The Week Ahead: An Eye on Mortgage Performance

first_img The Week Ahead: An Eye on Mortgage Performance About Author: Seth Welborn  Print This Post in Daily Dose, Featured, Investment, News Previous: Fed Chair Responds to Coronavirus Fears Next: Planet Home Lending Hires Servicing Platform SVP Subscribe The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Tagged with: HOUSING mortgage Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily center_img This week, Freddie Mac will be releasing its latest Primary Mortgage Market Survey, a measure of changes in rates both month-over-month and year-over-year. Recently, a report by Markets Insider revealed the growing virus has caused mortgage rates to continue their downward slide. The report found the average rate for a 30-year fixed-rate mortgage hit 3.34%.The yield on the 30-year US Treasury bond was still at 1.8%, a record low, while the 10-year yield fell to 1.37%, its lowest since 2012.Realtor.com’s Chief Economist Danielle Hale said that there is limited knowledge on the Coronavirus, as well as its “human and economic impacts.”“There have been periods when it seemed that the virus might be relatively contained as with the SARS outbreak many years ago,” Hale said. “New information suggests that COVID-19 may be more easily spread and thus will have more wide-spread impacts. But we are still learning, and as we learn more, markets will adjust to price-in this new information.”Additionally, according to Freddie Mac, the single-family serious delinquency rate fell 3 basis points to 60 in January. Freddie Mac’s maximum exposure to Fannie Mae-issued collateral included in Freddie Mac-issued resecuritizations was $30.4 billion.Delinquency on mortgage loans through Freddie Mac consistently fell through 2019. The delinquency rate for mortgage loans was at 0.86% in January 2019 and ended the year at 0.79%.Black Knight’s January 2020 look at mortgage data found the national delinquency rate fell to 3.22%. Delinquencies fell more than 5% month-to-month in January and are down 14.17% over the year.While loan delinquencies are on a downward trend, foreclosure starts rose in January by 8.35%. However, they are 14.74% down on an annual basis.The foreclosure rate charted a barely perceptible increase of just 0.41% over the month of January as 1,000 properties slipped into foreclosure. The national foreclosure rate now stands at 0.46% of all mortgage loans outstanding. Despite the slight increase in January, the rate is down 9.24% from a year ago.Here’s what else is happening in The Week Ahead:Construction Spending (March 2)Unemployment Rate (March 6) February 28, 2020 1,674 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago HOUSING mortgage 2020-02-28 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / The Week Ahead: An Eye on Mortgage Performance Servicers Navigate the Post-Pandemic World 2 days ago Related Articleslast_img read more

Registrations begins for Bayonne PAL Senior Boys Basketball

first_imgThe Bayonne PAL Basketball program would like to announce that registration for the Senior Boys 2018 season has begun. Senior Boys is for ages 13-15. The Registration fee is $100 per child. Our office is located at Midtown Community School, door number 7, and our office hours are from 6 – 7:30 p.m., Monday through Friday. The program is open to Bayonne residents only. Our phone number is (201) 858-6966, ext. 11, and the deadline is March 15.last_img

Trump Criticism Aside, Governors Call For More Federal Help

first_imgImage via Joyce N. Boghosian / The White House / Flicker.com.WASHINGTON — A chorus of governors from both parties pushed back hard after President Donald Trump accused Democrats of playing “a very dangerous political game” by insisting there is a shortage of tests for the coronavirus. The governors countered that the White House must do more to help states do the testing that’s needed before they can ease up on stay-at-home orders.Kansas Democratic Gov. Laura Kelly said the current federal effort “really is not good enough if we’re going to be able to start to open our economy. We cannot do that safely without the tests in place.”Supply shortages have stymied U.S. testing for weeks. The needs range from basic supplies like swabs and protective gear to highly specialized laboratory chemicals needed to analyze patient results. Hospitals, laboratories and state health departments report scouring the globe to secure orders, competing against each other and their peers abroad.The governors’ plea for stepped-up coordination came Monday when the Trump administration again provided discordant messaging: Trump blasted state leaders on Twitter for being too dependent on federal government and said later that some governors just didn’t understand what they had, while Vice President Mike Pence assured governors the government was working around-the-clock to help them ramp up testing. Pence sought to soften the administration’s message amid growing clamor from both parties for a national testing strategy to help secure testing swabs, chemical reagents and other crucial supplies.“When it comes to testing, we’re here to help,” Pence told governors during a video conference from the headquarters of the Federal Emergency Management Agency. The Associated Press obtained audio of the call.Pence said the administration sent each state a detailed list Monday of testing capacity. But Maryland Republican Gov. Larry Hogan said much of the unused lab machinery listed for his state was in federal labs the state does not have access to. Pence said the administration has agreed to open up federal labs to help states.Hogan announced Monday that the state had received 500,000 tests from South Korea — a “game-changing” deal negotiated by his wife, Yumi Hogan, who grew up outside Seoul.“They want the states to take the lead, and we have to go out and do it ourselves, and so that’s exactly what we did,” Hogan said.Trump didn’t take that lying down. In his daily briefing, he said some governors have “more capacity than they understand.”“The governor of Maryland could have called Mike Pence, could have saved a lot of money,” Trump said. “I don’t think he needed to go to South Korea. He needed to get a little knowledge.”In Ohio, Republican Gov. Mike DeWine said his state is working with another federal agency, the Food and Drug Administration, to find a source of reagent, the chemical used to analyze test results. “A lot of good things are going on, but we’re not there yet,” DeWine said.Democratic Montana Gov. Steve Bullock said his state received 5,000 nasal swabs Monday from FEMA — evidence the federal government is listening. But he added, “It doesn’t get us far enough.”In New York, Democratic Gov. Andrew Cuomo said the states should take the lead on testing but it’s up to the federal government to help sort out supply chain issues facing testing manufacturers.“What the states will run into is when you talk to those labs … they buy machines and equipment from national manufacturers,” said Cuomo, who is expected to meet with Trump at the White House Tuesday. “And those labs can only run as many tests as the national manufacturers provide them chemicals, reagents and lab kits.”Pennsylvania Democratic Gov. Tom Wolf said, “We need the reagents, we need the test kits and I think that’s the sort of general cry from other states.”As Pence spoke with the governors, Trump took to Twitter with a more combative tone than his vice president, complaining that the “radical left” and “Do Nothing Democrats” were playing politics with their complaints about a lack of tests.“Now they scream ….‘Testing, Testing, Testing,’ again playing a very dangerous political game,” Trump tweeted. “States, not the Federal Government, should be doing the Testing – But we will work with the Governors and get it done.”Public health experts say the country needs to dramatically increase its testing infrastructure if it is going to safely roll back restrictions and reopen businesses without risking a major spike in infections.Dr. Anthony Fauci, the nation’s top infectious diseases expert, told ABC’s “Good Morning America” on Monday that the country is currently running about 1.5 million to 2 million tests per week. But, “we really need to get up to, at least, you know, maybe two times that, three times that.”The White House said the Pentagon is finalizing negotiations with a Maine medical company to ramp up production of nasal swabs under the Defense Production Act. An Ohio manufacturer of cotton swabs has also agreed to convert its facilities to allow for 10 million testing swabs per month.Testing was an issue on Capitol Hill, too, where the administration and Congress were inching toward agreement on an aid package of more than $450 billion to boost a small-business loan program that has run out of money. The deal is expected to add funds for hospitals and COVID-19 testing, as well.For most people, the coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. But for some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia and death. 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