Good morning! Today is Monday, May 3. As the U.S. began withdrawing troops from Afghanistan, Taliban forces launched a rocket attack on Kandahar airfield. A SpaceX capsule with four astronauts returning from the International Space Station splashed down safely in the Gulf of Mexico. Medina Spirit won the 147th running of the Kentucky Derby, kicking off the 2021 race for the Triple Crown. And in mortgage and housing news … NAVIGATING 2021: How to budget, prepare for bidding wars and surging prices when buying a home in 2021. FAIR HOUSING ACT: The Department of Housing and Urban Development charged a California mortgage modification service with discrimination. The complaint reflects HUD’s focus on “fair servicing” in addition to fair lending. NY RECOVERY: The New…
Good morning! Today is Friday, April 30. A global shortage of semiconductors is disrupting production of iPads and MacBooks. In an effort to cut down on corruption among Vatican employees, Pope Francis instituted a new policy that prohibits them from receiving any work-related gift with a value over $48. Two in three Americans surveyed feel more alone than ever before, many admit to crying for first time in years. And in mortgage and housing news … BELOW THREE: The Mortgage Note reports that mortgage rates inched up ever so slightly this week to 2.98 percent. HOME SALES: Pending home sales are rising less than expected in March as prices soared. BIDEN TAX HIKE: President Biden’s proposed tax hikes could be a double-edged sword for real estate. What…
Good morning! Today is Thursday, April 29. Federal investigators seized former New York City Mayor Rudy Guiliani’s electronic devices as part of a probe into possible violation of foreign-lobbying rules. The TSA wanted 6,000 new officers by summer, but most positions remain unfilled as airlines expect a passenger surge. Microsoft is retiring its default font Calibri, and it wants your help choosing a new one. And in mortgage and housing news … FHFA REFINANCE OPTION: The Mortgage Note reports on a new Federal Housing Finance Agencyrefinance option that will provide low-income borrowers with reduced interest rates and lower monthly payments. APPLICATIONS: Mortgage applications declined slightly for the week, the Mortgage Note reports. UWM OUSTED: Guaranteed Rate ousts United Wholesale Mortgage as top prime non-agency Mortgage Backed…
Good morning! Today is Wednesday, April 28. The CDC says fully vaccinated Americans don’t need to wear a mask outside, except in crowded settings. Health officials in India say the country has more than a half billion Covid cases. For the first time in 25 years, a gray horse is favored to win the Kentucky Derby. And in mortgage and housing news … FORBEARANCE REPORT: The Mortgage Note reports that the share of US mortgages in forbearance edged down ever so slightly last week, with 2.25 million American homeowners still in forbearance plans. HOUSE PRICES: The Mortgage Note reports the nation’s house prices continued to climb in February across the nation and in every region, according to the latest House Price Index released by the Federal…
Good morning! Today is Tuesday, April 27. The new census shows that the U.S. population grew at the second lowest pace in history. Californians gathered enough signatures to force a recall election of Gov. Gavin Newsom. The pink Super Moon set this morning – the first of two Super Moons in 2021. And in mortgage and housing news … UWM ISHBIA SUED: The Mortgage Note reports that a Florida real estate broker filed a federal lawsuit against United Wholesale Mortgage’s parent company and CEO Mat Ishbia over the launching the Broker Wars. FED ACTION: What to know about how the Federal Reserve’s actions affect mortgages. INSURANCE COSTS: Insurance costs threaten Florida’s real estate boom. LOWER PAYMENTS: Five ways to lower your monthly mortgage payment. ESCALATION CLAUSE: Builders are trying…
Good morning! Today is Monday, April 26. The United States is providing vaccine and medical supplies to India as it battles a Covid spike. Vaccination sites in the United States are gearing up to start giving the Johnson & Johnson Covid-19 vaccine again after a pause to look into blood clot reactions. NASA reported that the SPACEX starship had a near miss with a UFO. Astronauts on board were told to buckle up and prepare for a crash. And in mortgage and housing news … UNAUTHORIZED WITHDRAWALS: Payments to the Texas-based mortgage servicing company known as Mr. Cooper left checking accounts overdrawn and people unexpectedly without access to their money. FLIPPING PROFITS: Red hot real estate markets have turned surprising profits for unintentional property…
Good morning! Today is Friday, April 23. The U.S. Senate passed a bill to combat hate crimes against Asian Americans. The University of California and Cal State systems plan to require Covid-19 vaccinations this fall. The U.S. House approved a bill that would admit Washington, D.C., as the 51st state. And in mortgage and housing news … BELOW THREE: The Mortgage Note reports that mortgage rates fell below 3 percent again this week for the first time since April. FORBEARANCE: More homeowners are leaving mortgage forbearance, but they still need help. ESTATE PLANNING: What happens to your mortgage when you die? STILL AFFORDABLE: Most buyers can still afford to buy a home despite the red-hot market. 2021 FORECAST: Nervous buyers…
Good morning! Today is Thursday, April 22. Two-hundred million Covid-19 vaccines have been given in 200 days. The Justice Department will investigate whether the Minneapolis Police Department has engaged in a pattern of unconstitutional policing. Commercial airline pilots keep reporting UFOs over Canada. And in mortgage and housing news … ORIGINATION FLEXIBILITY: The Mortgage Note reports on a Federal Housing Finance Agency announcement that Fannie Mae and Freddie Mac will extend some temporary loan origination flexibilities through May 31, while allowing some to expire at the end of April. MORTGAGE APPS: The Mortgage Note reports that mortgage applications climbed 8.6 percent for the week ending April 16, according to the latest Weekly Mortgage Applications Survey released by the Mortgage Bankers Association. HISPANIC HOMEOWNERSHIP: The number of Hispanic homeowners…
Good morning! Today is Wednesday, April 21. A Minneapolis Jury finds Derek Chauvin guilty on all three charges: second-degree murder, third-degree murder, and second-degree manslaughter. The European Union called for a warning label to be added to J&J vaccines, but concluded that the benefits far outweigh the risks. Netflix reports a dramatic drop in subscribers. And in mortgage and housing news … HOUSING STARTS: The Mortgage Note reports that housing starts increased 19.4 percent in March amid strong buyer demand. REMEMBERING MONDALE: The Mortgage Note remembers former Vice President Walter Mondale for his role in passing the Fair Housing Act as a senator from Minnesota. GSEs SHRINK: Under FHFA Director Mark Calabria, there have been executive departures from the GSEs and housing policies adverse to the housing sector.…
Good morning! Today is Tuesday, April 20. The Biden administration is considering a rule to require tobacco companies to reduce the nicotine in all cigarettes sold in the U.S. to levels at which they are no longer addictive. The US Army has approved the call-up of 250 members of the DC National Guard, as the nation’s capital braces for potential protests and unrest ahead of a verdict in the Derek Chauvin trial. NASA flew a helicopter on Mars – the first time an aircraft has flown on another planet. And in mortgage and housing news … GREEN HOUSING: The Mortgage Note reports Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez introduced a “Green New Deal for Public Housing Act” that would invest…
