Good morning! Today is Wednesday, July 15. The first COVID-19 vaccine tested in the U.S. shows promising immune response ahead of a large trial. The White House is urging the National Guard to play a role in coronavirus data gathering, taking the CDC out of loop. International college students will not be required to attend in-person classes to remain in the country. And in mortgage and housing news … MORTGAGE APPS: Mortgage applications jumped 54.1 percent in June over a year ago, according to a report released by the Mortgage Bankers Association. CASA FALLOUT: The attorney for a woman suing AIME boss Anthony Casa for lewd and misogynistic statements spoke to the Detroit Free Press, calling Casa’s apology “insulting.” HOMEBUILDING SURGE: Sales of newly built…
Good morning! Today is Tuesday, July 14. Los Angeles and San Diego schools will remain online only in the fall. Harvard and MIT have a high-stakes court hearing today over whether the federal government can force overseas students to move to a school with in-person teaching, or leave the country. The NFL is testing mouth shields to prevent the spread of COVID-19 during games. And in mortgage and housing news … AIME FALLOUT: A day after news broke that Association of Independent Mortgage Experts Founder and CEO Anthony Casa sent degrading video messages about the wife of a Quicken Loans executive, member companies reacted in very different ways. FORBEARANCES DROP: The share of mortgage loans in forbearance in the United States dropped for…
Good morning! Today is Monday, July 13. Florida breaks another record for the most new coronaviruses cases reported in one day. Disney World opens in Orlando with reduced capacity and precautions. The Washington Redskins football team will retire team name today. And in mortgage and housing news … LEWD MESSAGES: The head of the Association of Independent Mortgage Experts sent a mortgage company executive expletive-filled video messages falsely alleging the man’s wife performed sexual acts on a rival industry executive. SIZE MATTERS: What’s more important when applying for a mortgage: excellent credit or 20 percent down payment? REFINANCING: Why home equity matters when you try to refinance your mortgage. FED & TREASURY: Disagreements between leaders at the Federal Reserve and Treasury have slowed the start of their…
Good morning! Today is Friday, July 10. New coronavirus cases in the U.S. hit another daily record, including more than 1,000 TSA agents. The pandemic is speeding meatpackers’ shift from human meat cutters to automated ones. New York City cancelled all large events until October. And in mortgage and housing news … DEMOCRATIC HOUSING PLAN: Opposing wings of the Democratic Party released sweeping housing policy recommendations, including proposals to reverse policies and practices that “have made homeownership all but impossible for millions of working families.” FEELING BETTER: The Fannie Mae Home Purchase Sentiment Index increased 9 points in June to 76.5, driven by more optimistic views of homebuying and selling conditions, as well as positive views about the potential for home price appreciation.…
Good morning! Today is Thursday, July 9. New Jersey Gov. Phil Murphy is requiring masks be worn outside. At least 24 states are pausing re-openings as COVID-19 cases pass the three million mark. The Labor Department will release its weekly report on unemployment benefits today. And in mortgage and housing news … PRICY HOMES: After cratering in April and May, new listings for high-end homes are making a comeback on the market this summer, according to Zillow. MORTGAGE APPLICATIONS: As interest rates sit at record lows, mortgage applications increased slightly last week, according to a report released by the Mortgage Bankers Association. MAIN STREET LENDING: More than three months after the Fed announced a new effort to shore up the economy aimed at…
Good morning! Today is Wednesday, July 8. Supreme Court Justice John Roberts was hospitalized after a head injury suffered in a fall. Republican leaders are concerned about a GOP convention in Florida, where coronavirus cases are spiking. Movie theaters are suing the state of New Jersey for the right to re-open. And in mortgage and housing news … IBUYER RESUMES: Zillow’s iBuyer program resumed buying homes in five more markets, bringing the total to 20 of the 24 markets it was operating in prior to the coronavirus pandemic shutting everything down. FORBEARANCE NUMBERS: A new Mortgage Bankers Association report shows that 4.2 million Americans have mortgages in forbearance. QUICKEN IPO: Detroit-based Quicken Loans filed IPO paperwork to take the company public. It will be called…
Good morning! Today is Tuesday, July 7. The Treasury Department released the list of companies that received most money from small business bailout loans. Florida orders schools to reopen in August. Harvard and Princeton will reopen with many undergrads barred from campus housing. And in mortgage and housing news … LOANS DENIED: Black and Hispanic borrowers were denied approval for mortgages at a considerably higher rate than non-Hispanic White and Asian borrowers in 2019, according to a report released by the Consumer Financial Protection Bureau. PANDEMIC PACKING: A survey conducted by Morning Consult found that more than one in four workers say they would consider moving to a new state if their employer allows them to work remotely going forward. SUMMER EVICTIONS: Eviction moratoriums and…
Good morning! Today is Monday, July 6. Soaring coronavirus cases and hospitalizations put a damper on July 4th celebrations. NASA’s “smell of space” could soon be available in a perfume. Sony is using multiple robots to make a new PS4 every 30 seconds. And in mortgage and housing news … DISPARATE RECOVERY: A Redfin report highlights the “wealth divide” in the United States, looking at unemployment rates, demographic housing sales data, and racial breakdowns among industries hit hard by the economic shutdown versus those that appear to have weathered the storm. ANOTHER RECORD: Mortgage rates just hit another record low. Freddie Mac announced that the 30-year fixed-rate mortgage averaged 3.07 percent for the week ending Thursday, the lowest rate in the surveys history dating back…
Good morning! Today is Thursday, July 2. The U.S. reported a record 50,000 new cases of coronavirus yesterday. North Carolina, Tennessee and Texas also hit daily records. CEOs from Apple, Facebook, Amazon and Google will testify before a house panel investigating antitrust issues in big tech. Three million Americans returned to work last month amid the reopening of businesses shuttered by coronavirus. And in mortgage and housing news … TRUMP TARGETS FAIR HOUSING RULE: President Trump announced that he is considering doing away with a federal rule designed to overcome historic patterns of segregation and says Democratic candidate Joe Biden would devastate suburbs. MORTGAGE APPS FALL: Mortgage applications for home purchases and refinances dipped slightly last week, according to a report released by the Mortgage Bankers…
Good morning! Today is Wednesday, July 1. The government’s top infectious disease expert told a Senate panel that bars needed to be closed to prevent COVID-19 spread, and the Fed chairman cautioned that “a full recovery is unlikely” until safety is restored. The American Academy of Pediatrics is pushing for students to be physically present in classrooms rather than continue in remote learning for the sake of their well-being. And in mortgage and housing news … MORTGAGE DEBT: Total commercial and multifamily mortgage debt increased by $61 billion to $3.72 trillion in the first quarter of the year, according to a new report released by the Mortgage Bankers Association. FORBEARANCE REPORT: The number of mortgage loans in forbearance decreased slightly in the latest Mortgage Bankers Association…
