Category: Top National News

Washington Post, Jan. 31, 2019–Kathy OrtonAfter holding steady for nearly a month while awaiting a resolution to the federal government shutdown, fixed mortgage rates cautiously crept up this week. The Mortgage Bankers Association said mortgage applications continued to pull back.

CityLab, Jan. 31, 2019HUD Secretary Ben Carson will announce a federal monitor to oversee the New York City Housing Authority, but he will stop short of placing the troubled agency under federal receivership, a source familiar with the negotiations said.

The Hill, Jan. 31, 2019–Lisa Sitkin, Odette WilliamsonThe authors say one aspect of the recent government shutdown that has received too little attention is that it significantly increased the risk that thousands of struggling homeowners across the nation would lose their homes.

Financial Times, Jan. 31, 2019–Ed Crooks (subscription)General Electric‘s new boss took a first step towards ending years of upheaval that has drove the conglomerate from the top tier of American companies, announcing strong revenue growth and a $1.5 billion settlement in a longstanding probe into its role in the 2008 financial crisis.

National Mortgage Professional, Jan. 31, 2019–Phil HallToday’s 18-year-old will need to save $304 every month for the next 12 years in order to accumulate the 10 percent downpayment, plus closing costs, needed to buy a median-priced home, according to a new analysis.

HousingWire, Jan. 31, 2019–Jessica GuerinThe Federal Housing Finance Agency has named John Roscoe its new chief of staff. Roscoe currently serves as special assistant to the president in the White House Office of Presidential Personnel.

National Real Estate Investor, Jan. 31, 2019–Liz Wolf Overall retail vacancy is likely to remain flat, but sizeable store closures will likely continue.

Orange County Register, Jan. 31, 2019–Jeff Lazerson (MBA mention)Typically, swing loans are either second liens against your home or new first liens (must refinance any existing first into this loan), due in less than one year. There are no prepayment penalties, and the monthly repayment is interest-only (not principal and interest).

CNBC, Jan. 30, 2019–Diana OlickMortgage application volume decreased 3 percent last week from the previous week, the Mortgage Bankers Association said. The average contract interest rate for 30-year fixed-rate mortgages nudged higher to 4.76 percent from 4.75 percent.

HousingWire, Jan. 30, 2019–Jessica GuerinOn Tuesday the White House issued a statement that appeared to walk back Federal Housing Finance Agency Acting Director Joseph Otting’s comments about taking the GSEs out of conservatorship, dampening hopes for immediate action and causing shares of both GSEs to slip 12 percent.