Good morning! Today is Friday, January 8. U.S airlines and law enforcement agencies bolstered security at Washington-area airports following a Capitol siege that left four dead. Scientists report that the Pfizer-BioNTech vaccine works against a key mutation found in new, fast-spreading coronavirus variants. A disruption in the polar vortex will likely allow colder air to spill out of the Arctic, creating a colder 2021. And in mortgage and housing news … SHRINKING INVENTORY: The number of houses for sale in the United States reached a record low in December, realtor.com reported in its Monthly Housing Trends Report. There were fewer than 700,000 homes for sale in the US for the first time in the report’s history. HUD RESIGNATION: Hunter Kurtz, Assistant Secretary for Public…
Good morning! Today is Thursday, January 7. Congress certified Joe Biden’s Electoral College win hours after rioters breached the U.S. Capitol. A woman who was shot by Capitol Police during the unrest has died.Hundreds of closed Sears department stores across the nation are being used to administer Covid-19 vaccines. And in mortgage and housing news … CAPITOL REACTION: Business groups – including housing and mortgage organizations – were quick to condemn the mob that overran the Capitol as the Congress was working to certify the election of President-elect Joe Biden. AMAZON HOUSING: Amazon announced a $2 billion investment in affordable housing in communities where it has a significant business presence. MORTGAGE APPS: Mortgage applications closed 2020 slightly lower than mid-December, according to the latest weekly survey released by…
Good morning! Today is Wednesday, January 6. The creator of the videogame “Fortnite” bought a North Carolina mall to redevelop into a global headquarters. Students from across the country will have an opportunity to ask questions of NASA astronauts aboard the International Space Station. And in mortgage and housing news … COMPASS LAWSUIT: A California agent has filed a lawsuit against real estate startup Compass, accusing the company of engaging in bait-and-switch tactics to lure high-performing agents away from other companies. VALUE GAP: The value for Black and Latino-owned homes lags behind overall home values, but the gap is narrowing, according to a new analysis released by Zillow. FORBEARANCE REPORT: The total number of mortgages in forbearance remained unchanged in the last Mortgage Bankers Association report,…
Good morning! Today is Tuesday, January 5. The U.K. issued a stay-at-home order until mid-February amid spiraling infection rates caused by a new variant of the coronavirus. The new Covid-19 variant was detected in New York, Colorado and California. Google employees formed a union. And in mortgage and housing news … PACKING UP: Americans packed up the moving vans and fled New Jersey and New York at a higher rate than any other state in 2020, with the U.S. migration patterns continuing to be to the West and South, according to the annual United Van Lines national migration study. MORTGAGE RATES: 30-year rates start 2021 more than a full point below where they were this time last year. That’s a lot. HOCKEYTOWN: United Wholesale Mortgage will be…
Good morning! Today is Monday, January 4. Georgia Senate candidates try to avoid GOP infighting as the final runoff votes are cast tomorrow. The Food and Drug Administration will meet this week to consider giving half-doses of Moderna’s Covid-19 vaccine to people aged 18 to 55. Instead of making an arrest, a Massachusetts police officer bought groceries for two women caught stealing days before Christmas. And in mortgage and housing news … BIDEN IMPACT: What will Joe Biden do to mortgage rates? A few analysts give their predictions. AMERICAN MORTGAGE MACHINE: A lot has to happen to make 30-year mortgages at super-low interest rates possible. Investors should understand what each player in the process does, and what risks they take. NEIGHBORLY: More than two-thirds of those surveyed…
Good morning! Today is Thursday, December 31. Happy final day of 2020! A new, more contagious variant of the coronavirus was detected in Colorado and Southern California. Alaska Airlines becomes first major US airline to ban emotional support animals. New York officials will allow fans to attend the Buffalo Bills playoff game. And in mortgage and housing news … HOME SALES: Pending home sales declined for the month in November but remained significantly higher than a year earlier, according to a new report released by the National Association of Realtors. SMALL-DOLLAR MORTGAGES: The COVID-19 pandemic has made it more difficult for borrowers to find lenders willing to make small-dollar mortgages of $100,000 or less. MULTI-GENERATIONAL LIVING: How the real estate market has been changed in 2020 by multigenerational living. TEXAS…
Good morning! Today is Wednesday, December 30. U.S. Covid-19 hospitalizations have hit a new high. Florida, Ohio and Texas prioritize elderly over essential workers for Covid vaccine, bucking federal advice.NASA approved two missions to better understand space weather. And in mortgage and housing news … PRICES, SALES UP: Home prices surged 14 percent and pending home sales were up 34 percent year over year for the four-week period ending December 20, according to a report released by Redfin. RATE PREDICTIONS: Will mortgage rates go up or down in January 2021? HOUSING RELIEF: The National Association of Realtors championed several provisions within the COVID-19 relief measure, including rental assistance, extended unemployment, and small business assistance. EQUITY BOOM: Homeowners enjoyed the largest year-over-year home equity gain in six years during the third quarter.…
Good morning! Today is Tuesday, December 29. The holiday surge in coronavirus cases will likely result in extended stay-at-home orders for Southern California and other areas, as intensive care beds remain in dangerously short supply. Coronavirus vaccine passports are being developed for travel in 2021. A machine learning algorithm has counted more than 100,000 craters on the moon. And in mortgage and housing news … APPRAISAL INPUT: The Federal Housing Finance Agency requested input on potential changes to “appraisal-related policies, practices and processes.” NY EVICTIONS: The New York state legislature voted to stop evictions until May 1. What you need to know. HOUSING COST: The average American spends $1,674 a month on housing, but is that too much? URBAN EXODUS: Homeowners aren’t fleeing cities in droves despite Covid-19.…
Good morning! Today is Monday, December 28. President Trump signed the Covid economic stimulus and relief bill into law. Law enforcement confirmed that the suspect in the Nashville Christmas Day bombing died in the explosion. Oxford University scientists successfully turned CO2 into jet fuel, raising the possibility of conventionally-powered aircraft with net zero emissions. And in mortgage and housing news … HOME PRICES: Home prices increased 1.5 percent in October – and were 10.2 percent higher than October 2019 levels, according to a report released Wednesday by the Federal Housing Finance Agency. MORTGAGE APPS: Mortgage applications inch higher. MORTGAGE RATES: Mortgage rates slip to a 16th record low. Freddie Mac sees COVID-19 numbers and vaccinations as the key drivers near-term. MULTIFAMILY FORBEARANCE: The Federal Housing Finance Agency announced that…
Good morning! Today is Wednesday, December 23. President Trump slammed the recently passed $900 billion COVID-19 relief package, and demanded that Congress amend the bill to increase direct payments to Americans. States impose the strictest lockdowns on businesses and social gatherings since spring in an effort to prevent a holiday-fueled coronavirus surge. A Canadian gold miner unearthed a mummified Ice Age wolf puppy. And in mortgage and housing news … STREAK OVER: Existing home sales decline in November. RESOLUTION PLANNING: FHFA announces proposed a new rule on living wills for GSEs. FORBEARANCE REPORT: The number of mortgages in forbearance increased slightly. REBOOTED PPP: The rebooted PPP includes changes on issues such as eligibility for second-time applicants. BEFORE YOU BUILD: Here’s what you should know about construction loans. HISPANIC HOMEOWNERSHIP: Realogy spotlights how the Hispanic population…
