Good Morning! Today is Monday, May 8. Britain’s King Charles III was crowned on Saturday. A gunman killed eight people at a mall in Texas, and a driver plowed into a crowd of migrants near the Texas border, killing at least another eight. Biden is meeting with Speaker Kevin McCarthy this week to try to end the debt ceiling standoff.
The Mortgage Note Reports
Flipping The Narrative: Tradition dictates that April and May are the hottest months for the housing market, but there are unique opportunities in parts of the country where that isn’t necessarily the case. Chuck Green has the story.
Optimistic Outlook: Consumers are more optimistic that the housing market will turn in their favor in the coming…
Good Morning! Today is Friday, May 5. Four members of the Proud Boys were convicted of sedition for leading a violent mob on the Capitol. North Carolina passed a 12-week abortion ban, but its governor plans to veto it. A jury found that Ed Sheeran’s 2014 “Thinking Out Loud” did not copy Marvin Gaye’s “Let’s Get It On.”
The Mortgage Note Reports
Rates Dip: Mortgage rates fell last week, averaging 6.39%, after Jerome Powell’s suggestion that a pause in rate hikes may be coming.
Besting Expectations: Rocket Companies had a better first quarter than many analysts feared, losing less than expected.
ICYMI: This week, TMN had articles about marijuana’s impact on the rental market, the Fed raising interest rates at…
Good Morning! Today is Wednesday, May 3. Biden is sending 1,500 troops to the southern border to manage a possible migration surge. A judge rejected a transgender lawmaker’s effort to return to the Montana House Floor after Republicans barred her. Police said they have captured a man who shot and killed five neighbors in Texas.
The Mortgage Note Reports
The Current Facts: Two bills have been put forward by lawmakers to block the FHA’s loan level pricing adjustments. Here’s what we know.
Applications Take A Hit: Mortgage applications fell last week even as rates dipped for the first time in three weeks.
Zeller At Veros: Heather Zeller has joined mortgage tech company Veros Software as Vice President of Marketing.
Spring…
Good Morning! Today is Tuesday, May 2. The FOMC begins its two-day meeting today. To prevent future bank runs, the F.D.I.C. proposed protecting larger deposits than it now does. Thousands of movie and TV writers went on strike, halting many productions.
The Mortgage Note Reports
The Marijuana Question: Marijuana legalization is a hot topic affecting many areas of society, including housing. Bertha Garrett explains how it’s shaping the rental market.
Spring Update Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers. Check out our spring podcast for the latest.
New Motto Debut: Motto Mortgage Luxe Group opened in Houston, TX, headed by industry pros Angela Martin and Toi Parnell.
Price Gains Shrink: …
Good Morning! Today is Monday, May 1. Another bank collapsed as regulators seized First Republic Bank and sold it to JPMorgan Chase. Ding Liren became the first Chinese man to become the World Chess Champion. A top adviser to New York’s governor, Kathy Hochul, said he would resign over reports of a toxic work environment.
The Mortgage Note Reports
Bank Takeover: Jamie Dimon, chairman and CEO of JPMorgan Chase, has issued a statement about the takeover of First Republic Bank.
Market Movement: Net new listings and contract volume have officially declined for twelve straight months, new data shows, but prices keep rising.
Quality Leads Product: Unify introduced a new product, Prequalified Leads, that gives users prequalified mortgage information that doesn’t…
Good Morning! Today is Friday, April 28. Russia launched a major assault on civilian targets in Ukraine, killing at least 12 people. Mike Pence appeared before the grand jury hearing evidence about Trump’s election interference. Talk show host Jerry Springer died at 79.
The Mortgage Note Reports
Rates Up And Down: The 30-year FRM increased once again last week, up to 6.43%, but the 15-year declined to 5.71%, providing relief for a small segment of buyers.
Impac Booted Out: Impac Mortgage stock has been delisted from NYSE following the company’s exit from the TPO channel.
ICYMI: This week, TMN had articles about mortgage fee changes being under fire, industry concerns that were shared at the MBA’s National Advocacy Conference, and…
Good Morning! Today is Thursday, April 27. Disney sued Gov. Ron DeSantis, arguing that his fight with the company was retaliation for speaking out against a Florida education bill. British regulators rejected Microsoft’s plan to acquire Activision Blizzard. Pope Francis will allow women to vote at a meeting about the future of the Catholic Church.
The Mortgage Note Reports
Pending Sales Down: Pending home sales sank in March, down 5.2%, as rate-sensitive buyers continue to skirt the market.
Zombie Loans Warning: The CFPB issued a reminder that threatening to sue to collect on time-barred mortgages violates the Fair Debt Collection Practices Act.
Addressing Affordability: Editor Kimberley Haas spoke with Bill Banfield, EVP of Capital Markets at Rocket Mortgage, to learn…
Good Morning! Today is Wednesday, April 26. Anheuser-Busch put two executives on leave after the fallout from a transgender influencer’s promotion for Bud Light. Chief Justice John Roberts declined to testify before Congress about ethics concerns on the Supreme Court. Singer Harry Belafonte died at 96.
The Mortgage Note Reports
Concerns Discussed: Attendees at the Mortgage Bankers Association’s National Advocacy Conference shared concerns about housing affordability, trigger leads, and changes to the loan-level price adjustment matrix. Editor Kimberley Haas has the story.
Applications Increase: Mortgage applications rose last week, up 3.7%, despite rates jumping to their highest point in more than a month.
McKray At MMI: Brian McKray has joined Mobility Market Intelligence as director of product development.
TMN Presents: …
Good Morning! Today is Tuesday, April 25. Fox News let go of on-air personality Tucker Carlson, while CNN and anchor Don Lemon parted ways. Biden formally announced his re-election bid. North Dakota’s governor signed a bill banning abortion after six weeks of pregnancy, even in cases of rape or incest.
The Mortgage Note Reports
Surprise Sales Boom: New home sales increased by more than expected in March but remain down significantly from last year.
And Surprise Price Gains: Home prices rose again in February, up 2% YOY and 0.2% from January, surprising analysts who expected a decline.
Is This Fair? Changes to fees for loans backed by Fannie Mae and Freddie Mac are under scrutiny after reports that homebuyers with…
Good Morning! Today is Monday, April 24. Florida Gov. Ron DeSantis is in Japan to meet with Prime Minister Fumio Kishida ahead of his expected White House bid. The chief executive of NBCUniversal is stepping down after an investigation into inappropriate workplace conduct. A fire-breathing dragon prop at Disneyland actually caught on fire during a show.
The Mortgage Note Reports
Rate Lock Explosion: Home shoppers following the market closely jumped on retreating rates in March, giving the spring buying season a boost.
Starting Early: Gen Z is ahead of Millennials when it comes to homeownership, with 37% already owning a home or planning to purchase one within the next five years.
TMN Presents: The Mortgage Meltdown Meter, a collection of…
