Mortgage Roundup (8/14/20) – Fees, Rates & Myths

Good morning! Today is Friday, August 14. After the U.S. Postal Service cites concerns about its capacity to meet delivery standards, Pennsylvania asks court to extend mail-in voting deadlines. The Justice Department said it determined Yale University has discriminated against Asian-American and white applicants. The Pentagon is investigating UFO sitings. 

And in mortgage and housing news …

ADVERSE MARKET: A coalition of housing, banking and public interest groups strongly condemned the Federal Housing Finance Agency for implementing an “adverse market fee” on Fannie Mae and Freddie Mac mortgage refinances.

MORTGAGE RATES: The 30-year fixed-rate mortgage averaged 2.96 percent for the week – up slightly from last week’s record 2.88 percent, according to Freddie Mac’s Primary Mortgage Market Survey.

BEATING THE FEE: How homeowners can beat the new mortgage refinancing fee

FED BUYS MBS: The Federal Reserve bought $39.871 billion of agency mortgage-backed securities in the last week and sold $17.85 billion.

LANDLORD PROTEST: Landlords are organizing a protest around the lack of mortgage relief government policies and the inability to hit tenants with eviction notices.

URBAN EXODUS: It’s not just emotional buying, real estate agents say. There are smart and strategic reasons that Americans of all ages, races and incomes are moving away from urban centers.

TIPPING POINT: As experts fear a nationwide eviction crisis, a look at what the housing industry’s long-term problems and economic challenges may be. 

OFFSHORE DELIVERY CENTERS: How Offshore Delivery Centers are helping mortgage lenders improve operations.

MORTGAGE MYTHS: Five rampant mortgage myths debunked.  

RECOVERY: New York City’s suburbs are experiencing a booming, competitive seller’s market. Manhattan is lagging, even in comparison to Brooklyn.