New York Times, Apr. 9, 2020–Christopher Flavelle, John SchwartzIt’s a simple rule, designed to protect both homeowners and taxpayers: If you want publicly subsidized flood insurance, you can’t build a …
Category: Top National News
Home Values May Fall as Jumbo Loans Vanish
Orange County Register, Apr. 9, 2020–Jeff LazersonAct fast if you are thinking of getting a jumbo loan. Lenders still offering them might get spooked by the next piece of news …
Some Essential Businesses Still Can’t Work Remotely, Despite Law Change to Encourage That
NBC4 (Washington, D.C.), Apr. 9, 2020–Jodie Fleischer, Rick Yarborough, Jeff PiperA spokesman for the Mortgage Bankers Association, the largest national trade group in this industry, said the holdup is that …
Fed Chair Powell Says U.S. Economy Deteriorating ‘with Alarming Speed’
Washington Post, Apr. 9, 2020–Heather LongFederal Reserve Chair Jerome H. Powell said Thursday the U.S. economy is in an emergency and is deteriorating “with alarming speed.” His remarks came shortly …
Fitch: CMBS Delinquencies Will Approach Crisis-Era Peak of 9%
National Mortgage News, Apr. 9, 2020–Glen Fest (subscription)Fitch Ratings is projecting that pandemic-related stresses on vulnerable commercial properties, including retail and hotel, will lead to U.S. CMBS loan delinquency levels …
Mortgage Credit Availability Tumbles to 5-Year Low
HousingWire, Apr. 9, 2020–Phil HallAvailability of mortgage credit in March crashed to the lowest level since June 2015, led by a pull-back in jumbo and non-QM lending, according to the …
Mortgage Rates are Near Record Lows, But Home Buyers May Face an Uphill Battle in Securing Them
MarketWatch, Apr. 9, 2020–Jacob PassyMortgage rates largely remained unchanged over the past week, but their ups and downs since the beginning of the year have created challenges for those looking …
Mortgage Rates Hold Steady after Weeks of Turbulence
Washington Post, Apr. 9, 2020–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average was unchanged at 3.33 percent with an average 0.7 points. (MBA …
A Shockingly High Number of Realtors Say Demand for Housing Has Dropped
Barron’s, Apr. 9, 2020–Shaina MishkinAs the U.S. adjusts to growing unemployment and life under lockdown, 90% of the members of the National Association of Realtors have seen interest in homes …
31% Can’t Pay the Rent: ‘It’s Only Going to Get Worse’
New York Times, Apr. 8, 2020–Conor DoughertyAs the economic shutdown pares tenants’ incomes, April payments have been reduced, deferred or withheld. Some landlords see their property at risk.https://www.nytimes.com/2020/04/08/business/economy/coronavirus-rent.html?campaign_id=2&emc=edit_th_200409&instance_id=17426&nl=todaysheadlines®i_id=42063674&segment_id=24411&user_id=e670283fb4fff3d4391d6f88569ad498