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 …
Category: Top National News
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 …
Millennials Help Power This Year’s Housing-Market Rebound
Wall Street Journal, Aug. 27, 2020–Nicole Friedman (subscritption)Millennials, long viewed as perennial home renters who were reluctant or unable to buy, are now emerging as a driving force in the …
California Has a Housing Crisis. A Bill Would Allow a Duplex on Most Single-Family Parcels
Los Angeles Times, Aug. 26, 2020–Andrew KhouriThe California Assembly is considering a bill that would require local governments to permit duplexes on parcels now largely restricted to one house, in …
States Entice Fintechs by Giving Them Freedom to Experiment
American Banker, Aug. 26, 2020–Miriam Cross (subscription)Florida and West Virginia recently joined four other states in setting up regulatory sandboxes that allow startups to test products with consumers without obtaining …