MoneyWise, Sept. 3, 2020–Doug WhitemanThe Federal Reserve says the economy is still looking sickly; it called the recovery “generally modest.” But the bright side for homebuyers and homeowners is that …
Category: Top National News
Mortgage Rates Hold Steady Heading into Holiday Weekend
Washington Post, Sept. 3, 2020–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average ticked up to 2.93 percent with an average 0.8 point. It …
The Overlooked Reason It’s So Hard to Buy a Home in 2020
Money, Sept. 3, 2020–Aly J. YaleThe recent inventory decline is steep by any standard, but when you throw in the supply shortages already plaguing housing markets pre-pandemic, the situation looks …
Trump Eviction Ban Tests Limits of CDC Authority
The Hill, Sept. 3, 2020–Sylvan LaneBut the eviction ban is a groundbreaking test of the CDC’s power that experts say will undoubtedly prompt several legal challenges. And advocates for both …
PIMCO Warns Releasing Fannie, Freddie Could Imperil Housing Finance
HousingWire, Sept. 2, 2020–Kathleen HowleyBond giant PIMCO, one of the biggest buyers of Fannie Mae and Freddie Mac mortgage-backed securities, warned on Monday that ending the federal conservatorship of the …
Mr. Cooper to Add 2,000 New Jobs Through Year-End
MarketWatch, Sept. 2, 2020–Tomi KilgoreMortgage servicing and origination company Mr. Cooper Group said Wednesday it will hire 2,000 new employees through the end of the year as loan activity has …
Fed’s Mortgage-Buying Spree at $1 Trillion With No End In Sight
Bloomberg, Sept. 2, 2020–Christopher MaloneyThe Federal Reserve has snapped up $1 trillion of mortgage bonds since March, a record pace of purchasing, as the U.S. central bank tries to blunt …
Will Silicon Valley Put Real Estate Brokers Out of Business?
Fast Company magazine, Sept. 2, 2020–Jason WeissmanSilicon Valley is catching up to the real estate industry. Over the past decade, more than $30 billion has poured into PropTech, a new …
New York Homebuyers Are Searching Everywhere But Manhattan
Bloomberg, Sept. 2, 2020–Oshrat CarmielNew York area homebuyers are still hesitating on Manhattan while piling into the suburbs and Brooklyn.Contracts to buy Manhattan co-op apartments declined 26% in August from …
Dems Demand Investigation into Ben Carson’s Conduct
Mortgage Professional America, Sept. 2, 2020–Ryan SmithIn a Monday letter to the Office of Special Counsel (OSC), Brown and Warren – along with senators Jon Tester (D-Mont.), Robert Menendez (D-N.J.), …