“Requiring Fannie Mae and Freddie Mac to charge a 0.5% fee on refinance mortgages they purchase will raise interest rates on families trying to make ends meet in these challenging times. This means the average consumer will be paying $1,400 more than they otherwise would have paid. Even worse, the September 1 effective date means that thousands of borrowers who did not lock in their rates could face unanticipated cost increases just days from closing.” --MBA Senior Vice President of Legislative and Political Affairs Bill Killmer.

This week, the Mortgage Bankers Association releases its 2nd Quarter National Delinquency Survey. Last week, ATTOM Data Solutions, Irvine, Calif., said foreclosure moratoria stemming from the coronavirus pandemic kept new foreclosure filings low—but warned they could increase dramatically once those moratoria expire.

Full recovery in U.S. hotel demand and room revenue remains unlikely until 2023 and 2024, respectively, said STR, Hendersonville, Tenn., and Tourism Economics, Wayne, Pa. The firms slightly downgraded their hotel outlook report.