Homeownership for low-income Americans is a major policy plank for countless political leaders, as well as an intensively studied issue among nonprofit and research organizations. The interest is unsurprising: Getting more people at all income levels into homeownership is broadly seen as a net positive for a nation’s economic and social health. In recent years,…
Good Morning! Today is Friday, October 8. Senate Republicans and Democrats reached a deal to temporarily extend the debt ceiling through December. Tokyo was hit by a 6.1 magnitude earthquake. Ireland signed onto a global agreement to set a minimum 15% corporate tax rate. And in mortgage and housing news… Black Knight: The number of plans in…
Good Morning! Today is Thursday, October 7. Facebook has slowed the release of new products for “reputational reviews.” GM wants to double its revenue by 2030 with battery-electric models and auto services. WHO approved the first Malaria vaccine. A federal judge issued a preliminary injunction blocking the Texas abortion ban. And in mortgage and housing news……
Mortgage rates fell slightly to 2.99% over the past week, Freddie Mac reported Thursday. Freddie’s Primary Mortgage Market Survey (PMMS) found that the 30-year fixed-rate mortgage (FRM) averaged 2.99%. A year ago at this time, the 30-year FRM averaged 2.90 percent. “Mortgage rates continue to hover at around three percent again this week due to rising economic and…
Good Morning! Today is Wednesday, October 6. Some Democrats propose changing the filibuster to bypass fighting about the debt limit. Johnson & Johnson asked the FDA to approve its Covid-19 booster shot. The Justice Department is reviewing its decision not to prosecute the FBI agents who disregarded allegations about Larry Nassar and later lied about their actions.And in…
Mortgage loan application volume fell 6.9% last week, the Mortgage Bankers Association’s (MBA) weekly survey reports. The Market Composite Index, which measures application volume, fell 6.9% on an adjusted basis. On an unadjusted basis, they fell 7% from the week before, which is 13% lower year over year. The share of refinancing applications fell 10% and was…
Forbearances fell to just 2.89% of servicers’ portfolio volume last week, down from 2.96% the week before, according to the Mortgage Bankers Association’s (MBA) latest survey. It’s just the second time they’ve fallen below 3% since March 2020. The estimated number of homeowners in forbearance plans is around 1.4 million. The decline is part of…
Good Morning! Today is Friday, October 1. Lawmakers avoided a partial shutdown last night by signing a bill to fund the government. House Democrats delayed a vote on the $1 trillion infrastructure bill. Supreme Court Justice Brett Kavanaugh tested positive for COVID-19. U.S. jobless claims remained near pandemic lows during September. And in mortgage and housing…
Good Morning! Today is Thursday, September 30. The House plans to vote today on a $1 trillion infrastructure plan. A new AP poll finds President Biden’s vaccine mandate splits Americans down party lines. The NCAA will allow women’s basketball to use the phrase “March Madness,” which used to be restricted to the men’s tournament. And in…
Mortgage rates rose to 3.01% over the past week, Freddie Mac reported Thursday. Freddie’s Primary Mortgage Market Survey (PMMS) reports the 30-year fixed-rate mortgage (FRM) averaged 2.88 percent. A year ago at this time, the 30-year FRM averaged 2.90 percent. “Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest…
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