Good Morning! Today is Tuesday, June 20. We hope everyone had a reflective and inspiring Juneteenth. A submersible headed for the sunken Titanic has been missing since Sunday. The Coast Guard is rushing to save those inside. Trump told Fox News the secret document he described in a recording was just news clippings.
The Mortgage Note Reports
Back To The Office: Companies are requiring their employees to be back at the office for most of the week, should this apply to mortgage professionals? It depends. Writer Chuck Green has the story.
Housing Starts: Data released this morning shows that privately-owned housing starts were up last month, exceeding expectations.
Lenders Fighting Unaffordability: Amsterdam-based Anyone.com is looking for U.S. lenders to join…
Good Morning! Today is Friday, June 16. A tornado killed three people and injured at least 75 others in the Texas Panhandle. New Jersey is the first state to require that all grades learn about climate change. Jack Teixeira, the Air National Guardsman who shared U.S. intelligence in an online chatroom, was indicted on charges of mishandling secrets.
The Mortgage Note Reports
Rates Respond: Mortgage rates ticked down slightly, from 6.71% to 6.69%, the second consecutive week of declines and the result of the Fed pause.
Cenlar Hire: Industry vet Tom Donatacci is joining Cenlar as Investor Relations Officer.
ICYMI: 60% of mortgage professionals are living paycheck to paycheck, and although it feels like the market is stuck now, people…
Good Morning! Today is Thursday, June 15. The Supreme Court upheld a federal law that prioritizes the placement of Native American children with Native families. Southern Baptists voted to restrict women in church leadership. Miami mayor Francis Suarez entered the race for the Republican presidential nomination.
The Mortgage Note Reports
They Paused: The Federal Open Market Committee called a pause on their rate hikes Wednesday, electing to keep the target range at 5% to 5.25%, but they expect to raise rates “somewhat further” before the end of 2023. Writer Patrick Lavery has the story.
Racial Bias In Appraisal: Veros says its automated valuation model isn’t biased, producing comparable figures for redlined and non-redlined homes.
Kellett At FirstClose: Dan Kellett has…
Good Morning! Today is Wednesday, June 14. Donald Trump entered a not guilty plea and was fingerprinted in a Florida court yesterday. Author Cormac McCarthy died at 89. The Olympic sprinter Tori Bowie died of complications from childbirth, an autopsy found.
The Mortgage Note Reports
Rate Watch: All eyes are on the Federal Reserve as industry leaders speculate about what the FOMC will do concerning rate increases.
Applications Flip: Mortgage applications turned around after four weeks of declines, up 7.2%, as rates moderated near-7% highs.
Mortgage Pros Laid Low: More than half of all mortgage professionals are living paycheck to paycheck, contending with rising inflation and a cooling market.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from…
Good Morning! Today is Tuesday, June 13. Trump is expected to plead not guilty today to illegally keeping classified documents and obstructing government efforts to obtain them. The Senate will investigate the merger between the PGA Tour and LIV Golf. The F.T.C. sued to stop Microsoft from buying video game giant Activision Blizzard.
The Mortgage Note Reports
Another Buydown Program: Guild Mortgage has introduced a new 1% down, 1% one-year lender interest rate buy-down program.
Millennials Lag Behind: How do you get the largest cohort of possible homebuyers to actually find a house? Increasing inventory may be the only option.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay…
Good Morning! Today is Monday, June 12. Part of I-95 collapsed in Philadelphia after a tanker truck caught fire under an overpass. Billionaire George Soros has tapped his son Alexander Soros to run his PAC and charity. JPMorgan Chase settled with Jeffrey Epstein’s victims after an accusation that it operated as a financial conduit for his crimes.
The Mortgage Note Reports
Prices Surging: Competition for limited inventory has led to surprisingly hot home prices this season, up 1.4% from April to May.
Nowhere Near Normal: Though mortgage originations fared better in May than in April, they remain constrained, a “likely harbinger” of slow months to come.
Get Moving: Although the market is slow now, there will eventually be a point…
Good Morning! Today is Friday, June 9. Donald Trump was indicted by a federal grand jury on charges linked to his handling of classified documents seized from Mar-a-Lago. The Supreme Court rejected Alabama’s redrawn congressional map. The American branch of the cryptocurrency exchange Binance halted trading in U.S. dollars.
The Mortgage Note Reports
Rates Fall: Mortgage rates declined to 6.71% last week, breaking a three-week streak of increases, but lower rates barely put a dent in the affordability problem.
North-Clauss At Truv: Bryan North-Clauss has been appointed Chief Revenue Officer at Truv, a financial data provider.
FOMC Preview: While most analysts don’t expect an interest rate increase at next week’s FOMC meeting, others are betting on a more hawkish…
Good Morning! Today is Thursday, June 8. Areas of the Northeast, Midwest, and South remain under air quality alerts. Pope Francis had surgery to treat a hernia and is expected to stay in the hospital for several days. North Dakota’s Republican governor (and tech billionaire) Doug Burgum announced he is running for president.
The Mortgage Note Reports
Road To Recovery: Office space is down but not out, according to an economist who says a majority of companies are still committed to having a place where the “secret sauce” of their business is created. Editor Kimberley Haas has the story.
Missing Middle: Middle-income buyers can afford less than a quarter of all homes listed on the market, and more than 300,000…
Good Morning! Today is Wednesday, June 7. The PGA Tour and Saudi Arabia’s LIV Golf are merging. Chris Christie, former governor of New Jersey, entered the presidential race. Atlanta’s City Council voted to approve funding for “Cop City,” a police training facility that sparked years of protests.
The Mortgage Note Reports
“Massive Game Changer”: As AI continues to dominate news headlines, real estate leaders are speaking about what this wave of technology means for the future of their market. Editor Kimberley Haas has the story.
Rates, Applications Drop: Mortgage applications fell for a fourth consecutive week, down 1.4%, even as rates retreated from near-7% highs.
FHL SF Hire: Jennifer Schachterle has been appointed SVP of Sales and Business Development of…
Good Morning! Today is Tuesday, June 6. Mike Pence announced he is running for president. U.S. regulators accused Binance, the world’s largest crypto exchange, of mishandling customer funds and lying to investors. Apple announced goggles that overlay the virtual world on reality.
The Mortgage Note Reports
Prices Rising: Single-family home prices increased again in April, up 2% YOY and 1.2% from March, as low inventory keeps a nationwide correction at bay.
Cities Snubbed By Zoomers: Gen Z homebuyers favor affordable metros over traditionally young cities like San Francisco and NYC, preferring to save cash on housing.
Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Listen to our…
