Good Morning! Today is Friday, April 12. Billions of cicadas are expected to emerge in the coming weeks in some parts of the country. OJ Simpson died of cancer at 76 years old. Donald Trump’s hush money trial will begin Monday.
The Mortgage Note Reports
Renters Lose Hope: Nearly 40% of renters believe they’ll never own a home, up from just 27% last year, due to mounting affordability pressures.
Rates Jump: Mortgage rates are marching towards 7% again, averaging 6.88% last week, as sticky inflation threatens their stability.
In other mortgage and housing news…
Potential Shake-Up: The CFPB is considering banning mortgage bankers from charging buyers for title insurance that protects the lenders, a long-standing practice.
Inflation Fight: Federal…
Good Morning! Today is Thursday, April 11. Iowa made it a crime for a person to enter the state if they have ever been deported or denied entry into the U.S. Spring floods forced more than 100,000 people to leave their homes in Russia and Kazakhstan. Storms in the Southeast delayed the start of the Masters Tournament.
The Mortgage Note Reports
Flippers Hit Hard: Home flipping activity is down as people who work in the industry see reduced returns on investments due to high interest rates and inflation. Writer Erin Flynn Jay has the story.
Foreclosures Up: Foreclosures increased by 3% in Q1 2024 as mounting affordability pressures make some homeowners unable to pay.
DART Rollout: Figure Technology Solutions …
Good Morning! Today is Wednesday, April 10. An appeals court judge rejected another attempt by Donald Trump to delay his criminal case in Manhattan. Benjamin Netanyahu said “no force in the world” will stop Israel’s invasion of Rafah in southern Gaza. Europe’s top human rights court ruled that Switzerland violated its citizens’ rights by not doing enough to stop climate change.
The Mortgage Note Reports
Doubling Down: Leaders at UWM are doubling down on accusations that a report released last week by Hunterbrook Media is inaccurate and tied to their main competitor, Rocket Mortgage.
HackWeek: Team members at Rocket Companies dove headfirst into the topic of leveraging generative AI during their most recent HackWeek as the company works…
Good Morning! Today is Tuesday, April 9. Olympic rings will be displayed on the Eiffel Tower during the games in Paris this summer. An appeals court rejected Donald Trump’s request to move his hush-money criminal case out of Manhattan. President Biden announced a plan to reduce student loan debt for 25 million borrowers.
The Mortgage Note Reports
New Rocket Rollout: Rocket Mortgage launched an AI-driven platform, Rocket Logic, geared towards streamlining the homebuying process.
SDFCU Leadership: Jonathan Hernandez has been appointed Chief Lending Officer at State Department Federal Credit Union.
In other mortgage and housing news…
“Misplaced” Premise: Analysts at BTIG say United Wholesale Mortgage’s revenue margins don’t support the claims made in Hunterbrook Media’s explosive expose.…
Good Morning! Today is Monday, April 8. Parts of the U.S. will experience a total solar eclipse today. Democratic lawmakers are calling for an investigation into an Israeli strike that killed seven World Central Kitchen staffers. A Boeing plane made an emergency landing after an engine cover fell off during takeoff.
The Mortgage Note Reports
Blame Game: UWM and Mat Ishbia are lashing out after a bombshell report last week that was followed up with a consumer class action lawsuit filed on behalf of borrowers.
Multi-Year High: Average homebuyer credit scores soared to their highest point since 2018 in March as buyers with lower scores were priced out of the market.
Unlocking Listings: Inventory is doing best in cities…
Good Morning! Today is Friday, April 5. Israel agreed to open a crossing to increase humanitarian aid to northern Gaza. A shipping channel to the Port of Baltimore will partially reopen by the end of April. A deadly snowstorm caused major power outages in the Northeast.
The Mortgage Note Reports
Living Large: Luxury home prices are at an all-time high as a record share of rich buyers pay cash for homes in the country’s most exclusive areas. Writer Chuck Green has the story.
Major Sacrifices: Average Americans are making sacrifices ranging from fewer vacations to skipping meals to afford their housing costs.
Rates Rise Slightly: Mortgage rates were stagnant last week, moving up a tiny bit but staying put…
Good Morning! Today is Thursday, April 4. The judge overseeing Trump’s Manhattan criminal trial denied his request to postpone the start date. Disney shareholders rejected an activist investor’s bid to win two board seats. Severe storms stretching from Maine to Florida have killed at least two people.
The Mortgage Note Reports
Best Of 2024: First-time homebuyers will find the best mix of affordability, inventory, and young homeowners in Midwestern metros, with St. Louis taking the #1 spot.
Split View: Housing experts disagree on the impact of the Biden administration’s move to cap rent increases for affordable housing units under LIHTC.
Listen Up: Spring is here and the home selling season is getting underway. Writer Nicole Murray spoke with real…
Good Morning! Today is Wednesday, April 3. A 7.2 magnitude earthquake killed nine people and injured hundreds in Taiwan. A fire at an Istanbul nightclub killed 29 people. Prisoners in New York sued the state for trying to prevent inmates from viewing the eclipse.
The Mortgage Note Reports
Explosive Accusation: A scathing new report claims that at least $39 billion in mortgages were referred to UWM by brokers who send most of their business to the lender, throwing their status as “independent” brokers into question.
Apps Down: Mortgage applications slipped again as rates stayed put in the high 6% range, keeping affordability at the forefront of buyers’ minds.
Listen Up: Spring is here and the home selling season is…
Good Morning! Today is Tuesday, April 2. At least one person in Texas has been diagnosed with bird flu after having contact with dairy cows. Israel says it unintentionally killed seven aid workers in Gaza. Iran accused Israel of bombing its embassy in Syria.
The Mortgage Note Reports
“Never Signed”: Leaders at Atlantic Trust Mortgage, wrapped up in a lawsuit over UWM’s “All In” ultimatum, say they never agreed to be in an exclusive relationship with the company. Reporter Jared Whitley has the story.
Quiet Spring: Inventory and rate pressures are creating conditions for a “quieter” spring homebuying season, with depressed sales possible through the coming months.
Gold Standard: “Million-Dollar Cities” are soaring as inventory keeps home prices moving…
Good Morning! Today is Friday, March 29. FTX’s Sam Bankman-Fried was sentenced to 25 years in prison for stealing $8 billion from customers. The World Court ordered Israel to stop the spread of famine in Gaza. A judge is expected to rule on whether the U.S. government must provide shelter and food to migrant children.
The Mortgage Note Reports
Reaction Report: People who make their living helping homebuyers and sellers have spent the last two weeks figuring out what the National Association of Realtors settlement means for them and their clients. Here’s what five industry leaders had to say.
Rates Down: Mortgage rates fell last week, sliding to 6.79%, offering little relief to buyers as markets watch for signs…
