Good morning! Today is Tuesday, September 22. The CDC says guidance on airborne virus transmission was a draft published in error. Walmart is expected to take a 7.5 percent stake in the U.S. operations of TikTok. Big Ten football will resume in October after adopting protocols to prevent the spread of Covid-19.
And in mortgage and housing news …
SELLER’S MARKET: A pair of housing reports finds that U.S. home prices and sales continue to climb quickly amid market scarcity and the coronavirus pandemic.
FORBEARANCE NUMBERS: The share of U.S. mortgage borrowers whose loans are in forbearance dropped below 7 percent for the first time since mid-April.
LONGTERM LOW RATES: Here are some things to consider as you plan for low interest rate environmentover the next few years.
MILLENNIAL INVESTORS: Almost 50 percent of millennials are hacking long distance real estate investmentto build wealth in the fourth quarter of 2020
NON-QM COMEBACK: As housing rebounds, non-qualified mortgages for business owners make a comeback.
GSE APARTMENT MARKET: Freddie Mac Multifamily’s Apartment Investment Market Index fell by 0.3 percent in the second quarter after a quarterly increase in Q1.
LENDER BANKRUPTCY: More than 500 banks have failed since 2009. What happens to your mortgage if your lender closes or goes bankrupt?
RECKONING: The Covid-19 lockdown is squeezing real estate from all sides and threatens to burst the housing and mortgage bubble.
HOME EQUITY: Home equity surges as demand for homes soars and mortgage rates hover near record lows.
HOUSING RECOVERY: Fannie Mae’s latest Economic & Housing Outlook reported that the GSE’s economics team expects quarter three real gross domestic product (GDP) to grow at an annualized pace of 30.4 percent. This represents an increase from Fannie’s August forecast of 27.2 percent.
MORTGAGE FRAUD: Twelve people, most of them from metro Atlanta, face charges after federal prosecutors said they defrauded Fannie Mae and Freddie Mac for four years and helped secure more than 100 mortgages for unqualified homebuyers.