National Mortgage Professional, Mar. 9, 2020Rep. Blaine Luetkemeyer, R-Mo., Ranking Member of the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, introduced a bill to replace the position …
Category: Top National News
Record Low Mortgage Rates Give Millennial Homeowners Much-Needed Breathing Room
Money.com, Mar. 9, 2020–Daniel Bortz Last week mortgage rates hit record-low 3.29%, according to Freddie Mac data. That’s been good news for homeowners, but especially for millennials who’ve strained their …
A $60 Billion Housing Grab by Wall Street
New York Times, March 5, 2020–Francesca MariHundreds of thousands of single-family homes are now in the hands of giant companies — squeezing renters for revenue and putting the American dream …
Fear Isn’t the Only Driver of the Treasury Rally: Banks Need to Hedge Their Mortgages
Wall Street Journal, Mar. 6, 2020–Julia-Ambra Verlaine (subscription)Banks need to buy around $1.2 trillion of 10-year Treasurys to offset risks on mortgages and bank deposits.https://www.wsj.com/articles/fear-isnt-the-only-driver-of-the-treasury-rally-banks-need-to-hedge-their-mortgages-11583470802
Record-Low Mortgage Rates Could Turn a 30-Year Loan into a 20-Year
Fox Business, Mar. 8, 2020–Suzanne O’HalloranQuicken Loans, coming off a record week of business, is seeing more customers refinance existing mortgages in exchange for a shorter duration but not necessarily …
Record Number of Borrowers Can Now Save on a Mortgage Refinance as Rates Drop over Coronavirus Fears
CNBC, Mar. 6, 2020–Diana Olick That drop means that now nearly 13 million borrowers can save money by refinancing their home loans and lowering their current rates by at least …
OCC Proposes Eliminating ‘Outdated’ Licensing Rules
American Banker, Mar. 5, 2020–Brendan Pedersen (subscription)As part of a review, the agency said it had identified requirements dealing with operating subsidiaries, non-controlling investments by banks and other corporate activities …
Lack of Capacity Leads to Widening Mortgage-Treasury Spreads
National Mortgage News, Mar. 5, 2020–Brad Finkelstein (subscription)Capacity constraints among mortgage lenders are leading to wider spreads between mortgages and the 10-year Treasury yield even after it remained below 1% …
Commercial and Multifamily Delinquencies Hover Near Record Low
Mortgage Professional America, Mar. 5, 2020–Candyd MendozaCommercial and multifamily mortgage closed 2019 at or near record low delinquency rates, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Delinquency Report.https://www.mpamag.com/news/investor-mortgage/commercial-and-multifamily-delinquencies-hover-near-record-low-215923.aspx
Homeowners Are in a Frenzy to Refinance as Mortgage Rates Nose-Dive
Yahoo! Finance, Mar. 5, 2020–Doug Whiteman “The 30-year fixed rate mortgage dropped to its lowest level in more than seven years last week, amidst increasing concerns regarding the economic impact …