Good morning! Today is Tuesday, November 10. Senate Majority Leader Mitch McConnell said President Trump is “100% within his rights” to continue his legal challenge of the presidential election results. The U.S. topped 10 million coronavirus cases, the fifth consecutive day with a six-figure increase in infections. Encouraging Covid-19 vaccine news gave the stock market a boost. And in mortgage and housing news … HOUSING MARKET: The calendar has turned to fall, but the housing market still seems to think it’s summer. The U.S. housing market chugged along at near record levels in October – with houses selling faster in October than September for the first time since 2011, according to a new report released by realtor.com. MORTGAGE SATISFACTION: Customers are happier with their…
Good morning! Today is Monday, November 8. Joe Biden is gearing up to take office. President Trump is pursuing legal action to challenge the election results. And a Trump administration appointee is refusing to approve transition resources for Biden’s transition team to formally begin its work this week. A record-breaking wave of coronavirus cases continues across the United States. After winning in Phoenix, 24-year-old Chase Elliott is the 2020 NASCAR champion. And in mortgage and housing news … MBA ON BIDEN: The Mortgage Bankers Association congratulated former Vice President Joe Biden for his victory in the presidential election, vowing to work with his administration on affordable housing and to assist homeowners impacted by the pandemic. AFFORDABILITY: Housing affordability continued to decline in the third quarter, as inventory shortages…
Good morning! Today is Friday, November 6. The counting continues with the presidential election results coming down to four states. A federal judge ordered the U.S. Postal Service to conduct rigorous sweeps of facilities serving states with looming election deadlines like Pennsylvania and North Carolina, so any ballots still in the system reach election officials in time. The NBA season will start Dec. 22, in time for the league’s marquee Christmas slate of games. And in mortgage and housing news … RATES FALL AGAIN: Amid political uncertainty, mortgage rates have dropped to a record low for the 12th time in 2020. REDFIN RESULTS: Redfin announced financial results for the third quarter, with revenues down slightly but profit up significantly from last year. NEW FANNIE CHAIR: Fannie…
Good morning! Today is Thursday, November 5. Vote counting continues today to determine the next President of the United States. With Michigan and Wisconsin added to Joe Biden’s lead, President Trump must sweep Pennsylvania, Georgia, North Carolina and Nevada to win. Drugmaker AstraZeneca expects Covid-19 vaccine trial results later this year. And in mortgage and housing news … DISASTER FLIGHT: Led by homeowners and renters in the Northeast, more than a quarter of Americans say they want to or have already moved due to the recent spate of fires, floods and hurricanes. MORTGAGE APPS: Mortgage applications edged up 3.8 percent for the week, as refinances and home purchases remain significantly higher than a year ago, according to a new report released by the Mortgage Bankers Association. AFFORDABLE…
Good morning! Today is Wednesday, November 4. President Trump and Joe Biden addressed supporters after the polls closed, but results may be days away in critical battleground states. Yosemite National Park welcomes visitors without reservations for the first time since March. Walmart laid off a fleet of shelf-scanning robots in favor of humans. And in mortgage and housing news … FORBEARANCE NUMBERS: The number of mortgages in coronavirus-related forbearance continues to decline. ELECTION IMPACT: How the housing market might respond to the election outcome. CREDIT HISTORY: Congress may take action to ensure fintech lenders do not penalize consumers for recent damages to their data profiles, especially since consumer data collection has proliferated during the pandemic, often unevenly across the lines of race, age, and income level. SWING STATE FORBEARANCE: Swing…
Good morning! Today is Tuesday, November 3. It’s Election Day! Nearly 100 million ballots have already been cast and election officials in many states are preparing for a drawn-out vote-counting process. The CDC says those who have tested positive or may have been exposed to the coronavirus should wear a mask, stay at least six feet away from others and sanitize their hands before and after voting. And in mortgage and housing news … COMMERCIAL DELINQUENCIES: Delinquency rates for commercial and multifamily property mortgages declined in October as the Covid-19 pandemic stretched into the fall. RENTERS PAY: Renters tend to be prioritizing making monthly payments to their landlords amid the Covid-19 pandemic, according to a new analysis conducted by Freddie Mac. PROPPED UP?: The largest U.S.…
Good morning! Today is Monday, November 2. On election eve, candidates and their surrogates are making closing arguments and businesses in Washington, DC, are boarding up to prepare for civil unrest. Airlines are resorting to buy-one-get-one-free ticket offers to help travelers feel comfortable flying again and keep at least some cash coming in. In filming Avatar 2, Kate Winslet held her breath underwater for seven minutes, breaking Tom Cruise’s underwater record. And in mortgage and housing news … EASY MONEY: Government efforts to stimulate growth are lifting markets of all kinds everywhere, especially housing. MORTGAGE DELINQUENCIES: The number of mortgages that are seriously delinquent dropped by 43,000 in September, according to Black Knight. That’s the first improvement in that data point since the pandemic began back…
Good morning! Today is Friday, October 30. Tech giants including Amazon and Google reported strong quarterly sales and profits that demonstrate pandemic-era demand for their digital services and gadgets. Walmart pulls guns and ammo displays from stores, citing fears of civil unrest and looting. Scientists discover coral reef taller than the Empire State Building in Australia’s Great Barrier Reef. And in mortgage and housing news … MORTGAGE RATES: Mortgage rates increased this week ever so slightly as they continue to hover at historic lows during the Covid-19 pandemic, Freddie Mac announced in its weekly Primary Mortgage Market Survey. RETURN TO OFFICE: CommercialCafe, a listing site for commercial real estate, says it registered a record number of website visits—even surpassing pre-pandemic records—as online interest in…
Good morning! Today is Thursday, October 29. More than 40 states are reporting an increase in Covid-19 cases and many in the Midwest are seeing record hospitalizations. In a decision this week, the Supreme Court allowed 9-day extensions for absentee ballots in Pennsylvania and North Carolina. Thousands are without power after Hurricane Zeta made landfall in Louisiana last night as a strong Category 2 storm. And in mortgage and housing news … NEW HOME SALES: Sales of newly built single-family homes fell slightly in September – but remained significantly higher than a year ago, according to a report released by the National Association of Home Builders. MORTGAGE APPS: Mortgage applications increased slightly in the latest weekly report released by the Mortgage Bankers Association. CREDIT SCORE…
Good morning! Today is Wednesday, October 28. Early voting has surpassed half of all ballots cast in the 2016 presidential election with less than a week left until Election Day. CEOs from the largest social media companies will answer Senate Commerce Committee questions today about the platforms’ role in shaping political discourse. New York City is telling residents not to travel for Thanksgiving to help stop the spread of Covid-19. And in mortgage and housing news … HOME PRICES: The Federal Housing Finance Agency reports that home prices increased 1.5 percent in August from the previous month – and a whopping 8 percent from August 2019 amid historically low interest rates and a shortage of homes on the market during the Covid-19 pandemic.…
