While not yet negative, Q3 2021’s neutral BPPI figure reflects a worsening situation for homebuyers reliant on mortgage financing.
Press Release: Q3 2021 Buyer Purchasing Power Index hits zero as interest rates rebound from bottom
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California Mortgage Lending
Learn the core concepts of consumer and business mortgage lending and brokering.
Stay current on the latest news, videos, forms, and updates for California Mortgage Lending.
Recent updates to the course e-book
- Chapter 3: The Agency Law Disclosure. The updated statutory Agency Law Disclosure and confirmation provision went into effect the beginning of 2019. Both the content of the form and when it is to be used have been modified. Further, prior printings indicate the Agency Law Disclosure is not required on a lease with a term exceeding one year. However, lease transactions greater than one year are targeted transactions requiring the disclosure. For a thorough analysis of the new disclosure and confirmation practices, see the digital eBook version of the book.
- Chapter 72: Home mortgage interest deductions. The definition for principal residence on page 472 is partially obscured. It should read “The residential property where the homeowner resides a majority of the year.”
- Quiz 3 Question 3 has been simplified to read:
California anti-discrimination law is enforced by:
a. the Department of Business Oversight (DBO).
b. the Department of Fair Employment and Housing.
c. the Department of Housing and Urban Development (HUD).
d. Fannie Mae.
06/25: The 2025 rules for buyer representation and fee-splitting avoidance are currently being edited into this e-book.
Newly published related content
Asset prices are untethered from incomes; Monthly Statistical Update (October 2021)
1.3 million more jobs needed in California; Stocks soar to new heights; Stocks or real estate in 2022?
Interest rates set to rise; Monthly Statistical Update (September 2021)
30-year FRM rates have a story to tell; ARMs poised to shift lender risks to homebuyers; The 10-year Treasuries and FRM rate spread suggests rates will rise
Second-home demand a symptom of California’s uneven recovery
Foreclosure and home sales figures together warn of an uneven, K-shaped recovery ahead.
1 million serious delinquencies expected as forbearance programs expire
While overall delinquencies maintain their improvements, serious delinquencies remain elevated as forbearance deadlines approach.
DFPI Bulletin Digest: August 2021
The August 2021 DFPI Bulletin focuses on the 2020 Report on the California Residential Loan Mortgage Act and the first Debt Collector Advisory Committee meeting, among other topics.
More jobs and pay needed to support today’s home prices; Monthly Statistical Update (August 2021)
California home prices soar; Jobs begin their long recovery; Homebuyer purchasing power to level, removing support for increasing prices
Mortgage delinquencies see first year-over-year decline since the 2020 recession, with a caveat
The overall delinquency rate for U.S. residential mortgages experiences its first year-over-year decrease despite serious delinquencies rising.
The coming surge in mortgage modification defaults
This article forecasts a surge in mortgage modifications in the wake of the coming expiration of foreclosure moratoriums — which will in turn lead to a rise in re-defaulting borrowers.