Good Morning! Today is Friday, July 7. The first three days of this week were the hottest in Earth’s recorded history. The U.S. may provide Ukraine with controversial cluster munitions which are banned in many countries. OceanGate said it would suspend its operations after the submersible implosion last month.
The Mortgage Note Reports
Rates Soar: Mortgage rates jumped 10 bps in one week to 6.81%, their highest point of the year so far.
Direct Impact: As the affordability crisis worsens in the U.S., pushing housing costs across cost-burdened thresholds, many Americans may experience homelessness.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.…
Good Morning! Today is Thursday, July 6. Instagram has launched Threads, its short-posting text app, as a competitor to Twitter. Yusef Salaam, one of the Central Park Five, won the Democratic primary for a City Council seat in Harlem. Federal health officials urge older people to get new vaccines for Covid, flu, and R.S.V. before winter.
The Mortgage Note Reports
Last Week’s Gains Gone: After an uptick last week, mortgage applications sank again, falling to their lowest level in a month as rates surged.
FirstAm Change-Up: Jody Mulkey has been named CTO at First American.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing…
Good Morning! Today is Wednesday, July 5. The Secret Service is investigating cocaine found at the White House. Five people were killed when a shooter opened fire on a Philadelphia neighborhood, and another three in a shooting in Fort Worth, TX. The U.S. and Russia are discussing a prisoner exchange, likely for reporter Evan Gershkovich.
The Mortgage Note Reports
Hometap Appt: Fintech Hometap made two exec-level appointments geared towards leveraging capital markets, bringing on Cara Newman and Josh Gaffney.
Safest Data: NewDay USA announced it is protecting veterans from data breaches by investing in the highest level of information security, an ISO 27001 certification.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. …
Good Morning! Today is Friday, June 30. Happy Independence Day weekend! There will not be a newsletter on Monday or Tuesday. Over 50 million Americans will travel 50 miles or more from home this weekend, mostly by automobile. Thunderstorms could disrupt travel for people who fly. It is estimated that $9.5 billion will be spent on Fourth of July food.
The Mortgage Note Reports
Finding Inventory: A lack of inventory continues to put pressure on the housing market but there are some potential sources out there.
ICYMI: Our most popular article this week is about converting office spaces into residential places.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to…
Good Morning! Today is Thursday, June 29. The Supreme Court overturned affirmative action, saying colleges and universities can no longer take race into consideration for admissions. Violent protests erupted in French cities after the police shot a 17-year-old driver. More than 7,000 flights have been canceled or delayed due to strong storms.
The Mortgage Note Reports
Vets With High Hopes: Three-quarters of Veterans and service members feel like homeownership is within their reach and hope to buy in the next year.
Market Insights: The EVP of Rocket Pro TPO says a lack of housing inventory has been hurting mortgage professionals but he is confident broker partners and loan officers have the tools to help homebuyers achieve their goals. Read and…
Good Morning! Today is Wednesday, June 28. Smoke from Canadian wildfires is once again impacting the Midwest. The remains of British actor Julian Sands were discovered in California. Pope Francis has accepted the resignation of the bishop of Knoxville, TN, who has been sued over his handling of sexual misconduct allegations.
The Mortgage Note Reports
Apps Up: Mortgage applications increased last week, with purchase applications reaching their highest level of activity since May, driven by sales of new homes.
Reggora AI Offering: Reggora released a new AI solution for appraisal review that analyzes reports to identify key data points, inconsistencies, and potential red flags.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. …
Good Morning! Today is Tuesday, June 27. President Biden said the U.S. had “nothing to do with” the military revolt in Russia over the weekend. The shooter who killed five people at Club Q in Colorado Springs pleaded guilty and will serve life in prison. Prosecutors will seek the death penalty against the man accused of murdering four University of Idaho students in a home near campus.
The Mortgage Note Reports
Mortgage Fees: The U.S. House of Representatives has passed the Middle-Class Borrower Protection Act which would reverse recent changes to fees charged by Fannie Mae and Freddie Mac. Editor Kimberley Haas has the story.
New Home Sales: New home sales jumped in May as homebuilders continue to experience a…
Good Morning! Today is Monday, June 26. The head of the Wagner group ended a short-lived military rebellion this weekend by striking a deal to leave Russia in order to avoid criminal charges. Severe storms in Indiana killed at least one person on Sunday. Nearly 3,000 flights have been canceled due to the same system.
The Mortgage Note Reports
Office To Residential: Vacant offices could be the perfect fit for new apartments and condos, but industry leaders say there are a number of considerations to take into account with these projects. Editor Kimberley Haas has the story.
Beyond Reach: Only half of Americans believe they’ll ever be able to own a home, now or ever in the future, a sign…
Good Morning! Today is Friday, June 23. The missing Titanic tourist sub likely imploded, the Navy reported, and its occupants are presumed dead. The Supreme Court ruled against the Navajo Nation over access to Colorado River water. A record-setting heatwave is ongoing in Texas and is likely to spread to nearby states.
The Mortgage Note Reports
Barely Budging: Existing-home sales increased slightly in May, up 0.2%, just enough to put a positive spin on an otherwise difficult market.
Rates Slip A Little: Mortgage rates fell to 6.67%, the third consecutive week of declines, but once again gave only an inch.
ICYMI: Should mortgage professionals be back at the office? Writer Chuck Green explored that issue in this week’s most popular…
Good Morning! Today is Thursday, June 22. The House voted to censure U.S. Rep. Adam Schiff for leading investigations into Donald Trump during his presidency. A federal judge sentenced a rioter who assaulted an officer on Jan. 6 to more than 12 years in prison. Math and reading scores for 13-year-olds in the U.S. hit their lowest levels in decades with school closures during the pandemic to blame.
The Mortgage Note Reports
Rural Opportunity: For borrowers in the rural South, a lack of lenders and higher rates make getting a mortgage difficult, but offers opportunities to lenders.
BK’s Image Analyzing App: Black Knight introduced a new app that analyzes property photos with AI to speed up applications for HELOCs.
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