MortgageOrb, Nov. 4, 2020–Matthew MercureCommercial and multifamily mortgage loan originations were 47 percent lower in the third quarter compared to a year ago and increased 12 percent from the second …
Category: Top National News
Likely Defeat of California’s Prop 15 a Win for Commercial Lenders
National Mortgage News, Nov. 4, 2020–Bonnie Sinnock (subscription)With the majority of election results in, the Golden State’s ballot measure to expand rent control, Proposition 21, looks as though it will …
Californians Once Again Reject Bid to Expand Rent Control in the State
Los Angeles Times, Nov. 4, 2020–Liam Dillon California voters have again decisively rejected a bid to expand rent control statewide. Proposition 21 was opposed by 59.8% of the voters, according …
Services Sector Expands for Fifth Straight Month
Associated Press, Nov. 4, 2020The U.S. services sector, where most Americans work, registered its fifth consecutive month of expansion in October, the Institute for Supply Management reported Wednesday. https://finance.yahoo.com/news/us-services-sector-expands-fifth-152133501.html
‘Lame Duck’ U.S. Congress to Grapple with Coronavirus Aid, Budget Bills
Reuters, Nov. 4, 2020–Richard Cowan, Susan CornwellThe push in the U.S. Congress for a major new coronavirus aid bill got a post-election boost on Wednesday when Senate Majority Leader Mitch …
Borrowers Continue to Exit COVID-19 Forbearance Plans
MortgageOrb, Nov. 4 2020–Michael BatesThe share of mortgages in COVID-19-related forbearance plans fell to 5.83% as of October 25, down from 5.90% the previous week, according to the Mortgage Bankers …
The Time for Mortgage Companies to Sell is Now, Consultant Says
National Mortgage News, Nov. 4, 2020–Bonnie Sinnock (subscription)Smaller lenders should consider positioning themselves for acquisition at a time when they can be making the most money, says Garth Graham of …
U.S. Treasury Yields Fall on Reduced Stimulus Expectations
Wall Street Journal, Nov. 4, 2020–Sam Goldfarb, Matt Wirz (subscription)U.S. government-bond yields fell sharply Wednesday, reflecting traders’ bets that the results from Tuesday’s election will lead to smaller economic stimulus …
Refinance Activity Is Up 88 Percent YoY
National Mortgage Professional, Nov. 4, 2020–Navi Persaud (MBA mention)The Mortgage Bankers Association’s Weekly Mortgage Application Survey reported a 3.8% increase in mortgage applications on an adjusted basis from the previous …
Jumbo and FHA Mortgage Rates Set Record Lows, Juicing Refinance Demand
CNBC, Nov. 4, 2020–Diana OlickThe rates for jumbo loans, FHA loans and 15-year fixed loans set record lows, while the rate on the most popular loan, the 30-year fixed, saw …