National Mortgage News, July 16, 2020–Hannah Lang (subscription)At a subcommittee hearing of the House Financial Services Committee, Democrats tried to get to the bottom of why some borrowers reported not …
Category: Top National News
Low Mortgage Rates Could Hurt First-Time Home Buyers for Years To Come
SFGate, July 16, 2020–Clare Trapasso“Prior to the pandemic, we did see homeowners’ mobility trending lower over the last few years. We’d also seen an increase in home improvement spending,” says …
720 Mortgage Companies Took PPP Money, Claiming Jobs Saved
Orange County Register, July 16, 2020–Jeff LazersonWith rates at 49-year lows and demand high for home loans, lenders need to retain workers. But some say the mortgage industry “took great …
Eviction Looms for Millions of Americans Who Can’t Afford Rent
Wall Street Journal, July 16, 2020–Paul Kiernan (subscription)Millions of Americans who have missed rent payments due to the coronavirus pandemic could be at risk of being evicted in the coming …
U.S. Retail Sales Snap Back…
Reuters, July 16, 2020–Lucia MutikaniU.S. retail sales rose more than expected in June as consumers bought big-ticket items like motor vehicles and dined out, but a resurgence in new COVID-19 …
June’s New Construction Activity Sees Greatest Year-Over-Year Decline Since 2015
HousingWire, July 16, 2020–Alex RohaSingle-family housing authorizations in June sunk 10.02% year-over-year – the steepest year-over-year decline in the past five years, according to a report by Buildfax, a property …
CFPB Launches Investigation of Quicken Loans Real Estate Affiliate
National Mortgage News, July 16, 2020–Kate Berry (subscription)Quicken Loans, the nation’s largest mortgage lender, said the Consumer Financial Protection Bureau is investigating its real estate affiliate for potential violations of …
MBA: Pandemic to Cause Pullback in Commercial/Multifamily Lending in 2020
Talk Business & Politics, July 16, 2020Commercial and multifamily mortgage bankers in the U.S. are expected to close $248 billion of loans backed by income-producing properties in 2020, a 59% …
30-Year Fixed Mortgage Rate Falls Below 3 Percent to Lowest Level in History
Washington Post, July 16, 2020–Kathy OrtonThe bottom has yet to be reached as mortgage rates achieved a new low for the fourth time in the past five weeks. (MBA mention)https://www.washingtonpost.com/business/2020/07/16/30-year-fixed-mortgage-rate-falls-below-3-percent/
9 Charts that Show the Good, the Bad and the Alarming of this Early Economic Recovery
Washington Post, July 16, 2020–Heather LongA 30-year mortgage now comes with a 3.03 percent interest rate, the lowest in history, making home-buying more affordable for those who have strong credit …