HousingWire, Sept. 8, 2020–Kathleen HowleyTotal consumer credit in July, not including mortgages, rose to $4.1 trillion.https://www.housingwire.com/articles/consumer-borrowing-regains-pre-pandemic-pace-fed-says/?
Category: Top National News
Mortgage Rate and Housing Market Predictions for Late-2020
The Mortgage Reports, Sept. 8, 2020–Erik MartinFor now, record-low mortgage rates seem set to continue.https://themortgagereports.com/68768/mortgage-rate-forecast-housing-market-predictions-late-2020
Eviction Wave Still at Sea: Will It Make Land?
Multi-Housing News, Sept. 4, 2020–Paul FiorillaPaul Fiorilla of Yardi Matrix sheds light on how the multifamily industry continues to brace for an increase in missed rent payments.https://www.multihousingnews.com/post/eviction-wave-still-at-sea-will-it-make-land/
Mortgage Refinancings Boom, Even As Coronavirus Hits Economy
Wall Street Journal, Sept. 8, 2020–Orla McCaffrey (subscription)The mortgage market recorded its best quarter in years this spring, a reflection of how the housing market is booming in 2020 even …
15-Year Fixed Mortgages Drop to Record Lows
Orange County Register, Sept. 3–Jeff LazersonThirty-year fixed mortgage rates rose slightly in the week ending Thursday, Sept. 3, but still were at their third-lowest level in records dating back 49 …
Fed Corrects Stress Test Error for Mortgage Stanley, Goldman Sachs
American Banker, Sept. 4, 2020–Hannah Lang (subscription)The central bank said it had miscalculated the loss rates for certain public welfare investments, which led to incorrect capital requirements for the two …
CDC’s New Eviction Moratorium Met with Worry from U.S. Housing Providers
Mortgage Professional America, Sept. 4, 2020–Clayton JarvisMortgage Bankers Association CEO Bob Broeksmit described the destabilizing cascade effect a lack of rent payments could have on the country’s housing providers, “millions” …
Odd Lots: Help, War, Move, Winner
UExpress, Sept. 4, 2020–Lew SichelmanThe number of homeowners seeking mortgage forbearance fell for at least eight straight weeks this summer. But that decline masks a couple of other important trends. …
CFPB’s Latest Underwriting Revamp Seen as Boon to Fintechs, GSEs
American Banker, Sept. 2, 2020–Kate Berry (subscription)The agency’s plan to extend the “qualified mortgage” stamp of approval to more loans could help lenders that rely on alternative data and cushion …
Black Borrowers Pay More for Mortgages Throughout the Country–Study
Mortgage Professional America, Sept. 3, 2020–Ryan SmithBlack home buyers are offered higher mortgage rates on average than the general population in every major metro area in the nation, a LendingTree …