Good morning! Today is Wednesday, December 9. The White House proposed a new Covid relief package with lower unemployment benefits in exchange for $600 stimulus payments. Tesla is moving the company out of Silicon Valley to Texas. An F-16 fighter jet crashed in Michigan’s Upper Peninsula. And in mortgage and housing news … HUD SECRETARY: President-elect Joe Biden is expected to name Congresswoman Marcia Fudge of Ohio as the Secretary of Housing and Urban Development. PURCHASE SENTIMENT: The Fannie Mae Home Purchase Sentiment Index dipped by 1.7 points in November, its first decline after three continuous months of increases. FORBEARANCE REPORT: The number of U.S. mortgages in forbearance held steady to close out November, with about 2.8 million homeowners still pausing their mortgage payments amid the…
Good morning! Today is Tuesday, December 8. The U.K. became the first Western country to start distributing a Covid-19 vaccine, rolling out a mass inoculation program that could provide a template for other countries. Uber is selling its self-driving car division after its five years of developing self-driving vehicles was marred by a fatal crash and litigation. Chuck Yeager, the pilot who broke the sound barrier, died at age 97. And in mortgage and housing news … TO-DO LIST: HFSC Chair Rep. Maxine Waters issued President-elect Biden a lengthy to-do list. GEORGIA SENATE: The American Bankers Association is jumping into the Senate runoff election in Georgia, dropping an ad thanking Sen. David Perdue for his role in “helping Georgia families and small businesses during…
Good morning! Today is Monday, December 7. Federal officials said a Covid-19 vaccine could be distributed to as many as 24 million people by mid-January. Rudy Giuliani tweeted that he is getting great care and feeling good, after being admitted to Georgetown University Hospital for Covid-19. A snowy Nor’easter knocked out power in Maine and New Hampshire. A California man punched a 350-pound bear to save his dog. And in mortgage and housing news … NOT SO FAST: Rep. Maxine Waters, the chairwoman of the House Financial Services Committee sent FHFA Director Mark Calabria a letter last week urging him to “fully engage with Congress, halt all efforts to raise the capital requirements for Fannie Mae and Freddie Mac and halt all…
Good morning! Today is Friday, December 4. Joe Biden said he will join former Presidents Obama, Bush and Clinton in getting the Covid-19 vaccine in public to demonstrate its safety. California issues a regional stay-at-home order after Covid cases spike. The DOJ is suing Facebook for illegally reserving high-paying jobs for immigrant workers it was sponsoring for permanent residence and for failing to adequately search for U.S. hires. And in mortgage and housing news … NEW RECORD: The 30-year fixed-rate mortgage dropped to its lowest level in history again this week, according to Freddie Mac’s weekly Primary Mortgage Market Survey. FORECLOSURE BAN: The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will extend the moratoriums on single-family foreclosures and real estate owned…
Good morning! Today is Thursday, December 3. The number of daily Covid-19-related deaths in the U.S. passed 3,000, while hospitalizations topped 100,000 for the first time. Democratic leaders conceded demands for coronavirus relief, fueling hopes that an agreement could be reached with Republicans by year’s end. Hawaii just created a long-term-stay program for U.S. residents, paying for airfare to 50 out-of-staters willing to spend at least a month in Hawaii volunteering with nonprofits. And in mortgage and housing news … MORTGAGE APPS: Mortgage applications decreased slightly Thanksgiving week, once adjustments are made for the long holiday weekend. FORBEARANCE UP: The share of mortgages in forbearance in the United States increased for the secondweek in a row before Thanksgiving GSE REDO: Treasury Secretary Mnuchin is in talks…
Good morning! Today is Wednesday, December 2. Britain became the first Western nation to grant emergency-use authorization for a Covid-19 vaccine, clearing a shot developed by Pfizer and Germany’s BioNTech to be distributed in limited numbers within days. The CDC advises that health care workers and long-term care facility residents get Covid-19 vaccine first. The first blood test for Alzheimer’s is on the market without FDA approval. And in mortgage and housing news … PAY REDUCED: With the Covid pandemic stretching into its 10th month in the United States, more than a third of full-time America workers report having their pay cut. ALABAMA TOWN SUED: The housing authority of a small Alabama town was sued by the U.S. Justice Department for allegedly discriminating against Black housing…
Good morning! Today is Tuesday, December 1. Today is Giving Tuesday, a global celebration of philanthropy and the work of nonprofits. Moderna is seeking approval for its Covid-19 vaccine after it was shown to be 94.1 percent effective, keeping the shot on track for use in the U.S. by year’s end. National Covid-19 hospitalizations are nearing 100,000 and expected to get worse following holiday travel. And in mortgage and housing news … HOME SALES: Pending home sales dipped slightly in the United States last month, though were significantly higher than in October 2019. HOME PRICES: The pandemic paused the housing market for a few months, but it has been on a rebound that has pushed the median price over $700,000. ADVERSE MARKET FEE: The Federal Housing…
Good morning! Today is Monday, November 30. Top health officials are asking Americans who traveled for Thanksgiving to get tested before returning to work and circulating in their communities. New York City will reopen elementary schools and reduce hybrid learning. Black Friday foot traffic plunged by half amid the pandemic while online sales rose 22 percent from a year ago. Consumers turned to Amazon and big-box chains that offer one-stop shopping. And in mortgage and housing news … NOT BUDGING: Mortgage rates didn’t budge this week from their record low, Freddie Mac reports in its weekly Primary Mortgage Market Survey. MORTGAGE APPS: Mortgage applications increased last week amid record-low interest rates and high demand for a limited number of homes on the market, the Mortgage Bankers…
Good morning! Today is Wednesday, November 25. The International Air Transport Association announced that it’s in the final development phase of a digital passport mobile app that would receive COVID-19 test and vaccination certificates. The CDC is likely to shorten the recommendation to quarantine to reduce the risk of spreading the coronavirus after exposure from the current 14 days to as few as seven with a negative test. And in mortgage and housing news … Q3 HOME PRICES: House prices in the United States surged in the third quarter of 2020, increasing 3.1 percent from the second quarter and 7.8 percent ahead of 2019 levels. CHANGE OF HEART: Wells Fargo reverses, again, on letting homeowners accept U.S. mortgage aid. RISING RISKS: A former subprime player…
Good morning! Today is Tuesday, November 24. President Trump said his administration would cooperate with President-elect Joe Biden’s transition to the White House, but continue to challenge the election. Elon Musk overtakes Bill Gates to claim the world’s second-richest ranking. New York City’s first and only Black mayor David Dinkins died at the age of 93. And in mortgage and housing news … GSE CONSERVATORSHIP: Federal Housing Finance Agency Director Mark Calabria is trying to pull Fannie Mae and Freddie Mac out of conservatorship before the Trump Administration ends on January 20. FORBEARANCE AND DELINQUENCY: The share of mortgages in forbearance in the United States increased ever so slightly in mid-November, while a second report found that mortgage delinquencies overall were down in October. MILLENNIAL CREDIT: About a…
