Good Morning! Today is Wednesday, March 27. The Federal Trade Commission accused big retailers of artificially inflating grocery prices. NBC News cut ties with Ronna McDaniel, the former Republican Party chairwoman, after facing criticism. Trump’s social media company surged on its first day of trading on the Nasdaq.
The Mortgage Note Reports
Listen To Our Podcast: Spring is here and the home selling season is getting underway. Writer Nicole Murray spoke with real estate professionals and recent buyers to see what they think about the current market for our latest podcast.
Application Dip: Mortgage applications are down for a second week even as rates fell slightly to 6.93%, still too high to encourage borrower demand.
Brooks At Meridian: Troubled…
Good Morning! Today is Tuesday, March 26. A search is underway after a container ship lost power and destroyed a Baltimore bridge, sending cars into the water. The Supreme Court is hearing a case that could decide the availability of an abortion pill and protesters have been arrested nearby. The U.N. Security Council passed a resolution calling for an immediate cease-fire in Gaza.
The Mortgage Note Reports
Helping Neighbors: Homeownership rates for Black Americans are lagging and leaders in some cities are taking action to turn that around. Writer Erin Flynn Jay has the story.
DPA Program: Atlanta-based Citizens Trust Bank announced a new down payment assistance program for borrowers purchasing affordable homes.
Home Prices: Annual home price appreciation …
Good Morning! Today is Monday, March 25. Boeing CEO Dave Calhoun will step down at the end of the year. Russia charged four men from Tajikistan with terrorism after at least 137 people were killed in an attack at a concert hall. ISIS claimed responsibility. Concerns about Pope Francis’s health are spreading after he skipped his Palm Sunday homily.
The Mortgage Note Reports
Blinded By Lifestyle: Americans are aware of climate risks and the high cost of homeowners insurance, but keep moving to Florida anyway. What gives?
Surprising Results: New home sales declined in February as existing sales surged, suggesting buyers still prefer affordable, older stock over new when it becomes available.
Crowdfunding Campaign: The CEO of a real…
Good Morning! Today is Friday, March 22. Congress will attempt to pass a bill today to fund the government through September. Reddit shares ended their first day of trading in New York up 48%. Trump could get $3.5 billion in a Truth Social merger.
The Mortgage Note Reports
Birkmeier Retiring: Tim Birkmeier, Rocket Mortgage president, is retiring from the company and the industry after nearly three decades.
Heading Back Up: Rates took a turn for the worse last week, rising back towards 7%, as economic data soured analysts’ moods.
Financial Literacy: Can better financial education help to prevent foreclosures? Editor Kimberley Haas has the story.
In other mortgage and housing news…
New Normal: The yield gap between mortgage…
Good Morning! Today is Thursday, March 21. Apple is being sued by the Department of Justice and 17 states that argue the company has monopoly power. Trump said he would support a nationwide abortion ban after 15 weeks of pregnancy. The E.P.A.’s new tailpipe pollution limits are aimed at making most new cars electric or hybrid by 2032.
The Mortgage Note Reports
Changes Coming: Federal Reserve Chair Jerome Powell shared their projections for the federal funds rate after meeting this week. Editor Kimberley Haas has the story.
Debt-Burdened States: Homeowners in Maryland, Hawaii, and Nevada added the most mortgage debt between Q3 and Q4 2023.
PHL Hire: Matt Kingsborough joined Planet Home Lending as Regional Sales Manager.
In other…
Good Morning! Today is Wednesday, March 20. The Supreme Court will not block a Texas law making it a crime for unauthorized migrants to enter the state. Former Trump advisor Peter Navarro reported to prison to begin a four-month sentence. Trump-backed Bernie Moreno will face Sherrod Brown in the Ohio Senate race.
The Mortgage Note Reports
NAR Settlement Impacts Vets: Huge changes to Realtors’ commission structures may disadvantage veterans using VA loans because they are prohibited from paying real estate commissions.
Rates, Apps Yo-Yo: Mortgage applications are down again as affordability-minded buyers respond to fluctuating rates, which shot back up to nearly 7%.
In other mortgage and housing news…
“Tactical Retreat”: NAR’s settlement appears to help the Realtors…
Good Morning! Today is Tuesday, March 19. The FOMC begins its March meeting today. Several states are holding presidential primaries. Japan raised interest rates for the first time in 17 years. The U.S. said Israel will send officials to Washington to discuss concerns over a military operation in Rafah.
The Mortgage Note Reports
Tech Helps: The CEO of Land Gorilla says advancements in technology are creating opportunities for more profitable construction lending. Editor Kimberley Haas has the story.
Construction Comeback: Residential starts bounced back in February for both single- and multi-family housing after severe winter weather slowed builders down.
Grant Offer: Ally Home and HouseCanary are offering a $5,000 grant to homebuyers in three major metros while adding a search…
Good Morning! Today is Monday, March 18. Vladimir Putin won another six-year term in the Russian elections. Elon Musk released the computer code behind his version of an A.I. chatbot, Grok. American sailors and pilots are fighting the Houthis in the Red Sea.
The Mortgage Note Reports
Don’t Be Disappointed: The Feds are not expected to drop rates this week, and that may be the case for some time. Writer Patrick Lavery has the story.
Look Back: Earnings for the fourth quarter of 2023 and the year total are out. Here’s a snapshot of how some of the nation’s top lenders handled last winter.
Leadership Moves: Mortgage industry marketing veteran Sara Holtz has joined Optimal Blue as its Chief Marketing…
Good Morning! Today is Friday, March 15. The federal judge overseeing Trump’s classified documents trial rejected an effort to dismiss the case. Kamala Harris visited a Planned Parenthood clinic in Minnesota. SpaceX’s Starship broke down when re-entering Earth’s atmosphere.
The Mortgage Note Reports
“No Day At The Beach”: Coastal homes are at risk from severe flood damage due to sea level rise and changing storm patterns. Reporter Chuck Green has the story.
Rates Move Down: Buyers lucked out last week as rates continued to decline, hitting 6.74% and cooling the cost of purchasing a home.
New Savings: Digital tool provider Floify introduced a sidekick to its popular platform that includes a flexible per-loan pricing option.
In other mortgage and housing…
Good Morning! Today is Thursday, March 14. The House passed a bipartisan bill that would force TikTok’s Chinese owner to sell the app or face a ban. Family Dollar will close about 1,000 stores. A powerful storm is dumping snow on Colorado, with two to four feet forecast in some areas.
The Mortgage Note Reports
One-Time Close: Wholesale and correspondent lender Click n’ Close launched a new mortgage product designed for homebuyers in rural America.
Tribuna At AH: Affordable lending veteran Mark Tribuna has been named Chief Operations Officer at Arrive Home.
In other mortgage and housing news…
Earnings Report: Guild reported originations at $15 billion in 2023, including $3.5 billion in Q4.
Affordability Woes: The median monthly housing…
