MarketWatch, Mar. 4, 2020–Jacob PassyThe Federal Reserve just cut its benchmark interest rate — but don’t expect lower mortgage rates as a result.https://www.marketwatch.com/story/heres-what-the-feds-surprise-interest-rate-cut-means-for-mortgage-rates-2020-03-03
Category: Top National News
Survey: Coronavirus Outbreak Has the Potential to Threaten U.S. Economic Growth
Bankrate.com, Mar. 4, 2020–Sarah FosterNearly 7 in 10 (69 percent) experts surveyed in Bankrate’s First-Quarter Economic Indicator poll said they expect a sizable economic impact from the coronavirus, which has …
Weekly Mortgage Refinances Spike 26% as Interest Rates Tank on Coronavirus
CNBC, Mar. 4, 2020–Diana OlickRefinance volume spiked, sending total mortgage application volume up 15.1% for the week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. …
JPMorgan Tests Virus Plan with Thousands Working from Home
Bloomberg, Mar. 3, 2020JPMorgan Chase is asking thousands of U.S. employees to work from home as it tests a contingency plan for closing domestic offices should the coronavirus spread.https://www.americanbanker.com/articles/jpmorgan-tests-virus-plan-with-thousands-working-from-home
Black Knight Acquires Collateral Analytics
HousingWire, Mar. 3, 2020–Ben LaneBlack Knight, which is already one of the biggest technology companies in both mortgage and real estate, is about to get even bigger as the company …
First American Buys Docutech for $350 Million
HousingWire, Mar. 3, 2020–Ben LaneFirst American announced Tuesday that it has acquired Docutech, a document, eSign, eClosing and compliance technology provider. The company’s digital document technology is used by Black …
Coronavirus Effect on Commercial Mortgage Lates to be Determined
National Mortgage News, Mar. 3, 2020–Brad Finkelstein (subscription)Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won’t be known for some time, the Mortgage Bankers Association said.https://www.nationalmortgagenews.com/news/coronavirus-effect-on-commercial-mortgage-lates-to-be-determined
Mortgage Rates Could Lower Even More After Fed Cuts Rates
WPLG Miami, Mar. 3, 2020–Andrea TorresThe Federal Reserve’s emergency interest-rate cut and the subsequent 10-year Treasury yield fall below 1% on Tuesday will likely prompt mortgage rates to decrease, experts …
Fed Virus-Driven Cut May Test New Approach to Inflation
Reuters, Mar. 3, 2020–Howard Schneider, Jonnelle MarteFed officials may keep that lower rate in place even if the risks to the economy from the virus pass in order to test …
Rental Prices in Top Housing Markets Fall in March
HousingWire, Mar. 3, 2020–Alcynna LloydRental prices for one-bedroom and two-bedroom units fell in March, sliding by 0.4% and 0.3%, respectively, according to Zumper.https://www.housingwire.com/articles/rental-prices-in-top-housing-markets-fall-in-march/