Good Morning! Today is Wednesday, December 20. Donald Trump was disqualified from Colorado’s presidential primary ballot. The Senate will adjourn this week without a deal on immigration and aid for Ukraine. El Paso County sued Texas over a law that allows police to arrest migrants crossing from Mexico.
The Mortgage Note Reports
Apps Fall: Mortgage applications slipped as the initial excitement of falling rates wore off and buyers once again looked skeptically at the market.
Sales Spark: Existing-home sales increased for the first time in five months as falling rates made homebuying more affordable.
Value Of Realtors: The full impacts of legal actions being taken against the National Association of Realtors are still not clear, but industry leaders are advocating…
Good Morning! Today is Tuesday, December 19. Global oil prices rose after BP stopped sending tankers through the Red Sea. Google said it will pay $700 million to settle an antitrust suit brought by a group of state attorney generals. The E.U. is investigating X, formerly Twitter, saying it lacks moderation of illicit content and disinformation.
The Mortgage Note Reports
In-Person Lending: As consumers turn to mortgage professionals they can trust in their communities, it is predicted that more industry leaders will depend on a retail model to make the most out of the market. Editor Kimberley Haas has the story.
Starts And Permits: Housing starts surged unexpectedly in November, rising to a six-month high, with the South and Northeast…
Good Morning! Today is Monday, December 18. Southwest Airlines will pay a $140 million penalty over its 2022 holiday meltdown that left 2 million people stranded. Michigan State University will pay $15 million to the families of three students who were shot to death on campus in February. Catholic priests can now bless same-sex couples.
The Mortgage Note Reports
Potential Home Sales: Cooling interest rates have opened a path for potential buyers heading into 2024, sparking “cautious optimism” for housing professionals.
Blacklisted: Two law firms announced they obtained copies of Fannie Mae’s secret “Condo Blacklist” and are sharing it with condo owners and HOAs.
Election 2024: Home affordability is weighing on the minds of voters and at least one leading…
Good Morning! Today is Friday, December 15. Hungary blocked the EU from approving a financial aid package for Ukraine. Senate Democrats said they will delay their holiday break to work on a compromise for Ukraine aid and immigration. A long-horned bull loose on New Jersey train tracks delayed public transit.
The Mortgage Note Reports
Pros And Cons: Opportunity Zones have been successful in some areas of the country, but there has been mounting criticism for them. Writer Erin Flynn Jay has the story.
Rates Hit 5-Month Low: Mortgage rates dipped below 7% for the first time since August after the Federal Reserve set the stage for rate cuts in the coming year.
Merger 2024: Lower and Thrive Mortgage will merge…
Good Morning! Today is Thursday, December 14. Tesla recalled nearly all cars it has manufactured in the U.S. since 2012. House Republicans voted to approve a formal impeachment inquiry of President Biden. The Senate approved an $886 billion defense bill in a bipartisan vote.
The Mortgage Note Reports
Better And Better: As 2023 draws to a close, good news for homebuyers keeps rolling in, suggesting change might be just around the corner.
Rates Held Steady: Signaling an end to rate hikes, the Federal Reserve held steady again on Wednesday, which is more good news for buyers.
New Mortgage Product: Wholesale Non-QM lender Newfi Lending announced EquityChoice, a new type of shared appreciation mortgage.
In other mortgage and housing news…
Fix…
Good Morning! Today is Wednesday, December 13. The U.N. General Assembly voted in favor of a cease-fire in the Israel-Hamas war. The Supreme Court said it will consider whether to restrict access to a widely used abortion drug. Diplomats from nearly 200 countries agreed to transition away from fossil fuels.
The Mortgage Note Reports
Application Surge: Refinances drove a spike in mortgage applications last week as rates slipped to nearly 7%.
Truv x LPA: E/I verification provider Truv now supports Freddie Mac’s Loan Product Advisor asset and income modeler.
Giving Back: A grant from the Wells Fargo Foundation will help establish a training program to address the need for credentialed contractors in communities nationwide. Editor Kimberley Haas has the story.…
Good Morning! Today is Tuesday, December 12. Two Georgia election workers are seeking $43 million in defamation damages from Rudy Giuliani. Volodymyr Zelensky is in Washington today to ask for additional aid. A jury ruled that Google violated antitrust laws to extract fees and limit competition from developers on its mobile app store.
The Mortgage Note Reports
“Home For Sale Nearby”: Rocket Homes made its iOS app available on CarPlay so users can discover nearby listings while commuting.
Upright Upgrade: Upright introduced DSCR rental loans — non-QM loans that don’t require personal income verification — for real estate investors.
ICYMI: Holiday home sales are more common than people think. Writer Nicole Murray shared tips for sellers and agents to…
Good Morning! Today is Monday, December 11. Severe storms and tornados killed at least six people in Tennessee this weekend. Donald Trump will not testify as scheduled in his civil fraud trial today. Elon Musk allowed conspiracy theorist Alex Jones back onto X after a five-year ban.
The Mortgage Note Reports
Hallmark Heaven: Did you know that there are towns with holiday-themed names such as Rudolph and Santa Claus? Writer Chuck Green talked to industry leaders who work in some of these places to find out more about what drives people to move there.
More Homes For Sale: Cooling mortgage rates cut some homeowners loose from rate lock-in last month and eased stock shortages that helped stall the housing…
Good Morning! Today is Friday, December 8. Trump’s lawyers appealed a judge’s ruling that he is not immune from prosecution. Hunter Biden has been charged with failing to pay taxes on millions in income. The Eastern U.S. is bracing for a severe storm this weekend.
The Mortgage Note Reports
Past To Present: First-time homebuyers have complained that they need to spend more to get less than their parents. Are they right? Writer Chuck Green explores how much home people are getting today compared to previous generations.
Hedge Fund Bill: A bicameral bill introduced this week would force hedge funds to sell at least 10% of the total number of single-family homes they currently own to homebuyers every year for 10…
Good Morning! Today is Thursday, December 7. An investigation found that an Israeli tank crew killed a journalist and wounded six reporters in Lebanon. Representative Kevin McCarthy will leave the House at the end of the year. A gunman at the University of Nevada, Las Vegas, killed three people.
The Mortgage Note Reports
GSE DPA Update: Freddie Mac is streamlining down payment assistance programs with standardized mortgage documents for lenders working with HFAs.
Alliant Loan Options: Alliant Credit Union rolled out several new mortgage offerings and a home construction loan.
In other mortgage and housing news…
“Potential Tripwires”: The housing markets facing the greatest downturn risks are clustered in California, New Jersey, and Illinois, ATTOM says.
Early Gift For Buyers: …
