Good morning! Today is Friday, May 28. Memorial Day air travel is set to boom, as a rapidly expanding airline industry rises to meet the demand. Johnson & Johnson and the FDA expect to announce today that contamination problems at the plant are resolved, clearing the way for millions more vaccine doses to become available. NASA is preparing to rocket around 5,000 tardigrades “water bears —” and 128 glow-in-the-dark baby squid into space. And in mortgage and housing news … BELOW THREE: The Mortgage Note reports that the 30-year fixed-rate mortgage average fell below 3 percent for the week again in Freddie Mac’s weekly Primary Mortgage Market Survey. CASH OFFERS: HomeLight products aim to help Texas buyers make cash offers. MORTGAGE DEBT: As home prices soar, so does…
Good morning! Today is Thursday, May 27. The U.S. is investigating the source of the Covid-19 virus. Google struck a deal with a national hospital chain to develop algorithms to help improve operating efficiency, monitor patients and guide doctors’ decisions. Tasmanian devils are born in the wild on Australian mainland for the first time in 3,000 years. And in mortgage and housing news … COMMISSION DISCLOSURE: Real estate agents hold their breath on the fate of commission disclosure now in the hands of the DOJ. RENOVATION REALITIES: Five harsh renovations realities you will face this summer. NFT REAL ESTATE: People are selling and buying art, furniture and even houses and land that exist only virtually. RENTALS: A red-hot real estate market is making it hard to find rentals. INVESTORS: Investors buying real…
Good morning! Today is Wednesday, May 26. After the Colonial Pipeline hack, the U.S. will require operators to report cyberattacks. Amnesty International reports that there is a “high probability” that Roman Protasevich, the journalist detained in Belarus after a plane diversion, is being tortured. A new study based on blood samples from hundreds of thousands of people in the United States and United Kingdom finds that human lifespan could double. And in mortgage and housing news … HOME PRICES: The Mortgage Note reports that home prices posted record gains, and over half of the homes that went under contract in February wound up being subject to bidding wars. DOWN PAYMENT AID: A fight in Congress is looming over down payment aid to close…
Good morning! Today is Tuesday, May 25. The U.S. issued a warning against travel to Japan due to the country’s rising Covid cases and low vaccination rates. Amazon nears a deal to purchase MGM. The New York City schools will fully reopen in the fall with no virtual option. And in mortgage and housing news … FORBEARANCE REPORT: The Mortgage Note reports that forbearance levels in the United States continued their decline in the latest report released by the Mortgage Bankers Association. FHFA REFINANCE: FHFA’s new mortgage refinance option could cut payments by hundreds of dollars for some homeowners. MORTGAGE COSTS: Here are the four costs that make up your monthly mortgage payment. DRIVING FORCES: What factors are driving mortgage rates this week. MAGIC 800: Do you need an 800 credit score to get…
Good morning! Today is Monday, May 24. The Army is expanding its allowed hairstyles for women. Phil Mickelson makes history as the oldest major championship winner in golf history. Billions of cicadas are appearing in the biggest emergence event since 2004. And in mortgage and housing news … EXISTING HOME SALES: Existing-home sales declined yet again, a result of the low inventory of properties for sale and rising prices keeping buyers at bay. PURCHASING POWER: Why LGBTQ+ Americans are less likely to own homes. BIDDING WAR: How to win a bidding war in a hot housing market. DEFAULT RATES: First mortgage default rates slip in April. WEALTH GAP: A new report says $1.5 trillion could be added to the economy if the racial wealth gap in housing was fixed. FORBEARANCE END: Mortgage distress…
Good morning! Today is Friday, May 21. Israel approves cease-fire plan to end hostilities with Hamas. President Biden signed a bill to address an increase in Asian hate crimes. Tesla drivers are posting videos of themselves overriding safety functions to self-driving modes. And in mortgage and housing news … MORTGAGE RATES: The Mortgage Note reports that mortgage interest rates inched up to three percent. BIGGER MORTGAGES: Homebuyers are applying for ever bigger mortgages as home prices soar. MORTGAGE VOLUME: Mortgage volume dropped in April. Despite interest rates trending downward across all mortgage products, the decreases did not seem to be enough to bring borrowers — particularly refi borrowers — back to the table. SELLER PROFITS: Sellers are taking advantage of today’s highly competitive house-hunting environment. Data researchers at…
Good morning! Today is Thursday, May 20. Investors have shunned riskier assets including bitcoin, dogecoin and ether this week. Europe has agreed to reopen to vaccinated travelers. Massachusetts will lift all Covid-19 restrictions for fully vaccinated people May 29. And in mortgage and housing news … MORTGAGE APPS: The Mortgage Note reports that mortgage applications increased 1.2 percent for the week, according to the latest report released by the Mortgage Bankers Association. COMMERCIAL REAL ESTATE: Undeterred by empty offices and hotel rooms, investors continue to bet on commercial real estate. TAPPABLE HOME EQUITY: Home equity is at a record high. Here’s how to tap your house for needed cash. CFPB COMPLAINTS: Homeowner complaints to federal mortgage regulators have one thing in common. INSURANCE REFORM: Senators still can’t find common ground…
Good morning! Today is Wednesday, May 19. The FAA reports an alarming increase in unruly passengers and is proposing almost $350,000 in fines this year. The Golden Gate Bridge may soon fix its odd screeching sound. A Tom Brady reality show is coming to Fox TV. And in mortgage and housing news … MORTGAGE APPS: The Mortgage Note reports that the mortgage market was considerably stronger in April than last year at the height of the pandemic. FADING BOOM: A decline in demand is fueling price wars across the mortgage industry and pushing down profits. REFINANCE OPTION: A new refinancing option is coming for low-income homeowners. HOME VALUES: U.S. ZIP codes where the median home price is less than $100,000 have posted a 42% jump in home values in the past…
Good morning! Today is Tuesday, May 18. President Biden joined in calls for a cease-fire, as Israel-Hamas clash rages. Delta Airlines will require new hires to get a Covid-19 vaccine. California won’t lift its mask mandate until June 15. And in mortgage and housing news … FORBEARANCE REPORT: The Mortgage Note reports that forbearance levels continue to decrease in the United States, the Mortgage Bankers Association said in its latest weekly report. DIP WON’T LAST: Mortgage rates sink deeper below 3%, but experts say the dip won’t last. VANISHING CONTRACTORS: Homeowners and agents across the country can’t find contractors to make repairs and renovations. Why? TENANT RIGHTS: Colorado’s ambitious tenant rights bill has been whittled down by industry groups. Here’s where it stands. ALL-CASH: The metros where all-cash offers are scoring…
Good morning! Today is Monday, May 17. Bill Gates left the Microsoft board amid a probe into a prior relationship with a staffer. Israel launched a new round of heavy air strikes on Gaza City. A wildfire near Los Angeles continues to grow and evacuations were ordered. And in mortgage and housing news … BANK JOB CUTS: U.S. banks could cut 200,000 jobs over next decade, top analyst says. LOW-TECH APPS: Half of big lenders still get most mortgage applications on paper. TOO MUCH: Some questions to consider if you are thinking of going beyond your original budget to buy a home. SELLER’S MARKET: Some tips for navigating a hot housing market. FIRST-TIME BUYERS: The housing market is a tale of two Americas and first-time buyers are struggling. LOW MORTGAGE PAYMENT: Four ways…
