Bloomberg, Aug. 27, 2020–Alexandre TanziAmericans who once drove to work are saving an estimated $758 million a day since the onset of the Covid-19 pandemic, according to a new study …
Category: Top National News
This Federal Bill Could Help Remove One of the Biggest Obstacles to Homeownership
HousingWire, Aug. 27, 2020–Julia FalconThe bipartisan-sponsored bill, called the American Dream Down Payment Act, would allow states to offer first-time homebuyers a savings account, which comes with a tax benefit …
Mortgage Loans Worth $6.8B At Risk Due To Hurricane Laura
National Mortgage Professional, Aug. 27, 2020–Keith GriffinHurricane Laura, a Category 4 storm when it struck Louisiana, is poised to affect over 28,000 pending mortgage transactions in that state, as well …
With Second Stimulus Checks on Hold, Americans Spend Less at the Grocery Store
Wall Street Journal, Aug. 27, 2020–Annie Gasparro, Jawon Kang (subscription)Grocery shoppers are cutting back on spending, data show, a sign that Americans are hurting for cash as the federal unemployment …
Fed Approves Shift on Inflation Goal, Ushering in Longer Era of Low Rates
Wall Street Journal, Aug. 27, 2020–Nick Timiraos (subscription)The Federal Reserve approved a major shift in how it sets interest rates by dropping its longstanding practice of pre-emptively lifting them to …
Mortgage Rates Drop Once Again, Remaining Below 3 Percent
Washington Post, Aug. 27, 2020–Kathy OrtonMortgage rates reversed course, falling for the first time in two weeks as the federal government delayed implementation of the adverse market refinance fee. (MBA …
Election 2020 Donations Reveal Divisions Within the Mortgage Industry
National Mortgage News, Aug. 27, 2020–Bonnie Sinnock, Paul Centopani (subscription)Conventional wisdom suggests that in business, it’s often smartest not to take sides in politics. Figures in the mortgage industry have …
Late Rent and Mortgage Payments Rise
New York Times, Aug. 27, 2020–Michael KolomatskyNearly six months into the pandemic, the share of American homeowners and renters who have missed or been late with their monthly housing payments …
Mortgage Demand From Homebuyers Spikes 33% Annually, Signaling No End to Summer Spree
CNBC, Aug. 26, 2020–Diana OlickMortgage applications to purchase a home rose just 0.4% last week from the previous week but were a remarkable 33% higher than a year ago, according …
The Current and Future State of the U.S. Mortgage Industry
BBVA podcast, Aug. 27, 2020–Alejandro Ortiz, Murat KalkanThe mortgage scene can be a complex one. During normal times, consumers find themselves with a lot of questions that need to be …