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…
Good Morning! Today is Friday, April 21. The Pentagon is sending U.S. troops to eastern Africa for a possible evacuation of the American Embassy in Sudan. Britain’s deputy prime minister, Dominic Raab, resigned after a bullying investigation. SpaceX’s Starship rocket exploded minutes after lifting off yesterday.
The Mortgage Note Reports
Rates Reverse Course: Mortgage rates jumped last week, up from 6.27% to 6.39%, breaking a five-week streak of declines.
Sales Dip: Existing-home sales fell by 2.4% in March after rising the month prior as the housing market remains rate sensitive.
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.
What are you seeing…
Good Morning! Today is Thursday, April 20. A stampede for food aid in Yemen killed at least 78 people. Two Texas cheerleaders were shot after one tried to get into the wrong car after practice. The F.D.A. authorized another round of Covid vaccine boosters for people 65 and older.
The Mortgage Note Reports
“Competition Is Fierce”: First-time buyers are still living in last year’s housing market thanks to limited affordable inventory, leading to tight competition and soaring prices.
New Guild District: Guild Mortgage continues its expansion, announcing a new district in California made up of eight branches.
Hitting The Hill: Members of the Mortgage Bankers Association gathered this week in Washington DC, where they met with lawmakers after hearing from…
Good Morning! Today is Wednesday, April 19. Fox settled a defamation lawsuit by Dominion Voting Systems for $787.5 million. China is preparing to expand its nuclear arsenal. The Supreme Court is expected to decide today whether an abortion pill will remain temporarily available while an appeal moves forward.
The Mortgage Note Reports
Struggle Ahead: AEI’s Ed Pinto expects housing sales in 2023 to follow the same pattern from a decade ago. Scott Kimbler has the story.
Market Stress: Interest rates increased last week for the first time in more than a month, pushing mortgage applications down.
Advice To FHA: CHLA and NAR sent a letter to the FHA offering suggestions on how the 203(k) loan program could better serve homeowners…
Good Morning! Today is Tuesday, April 18. A grand jury in Ohio decided not to charge the police officers who killed Jayland Walker, a 25-year-old Black man, after an attempted traffic stop. A Moscow court sentenced a prominent Putin critic to 25 years in prison. The F.B.I. charged two men with running a Chinese police outpost in New York City.
The Mortgage Note Reports
Stricter Lending: FirstAm’s Potential Home Sales Model fell by 2.5% in March as bank failures prompt lenders to tighten credit for some loans.
Rice At Volly: Tom Rice has been named SVP of Sales and Account Management at mortgage tech and marketing company Volly.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the…
Good Morning! Today is Monday, April 17. Three attackers in India killed a former politician and criminal in front of police officers on live TV. SpaceX is expected to launch its rocket Starship today. A shooting at a 16th birthday party in Alabama left four people dead and 28 others wounded.
The Mortgage Note Reports
Putting Pets First: Zoomers are focusing more on their pets’ comfort than their romantic partners or future families when choosing a home.
Renovation Mindset: Inflation is forcing homeowners to put renovations on the back burner, but most would still rather renovate than move.
Market Insights: Cory Ure at SecurityNational Mortgage Company in Salt Lake City sat down with Editor Kimberley Haas to talk about lending…
