Morning Roundup (5/25/2022) – Apps Fall, Sellers Also Looking To Buy

Good Morning! Today is Wednesday, May 25. Nineteen children and two adults were murdered in Uvalde, Texas, yesterday by an 18-year-old gunman. At least three more children are in critical condition. The Mortgage Note Reports Apps Fall Further: Mortgage loan application volume dropped another 1.2% last week after plunging by 11% the week prior. Seller-Buyers On The Hunt: 72% of home sellers are also planning to buy their next property this year, and Millennials are the most active seller-buyers in the market (47%). And in other mortgage and housing news… Millennial Impact: Millennials are now the biggest demographic of homebuyers in the country– here’s how they’re impacting the housing market. New-Home Sales Plunge: New-home sales fell 16.6% in April from the revised March figures and were down 26.9% YOY, prompting…

Morning Roundup (5/24/2022) – Rental Bidding Wars, Americans Report High Financial Well-Being

Good Morning! Today is Tuesday, May 24. Ukraine has deployed the first American heavy artillery in battle. Starbucks will cease operations in Russia. A shipment of baby formula to ease a shortage arrived in the U.S. from Europe. The Mortgage Note Reports Bidding Wars For Rentals: Editor Kimberley Haas reports that as prices for rental housing continues to climb in many parts of the country, bidding wars are becoming more common. Financial Well-Being High: In Q4 2021, 78% of adults reported either doing okay or living comfortably financially, the highest level since at least 2013. Deichert Moves Up: Dr. Maggie Deichert has advanced to vice president of PD&R at DHA, Housing Solutions for North Texas. And in other mortgage and housing news… Top Renting Cities: Round Rock, Tx, and Raleigh, NC, were…

Morning Roundup (5/23/2022) – ARM Comeback

Good Morning! Today is Monday, May 23. Biden said the U.S. would defend Taiwan militarily if China invaded. Judges in Kyiv convicted a Russian soldier of war crimes and sentenced him to life in prison. A gunman killed a 48-year-old man on a subway train in NYC in an unprovoked attack.  The Mortgage Note Reports Comeback For Adjustable-Rate Mortgages?: Writer Scott Kimbler reports on this growing trend as home prices and traditional mortgage rates continue to climb. Delinquencies Improve: The delinquency rate nationwide dropped to 2.80% in April, as overall delinquencies fell almost 40% YOY. Buyside Rebrand: Real estate seller leads provider Buyside gained $10 million in equity funding and is rebranding to ‘Percy’. And in other mortgage and housing news… Pay Raises: Bank of America announced it has raised its minimum…

Morning Roundup (5/20/2022) – Interest Rates And Existing-Home Sales Down

Good Morning! Today is Friday, May 20. The S&P 500 fell 0.6%, coming close to bear-market territory. Biden met with the leaders of Finland and Sweden, pledging “strong support” for the countries’ bids to join NATO. The Senate unanimously passed a bill to expand what kind of baby formula Americans can buy with federal benefits. The Mortgage Note Reports Rates Fall: Mortgage rates dropped slightly to an average of 5.25% last week. Existing-Home Sales: Existing-home sales fell 2.4% to a seasonally adjusted annual rate of 5.61 million in April, the third consecutive month of declines. In Case You Missed It: This week, Chuck Green reported that commercial and office spaces are doing well, Tyrone Townsend took a look at the housing market, and Editor Kimberley Haas reported on a sexual harassment lawsuit involving…

Morning Roundup (5/19/2022) – Signs Of A Cooling Market

Good Morning! Today is Thursday, May 19. The CDC advised Americans in the Northeast to wear masks indoors. Hospitalizations in the U.S. have risen more than 25 percent in the past two weeks. President Biden invoked the Defense Production Act to bolster supplies of baby formula. The Mortgage Note Reports Signs Of A Cooling Market: Writer Tyrone Townsend explains what is driving housing market trends as the spring selling season continues. Changing Expectations: Fannie Mae has downwardly revised its full-year 2022 real GDP expectations, along with anticipated home sales and mortgage originations. Cherry Creek CRO: Rick Hogle has joined Cherry Creek Mortgage as its CRO. And in other mortgage and housing news… Competition High As Ever: Home values continue to grow at a record pace, pushing the typical monthly mortgage payment…

