Associated Press, Nov. 4, 2020The U.S. services sector, where most Americans work, registered its fifth consecutive month of expansion in October, the Institute for Supply Management reported Wednesday. https://finance.yahoo.com/news/us-services-sector-expands-fifth-152133501.html
Category: Top National News
‘Lame Duck’ U.S. Congress to Grapple with Coronavirus Aid, Budget Bills
Reuters, Nov. 4, 2020–Richard Cowan, Susan CornwellThe push in the U.S. Congress for a major new coronavirus aid bill got a post-election boost on Wednesday when Senate Majority Leader Mitch …
Borrowers Continue to Exit COVID-19 Forbearance Plans
MortgageOrb, Nov. 4 2020–Michael BatesThe share of mortgages in COVID-19-related forbearance plans fell to 5.83% as of October 25, down from 5.90% the previous week, according to the Mortgage Bankers …
The Time for Mortgage Companies to Sell is Now, Consultant Says
National Mortgage News, Nov. 4, 2020–Bonnie Sinnock (subscription)Smaller lenders should consider positioning themselves for acquisition at a time when they can be making the most money, says Garth Graham of …
U.S. Treasury Yields Fall on Reduced Stimulus Expectations
Wall Street Journal, Nov. 4, 2020–Sam Goldfarb, Matt Wirz (subscription)U.S. government-bond yields fell sharply Wednesday, reflecting traders’ bets that the results from Tuesday’s election will lead to smaller economic stimulus …
Refinance Activity Is Up 88 Percent YoY
National Mortgage Professional, Nov. 4, 2020–Navi Persaud (MBA mention)The Mortgage Bankers Association’s Weekly Mortgage Application Survey reported a 3.8% increase in mortgage applications on an adjusted basis from the previous …
Jumbo and FHA Mortgage Rates Set Record Lows, Juicing Refinance Demand
CNBC, Nov. 4, 2020–Diana OlickThe rates for jumbo loans, FHA loans and 15-year fixed loans set record lows, while the rate on the most popular loan, the 30-year fixed, saw …
The Politics of Housing: Market Metrics Across the Nation
DS News, Nov. 3, 2020–Christina Hughes BabbExperts in the housing industry have offered varied opinions about the election outcome—which, at the time of publication, is uncertain—and how it might impact …
Think Tank Concludes Mortgage Guidelines Could Safely be Twice as Risky
Mortgage News Daily, Nov. 3 2020–Jann SwansonThe Urban Institute’s housing credit availability index for the second quarter shows a slight dip from an adjusted 5.3 percent in the first quarter …
Election 2020: Who’s at Risk on the House and Senate Committees Overseeing Mortgage Finance?
HousingWire, Nov. 3, 2020–Tim GlazeAll but four members of the current U.S. House of Representatives Committee on Financial Services are on the Nov. 3 general ballot for re-election, including chair …