORBEARANCE REPORT: The number of mortgage loans in forbearance decreased slightly in the latest Mortgage Bankers Association weekly report – though there are other indications that the number may be climbing again.
HOUSING HARDSHIP INDEX: COVID-19’s economic effects are proving unpredictable, too — some states economies are being hammered by the resurgent disease, while others remain economically robust.
MULTI-GENERATIONAL LIVING: Multi-generational homebuying is on the rise, with many economic and family perks. Hear from five families who did it.
PANDEMIC EVICTION SUIT: San Francisco real estate groups are suing the city over a pandemic eviction law they say goes too far.
BEST PLACES TO BUY: A list of counties where buying a home is the most affordable.
BEACH PROPERTIES: The pandemic is driving greater interest in second homes and beach properties.
NEGOTIATING BILLS: With unemployment claims at record highs, plenty of Americans have bills coming due that they may not have the money to pay. There are some resources that can help.
AFFORDABILITY CONUNDRUM: A look at the state of affordability in America, tightening lending standards, further inventory strain with a possible suburban boom, and just how long the virus’ impacts could last.
SOCIAL BONDS: Fixed income securities raising money for social causes have seen a spike in interest from issuers and investors during the pandemic.
MORTGAGE FORGIVENESS: New York Attorney General Letitia James has announced a settlement with Caliber Home Loans, Inc. that will provide up to $17 million in mortgage loan forgiveness to current Caliber customers in New York who were placed into unfair, interest-only loan modifications by the company.