Wall Street Journal, Mar. 13, 2020–Harriet Torry, Anthony DeBarros (subscription)Economists sharply cut forecasts for the U.S. economy this year, predicting it will contract in the second quarter and raising expectations …
Category: Top National News
Mortgage Rates Rise Sharply from Last Week’s Record Low
Orange County Register, Mar. 12, 2020–Jeff LazersonChances are great that the coronavirus will have long-term repercussions on the global economy. It’s an easy bet to see a big, bad recession …
30-Year Mortgage Rate Rises Amid Economic Upheaval as Coronavirus Spreads
Washington Post, Mar. 12, 2020–Michele LernerMortgage rates for the popular 30-year loan rose, according to data released by Freddie Mac on Thursday, reflecting lenders’ move to tamp down an avalanche …
Fed Unveils Dramatic Measures to Ease Market Strain from Virus
Bloomberg, Mar. 12, 2020The central bank has been under increasing pressure to act as investors have been losing faith in the Trump administration’s efforts to contain the economic fallout.https://www.americanbanker.com/articles/fed-unveils-dramatic-measures-to-ease-market-strain-from-virus
Housing Growth Expected to Continue Despite COVID-19 Fears–Study
Mortgage Professional America, Mar. 12, 2020–Duffie OsentalA study from financial services firm Nationwide revealed that most housing markets in the US showed a positive reading with limited pockets of negative …
Mortgage Lenders were Braced for High Demand Even Before Recent Spike
National Mortgage News, Mar. 12, 2020–Brad Finkelstein (subscription)Companies in the mortgage business were already focused on processing a lot of loans and generating efficiencies before the latest uptick in business …
These Startups are Helping Home Buyers Bypass the Bank
Wall Street Journal, Mar. 12, 2020–Katy McLaughlin (subscription)A host of alternative home-finance startups are targeting aspiring home buyers who are either unable to qualify for traditional mortgages, lack a 20% …
Coronavirus Looms Over Crucial Spring Season for Housing Market
Wall Street Journal, Mar. 12, 2020–Nicole Friedman (subscription)The lowest mortgage rates on record are colliding with the prospect of an economic downturn prompted by the coronavirus outbreak, setting the stage …
Mortgage Demand is So High That Lenders Turn Away Some Borrowers
Bloomberg, Mar. 12, 2020–Shahien Nasiripour, Michelle F. DavisHomeowners looking to refinance their mortgages better have their paperwork in order. And it helps to be nice.https://www.bloomberg.com/news/articles/2020-03-12/mortgage-demand-is-so-high-that-lenders-turn-away-some-borrowers
51% of Lenders Expect Profits to Increase
MReport, Mar. 12, 2020–Mike AlbaneseFannie Mae’s Q1 2020 Mortgage Lender Sentiment Survey found that 51% of lenders believe profit margins will increase compared to the prior quarter, while 44% said …