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…
Good Morning! Today is Friday, April 14. The FBI arrested a 21-year-old Massachusetts Air National Guardsman for the Pentagon document leak. Trump was questioned under oath in a civil fraud lawsuit. Both Mitch McConnell and Dianne Feinstein are ill, stalling action in Congress.
The Mortgage Note Reports
Rates Down Again: Mortgage rates ticked down again, the fifth straight week of declines, as inflation shows signs of decelerating and labor markets remain tight.
Urmersbach At Kiavi: Fix and Flip lender Kiavi has named Alex Urmersbach as CFO.
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 this spring homebuying season?…
Good Morning! Today is Thursday, April 13. Juul announced a $462 million settlement with states over the marketing of e-cigarettes to adolescents. NPR will stop using Twitter after the social network labeled it “U.S. state-affiliated media.” Montana may outlaw TikTok, though officials acknowledged that a ban would be hard to enforce.
The Mortgage Note Reports
Swipe To Save: Leaders at Rocket Companies in Detroit have launched a credit card designed for homebuyers and homeowners.
Conventional 1% Down: UWM introduced a program where borrowers put 1% down and the company pays another 2% for a total 3% down payment.
Sahi At Polly: Former ICE exec Parvesh Sahi has joined tech company Polly as CRO.
TMN Presents: The Mortgage Meltdown Meter, a…
Good Morning! Today is Wednesday, April 12. The Biden administration is proposing rules to ensure that two-thirds of new cars sold in the U.S. by 2032 are all-electric. The I.M.F. said the world economy looks increasingly likely to face a slowdown. Trump’s lawyers want to delay the start of a sexual assault and defamation trial.
The Mortgage Note Reports
Consumer Prices: Inflation continued its upward march last month but showed signs of cooling, up 5% YOY, down from 6% in February.
Apps Back On The Rise: Mortgage applications righted themselves last week after a brief dip, up 5.3%, as buyers take advantage of cooling rates.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated…
Good Morning! Today is Tuesday, April 11. Nashville lawmakers reinstated Justin Jones, one of two Black Democrats expelled by a Republican supermajority last week. Italy has rescued more than 2,000 migrants from rough seas since Friday. A gunman killed five of his co-workers at a bank in Louisville, KY.
The Mortgage Note Reports
Policy Memoir: A new book by Mark Calabria provides insider insight into how millions of Americans were provided mortgage and rental assistance in response to the COVID-19 pandemic. Writer Patrick Lavery has the story.
First-Timers Feeling Optimistic: First-time homebuyers are feeling ready to face the market, despite facing high prices, rates, and competition.
NAF Change-Up: NAF rebranded its cash offer program Buyer Accepted to NAF Cash.
TMN…
Good Morning! Today is Monday, April 10. Highly classified Pentagon documents leaked online in recent weeks show how the US spies on both allies and foes. An imam was stabbed during early morning prayers at a mosque in Paterson, N.J. Jon Rahm, 28, won the Masters, the second major win of his career.
The Mortgage Note Reports
March Gains: Lock volumes increased across the board last month, with purchase locks seeing the greatest month-over-month increase of the past five years.
Vacation Home Demand: House hunters are poised to face less competition this spring buying season as second home demand dwindles.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay…
