National Mortgage Professional, Mar. 16, 2020California Attorney General Xavier Becerra and New York Attorney General Letitia James led a coalition of 22 attorneys general in filing a comment letter slamming …
Category: Top National News
U.S. Economy Slides Into the Monetary Black Hole
Wall Street Journal, Mar. 16, 2020–Greg Ip (subscription)The Federal Reserve is now officially spent. Saving the U.S. economy from this point forward is now up to someone else.https://www.wsj.com/articles/u-s-economy-slides-into-the-monetary-black-hole-11584364910?mod=hp_major_pos1#cxrecs_s
Social Distancing Likely to Affect Physical Mortgage Closings
National Mortgage News, Mar. 16, 2020–Brad Finkelstein (subscription)Even as mortgage application volumes climb, the physical ability for those loans to close could be in question as authorities call for social …
The Fed Cut Interest Rates to Zero, But Don’t Expect to See 0% Mortgages Anytime Soon
MarketWatch, Mar. 16, 2020–Jacob PassyMortgage rates in the U.S. could hit new record lows as the coronavirus outbreak continues, but there are multiple factors preventing them from falling to zero.https://www.marketwatch.com/story/the-fed-cut-interest-rates-to-zero-but-dont-expect-to-see-0-mortgages-anytime-soon-2020-03-16
Lenders Are Deluged With Refinance Requests as Coronavirus Sends Rates Lower
Wall Street Journal, Mar. 16, 2020– Orla McCaffrey, Julia Carpenter, Ben EisenRecord low mortgage rates are delivering more refinancing demand than some lenders can handle. Homeowners are rushing to refinance …
Will The Fed’s Sudden Cut Usher In Even Lower Mortgage Rates?
Forbes, Mar. 16, 2020–Aly YaleAnalysts called the Federal Reserve’s late-Sunday rate cut a “startling” and “aggressive” move and said it could cause mortgage rates to drop in the coming days.https://www.forbes.com/sites/alyyale/2020/03/16/will-the-feds-sudden-move-usher-in-even-lower-mortgage-rates/#5769f2ad6a92
CRE Brokers Limit Face-to-Face Meetings and Conference Attendance
National Real Estate Investor, Mar. 16, 2020–Sebastion ObandoThe rapid spread of COVID-19 is causing deals to break down and firms to cancel attending upcoming conferences. But lower interest rates are …
Calls Mount for U.S. to Halt Foreclosures, Evictions Amid Health Crisis
National Mortgage News, Mar. 15, 2020–Hannah Lang (subscription)As the novel coronavirus hammers the global economy, lawmakers and housing advocates are calling for a national moratorium on evictions and foreclosures while …
CDC Recommends Suspending Mass Gatherings for 8 Weeks
Politico, Mar. 16, 2020–Various StaffThe Centers for Disease Control on Sunday recommended that Americans cancel or postpone gatherings of 50 or more people for the next eight weeks — the …
Italy is Canceling Mortgage Bills. Can the U.S. do that?
HousingWire, Mar. 13, 2020–Kathleen HowleyIs a “mortgage holiday” coming to America? The short answer is: probably not. https://www.housingwire.com/articles/italy-is-cancelling-mortgage-bills-can-the-us-do-that/