CNBC, Mar. 12, 2020–Diana OlickStocks of the nation’s homebuilders are tanking, on pace for their worst day since Dec. 1, 2008, when the subprime mortgage crisis brought the whole housing …
Category: Top National News
Real Estate Was Booming in Milan and Seoul. Then Came Coronavirus
The Real Deal, Mar. 12, 2020–Kevin SunMilan and Seoul both saw record amounts of real estate investment in 2019. But with the emergence of coronavirus, their residential markets are taking …
WHO Declares Coronavirus a Pandemic
The Hill, Mar. 11, 2020–Peter SullivanThe World Health Organization is officially calling the coronavirus a pandemic.https://thehill.com/policy/healthcare/487028-who-officially-calls-coronavirus-a-pandemic
Survey Reveals Inter-Generational Similarities in Homeownership Preferences
Mortgage Professional America, Mar. 11, 2020–Duffie OsentalMuch has been said about the differences between baby boomers, Gen-Xers, and millennials – but a new survey found that the three generations have …
Mortgage Applications Skyrocket to Highest Level Since 2009 as Rates Tumble
HousingWire, Mar. 11, 2020–Julia FalconMortgage applications soared 55% this week from one week prior, and demand for refinances rose to an almost 11-year high, according to the Mortgage Bankers Association.https://www.housingwire.com/articles/mortgage-applications-skyrocket-to-highest-level-since-2009-as-rates-tumble/
U.S. Budget Deficit Grew 15% in First Five Months of Fiscal Year, Treasury Says
Wall Street Journal, Mar. 11, 2020–David Harrison (subscription)The U.S. budget deficit totaled $625 billion in the first five months of this fiscal year, a 15% increase over the same period …
Fed Boosts Money It’s Providing to Banks in Overnight Repo Lending to $175 Billion
CNBC, Mar. 11, 2020–Jeff CoxThe Federal Reserve is again increasing the amount of money it’s providing to banks for overnight borrowing, raising the top level now to $175 billion.https://www.cnbc.com/2020/03/11/fed-boosts-money-its-providing-to-banks-in-overnight-repo-lending-to-175-billion.html
The Banks are Back in Residential Mortgages
National Mortgage News, Mar. 11, 2020–Christopher WhalenWith the return of volume and profitability to mortgage lending, it is no surprise that commercial banks are coming back to the market.https://www.nationalmortgagenews.com/opinion/the-banks-are-back-in-residential-mortgages
Plunging Mortgage Rates Might Not End U.S. Housing Doldrums
Wall Street Journal, Mar. 11, 2020–Gwynn Guilford (subscription)With the average rate on a 30-year mortgage falling to 3.29% last week, financing a home purchase has never been cheaper. That could …
Wall Street’s Bond Rally Isn’t Lowering Mortgage Rates on Main Street
Barrons, Mar. 10, 2020–Randall Forsyth The epic bond rally on Wall Street isn’t trickling down to Main Street in the form of significantly lower mortgage interest rates. That supposed benefit …