Wall Street Journal, June 16, 2021–Nicole Friedman (subscription)Construction of new homes in the last two decades lagged behind historical levels, contributing to a recent surge in home prices.https://www.wsj.com/articles/u-s-housing-market-needs-5-5-million-more-units-says-new-report-11623835800?
Category: Top National News
May Retail Sales Fell 1.3% as Americans Spend Less on Goods
Associated Press, June 15, 2021–Joseph PisaniRetail sales fell in May, dragged down by a decline in auto sales and a shift by Americans to spend more on vacations and other …
Harris to Announce $1.25 Billion for Lenders in Virus Aid
Bloomberg, June 15, 2021–Jordan FabianThe Biden administration will award $1.25 billion to hundreds of community lenders in an effort to speed the economic recovery from the coronavirus pandemic, Vice President …
Commercial Mortgage Debt Outstanding Rises in 1Q as Pandemic Wanes
National Mortgage News, June 15, 2021–Brad Finkelstein (subscription)There was a 1.1% increase in commercial and multifamily mortgage debt outstanding during the first quarter, but the majority was from the housing …
MISMO Releases eMortgage Technology Certification Program
National Mortgage Professional, June 15, 2021–Katie JensenMISMO announced release of an eMortgage Technology Certification program to assist lenders in finding products that comply with industry standards.https://nationalmortgageprofessional.com/news/mismo-releases-emortgage-technology-certification-program
U.S. Producer Prices Rose Strongly in May, Adding to Inflation Pressures
Wall Street Journal, June 15, 2021–Gwynn Guilford (subscription)The Labor Department said Tuesday that its producer-price index rose 0.8% in May from the prior month, up from the 0.6% increase in …
Mortgage Credit Increased in May But Remains Well Below Pre-Pandemic Levels
MortgageOrb, June 15, 2021–Michael BatesMortgage credit availability increased in May, rising 1.4% compared with April to a score of 129.9 on the Mortgage Bankers Association’s Mortgage Credit Availability Index.https://mortgageorb.com/mortgage-credit-increased-in-may-but-remains-well-below-pre-pandemic-levels
Biden Pressed to Go ‘Big and Bold’ in Rooting Out Housing Discrimination
Politico, June 15, 2021–Katy O’Donnell“I don’t know how you move away from what a buyer and seller are willing to pay,” said Pete Mills, senior vice president of residential policy …
Expert Insight: ‘Homeownership Can Be Affordable Housing’
M Report, June 15, 2021–Christina Hughes BabbBy writing policy that prioritizes Americans’ access to homeownership, lawmakers could address both the affordable home shortage and the racial wealth gap, Urban Institute …
The LIBOR Transition Hatches a ‘Chicken or Egg’ Conundrum
Potomac Point Group, June 14, 2021—Martha-Rosalind “MR” StaintonAfter a year of extreme uncertainty, the particulars of the LIBOR transition seem to be solidifying, at least on the surface. The last …