Wall Street Journal, May 12, 2020–Paul Kiernan (subscription)The budget deficit soared to a record $1.935 trillion in the 12 months through April as the U.S. ramped up spending and cut …
Category: Top National News
Mortgage Delinquency Rate Jumps with Forbearance Tallied as Overdue
HousingWire, May 12, 2020–Kathleen HowleyThe U.S. mortgage delinquency rate jumped during the first quarter in a report from the Mortgage Bankers Association that counts forbearances as late payments. The share …
Some Homeowners are Getting Mortgage Bailouts by Mistake, and It’s Keeping them from Refinancing
CNBC, May 12, 2020–Diana OlickMore than 4 million homeowners are now delaying their monthly mortgage payments as part of both government and private lender relief programs – but some have …
House Democrats Unveil $3 Trillion Coronavirus Relief Package
The Hill, May 12, 2020–Cristina MarcosThe House is expected to pass the $3 trillion bill on Friday along party lines as Democrats seek to put pressure on Republicans to start …
Coronavirus Update: High-Priced Real Estate Listings Returning To San Francisco Bay Area Market
KPIX, May 12, 2020A thaw is beginning to take place in the deep chill cast over the San Francisco Bay Area real estate market by the coronavirus outbreak, reported Zillow.com.https://sanfrancisco.cbslocal.com/2020/05/12/coronavirus-update-high-priced-real-estate-listings-returning-to-san-francisco-bay-area-market/
Why the Most Affordable Homes Increased the Most in Price Between 2000 and 2019
Urban Institute, May 12, 2020–Jung Hyun Choi, John Walsh, Laurie GoodmanThe report said nationally, from January 2000 to December 2019, prices for the lower-priced homes increased 126.2 percent, compared to …
Mortgage Catch-22: Interest Rates are Lower than Ever, But Millions of Borrowers Can’t Get a Loan
HousingWire, May 11, 2020–Ben LaneAs rates fell, making getting a mortgage a more enticing option for people, it also became much harder for certain people to get a loan. As …
Lenders Worry They Could be Stuck with Billions in PPP Loans
American Banker, May 11, 2020–Jim Dobbs (subscription)Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed …
Stewart’s Layoffs, Other Cost-Cutting Measures Expected to Save $60M
National Mortgage News, May 11, 2020–Brad Finkelstein (subscription)Stewart Information Services, the smallest of the four national title insurance underwriters, initiated some cost-cutting measures that will save it $60 million on …
Economists Now Expect Recovery Will Be More of a ‘Swoosh’ Than V-Shaped
Wall Street Journal, May 11, 2020–Paul Hannon, Saabira Chaudhuri (subscription)Until recently, many policy makers and corporate executives were hoping for a V-shaped economic recovery from the coronavirus pandemic: a short, …