The Hill, Feb. 12, 2020–Niv ElisThe federal deficit through January climbed to $389 billion, a 25 percent spike over the same period last year, according to Treasury Department data released …
Category: Top National News
Commercial and Multifamily Mortgage Maturities to Increase in 2020
Mortgage Professional America, Feb. 12, 2020–Candyd MendozaSeven percent of outstanding commercial and multifamily mortgages will mature in 2020, according to the Mortgage Bankers Association.https://www.mpamag.com/news/commercial-and-multifamily-mortgage-maturities-to-increase-in-2020-213388.aspx
Mini-Mortgage Refinance Boom Continues as Coronavirus Keeps Rates Low
CBNC, Feb. 12, 2020–Diana OlickMortgage lenders were busy last week, but mostly with current homeowners looking to take advantage of low mortgage rates. Total mortgage application volume increased 1.1% compared …
Mortgage Rates are at their Lowest Level in Three Years
CBS News, Feb. 11, 2020–Khristopher J. BrooksHomebuyers are taking advantage of lower rates. The number of mortgage applications rose 5% between the lend of January and the first week of …
Former Chase Home Lending CEO Mike Weinbach Moving to Wells Fargo
HousingWire, Feb. 11, 2020–Ben LaneWhen Chase Home Lending CEO Mike Weinbach stepped down earlier this month, the scuttlebutt was that he was leaving for an unnamed “external opportunity.” Weinbach’s next …
Secret Plan to Buy Freddie Mac is the Focus of Lobbyist Lawsuits
Bloomberg, Feb. 11, 2020–Joe Light, Elizabeth DexheimerThe unsuccessful scheme has become the focus of a legal battle involving two former Federal Home Loan Bank of San Francisco employees against that …
Survey: Millennials and Gen Z Still Need Parental Aid for Homebuying
National Mortgage Professional, Feb. 11, 2020–Phil HallMillennials and Gen Zers exploring the possibility of homeownership are still getting assistance from the Bank of Mom and Dad to help finance their …
Fed Watching Risks of Broader Coronavirus Disruptions
Wall Street Journal, Feb. 11, 2020–Nick Timiraos (subscription)Federal Reserve Chairman Jerome Powell said the central bank is “closely monitoring” the extent of global economic disruptions from the coronavirus in China, …
Mortgage Investors Brace for Coming Wave of Loan Refinancings
Bloomberg, Feb. 11, 2020–Christopher MaloneyWith the 30-year mortgage rate just 14 basis points above its all-time low of 3.31% seen in November 2012, mortgage-backed security investors are bracing themselves for …
U.S. Household Size, at a Record Low, May Finally Be Bottoming Out
Bloomberg, Feb. 10, 2020–Justin FoxThese trends may indicate that Americans have had enough of living alone. But they may also reflect high real estate prices in parts of the country …