Morning Roundup (5/18/2022) – Settlement Secured, Loan Apps Plunge

Good Morning! Today is Wednesday, May 18. Negotiators on both sides of the war in Ukraine say peace talks have collapsed. The White House will send Americans eight more at-home tests, through covidtests.gov. The shortage of baby formula has hospitalized two children who can’t absorb nutrients properly. The Mortgage Note Reports Settlement Secured: An agreement to resolve a lawsuit against a landlord who allegedly entered the apartments of female tenants and touched them without consent has been reached. Editor Kimberley Haas reports. Loan Apps Plunge: After ticking up 2% the week prior, mortgage loan application volume tanked by 11% last week despite a decline in rates. Builder Confidence: Builder confidence fell 8 points in May as the market shows signs of cooling with the fifth month of declines and the lowest reading…

Morning Roundup (5/17/2022) – Commercial Real Estate, Fraud Risks

Good Morning! Today is Tuesday, May 17. The gunman who killed 10 people in Buffalo was able to buy an assault-style weapon despite having been held for a mental health evaluation last year. Ukraine began evacuating its fighters from Mariupol, a sign that Russia had won control of the city. The Biden administration lifted some sanctions on Cuba, including expanding flights. The Mortgage Note Reports Commercial Real Estate: Writer Chuck Green reports that commercial and industrial spaces are doing well. Even retail is making a comeback. Fraud Alert: Ten of the 15 metros with the highest fraud risk saw an increase compared to last quarter, while a majority of U.S. firms said that the pandemic increased application fraud across channels, not just for online and mobile systems. Forbearance Volume…

Morning Roundup (5/16/2022) – IC22, BSI Hires

Good Morning! Today is Monday, May 16. Ten people were killed in a racially motivated mass shooting at a Buffalo, NY supermarket on Saturday. Six people were shot and one died in a shooting at a Laguna Woods, CA church. John Fetterman, a leading Democratic candidate for Senate in Pennsylvania, had a stroke and is recovering. The Mortgage Note Reports IC22 Announced: Fannie Mae has committed $5 million to its 2022 Sustainable Communities Innovation Challenge and is seeking proposals that help advance racial equity in housing. BSI Hires: BSI Financial Services has hired Sean McGowan as chief people officer and Shannon Clay as senior vice president of investor reporting. And in other mortgage and housing news… Biden’s Action Plan: Today the Biden administration plans to unveil an…

Morning Roundup (5/13/2022) – Eco-Friendly Homes, Rates Rise Again

Good Morning! Today is Friday, May 13. The baby formula shortage is wreaking havoc on parents who don’t know if their child is getting enough to eat. Senator Rand Paul delayed a bipartisan effort to send $40 billion in aid to Ukraine. Cryptocurrency prices collapsed this week. The Mortgage Note Reports Eco-Friendly Homes: Guild Mortgage has partnered with The Home Depot to help buyers bundle the cost of new energy-efficient appliances into their home loan. Editor Kimberley Haas reports. Rates Up: Mortgage rates averaged 5.30% last week, and Freddie’s Sam Khater said they expect monetary policy and inflation to discourage many consumers moving forward. Gordon Confirmed: In a narrow victory decided by a tie-breaking vote, Julia Gordon has been confirmed as Assistant Secretary of HUD and Commissioner of the FHA. And in other…

Morning Roundup (5/12/2022) – American Equity Shoots Up In Q1 2022

Good Morning! Today is Thursday, May 12. Food prices have increased 17 months in a row. The E.U. again failed to agree on an embargo of Russian oil. Senate Republicans blocked a Democratic bill to protect abortion rights. The Mortgage Note Reports Equity Shoots Up: Just under half of all mortgaged residential properties were equity-rich in Q1 2022, up to 44.9% from 41.9% in Q4 2021 and 31.9% in Q1 2021. Commercial/Multifamily: Commercial and multifamily mortgage loan originations rose 72% YOY in Q1, but were down 39% from Q4 2021 due to seasonality trends. Do you like our newsletter? If you do, send this email to a friend so they can go to our website and sign up to get it, too. And in other mortgage and housing news… Consumer Prices: Annual…