Good Morning! Today is Friday, December 16. The House passed legislation that could let Puerto Rico become a state, but it’s unlikely to pass the Senate. A grand jury indicted five Louisiana officers in connection with the deadly 2019 arrest of Ronald Greene, a Black driver. Twitter suspended the accounts of about half a dozen journalists, some of whom have written critical stories about Elon Musk. The Mortgage Note Reports Monetary Policy: With the Federal Reserve raising interest rates seven times this year – with more rate hikes on the way in 2023 – people are wondering if their policies to cool inflation are unfairly punishing those in the housing market. Editor Kimberley Haas has the story. Rates Down Again: Mortgage interest rates dipped modestly…
Good Morning! Today is Thursday, December 15. The House passed a bill to temporarily avert a government shutdown and push back the deadline for a longer-term spending bill. Peru declared a state of emergency to quell deadly protests that began after the president was removed from power last week. New Zealand banned cigarette sales to everyone born after 2008. The Mortgage Note Reports Allegations: The attorney general of Pennsylvania, who won the race for governor in November, announced on Wednesday that he is suing a Florida-based brokerage firm and its founder, saying the company scammed consumers. Editor Kimberley Haas has the story. Flipping ROI Sinks: Home flippers are feeling the sting of the housing market correction, seeing flips fall for a second quarter as profit…
Good Morning! Today is Wednesday, December 14. Elon Musk stopped paying rent on some of Twitter’s offices and disbanded a content moderation council to cut costs. President Biden signed a bipartisan bill protecting same-sex marriage rights. Tornadoes hit Texas, Oklahoma, and Louisiana, part of a winter storm sweeping the country. The Mortgage Note Reports Data As Oxygen: The CEO of an advanced analytics company says the latest version of their platform includes a new reporting tool that can help lenders and servicers navigate the current market. Editor Kimberley Haas sat down with Augie Del Rio, co-founder of Gallus Insights. Loans Rebound: Mortgage loan application volume rebounded last week, breaking a weeks-long streak of declines, with both refis and purchase loans seeing a boost. UMortgage Hire: Todd Bitter has joined…
Good Morning! Today is Tuesday, December 13. The Supreme Court declined to block California’s ban on flavored tobacco. Scientists have made a potentially significant breakthrough in nuclear fusion, which could change energy’s future. Hundreds of migrants crossed the U.S.-Mexico border on Sunday night, one of the largest single crossings in years. The Mortgage Note Reports ICYMI: The housing market traditionally cools during the holiday season as people focus on family and friends but industry leaders say it is a good time for potential sellers and buyers to weigh their options. Editor Kimberley Haas has the story. Accurate x Mortgage Cadence: Accurate Group and Mortgage Cadence have joined forces to offer end-to-end digital mortgage technology. Company News: Brian Ralston has been promoted to EVP, Chief Mortgage Banking Officer at…
Good Morning! Today is Monday, December 12. Ninety flights have been canceled across the U.S. as a winter storm pummels Northern states. The Fed is set to slow the pace of interest rate increases. NASA’s Artemis splashed down off the coast of Baja California in Mexico. The Mortgage Note Reports Selling To Pet Parents: Most pet owners are willing to forgo their dream home if it doesn’t suit their furry friends, and prioritize their animals’ needs as much as their own. Rate Locks Down: Purchase locks fell 22% in November despite 30-year rates dropping 48 bps over the course of the month. 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. How…
Good Morning! Today is Friday, December 9. Brittney Griner was freed in exchange for Viktor Bout, a Russian arms dealer. A bill protecting same-sex marriage rights cleared Congress after receiving bipartisan approval in the House. Federal regulators sued to block Microsoft’s $69 billion acquisition of the video game maker Activision Blizzard. The Mortgage Note Reports Rates Continue Falling: Mortgage interest rates slipped to 6.33% last week, marking the fourth consecutive week of declines. Inventory Boost: The supply of homes for sale saw its largest uptick on record in the four weeks ending Dec. 4 as houses linger on the market. 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. How…
Good Morning! Today is Thursday, December 8. Russian artillery hit a market in eastern Ukraine, killing at least 10 people. A search team found at least two classified documents among Donald Trump’s possessions. Two women are suing Apple, accusing it of failing to introduce effective safeguards to prevent stalkers from using AirTags. The Mortgage Note Reports Holiday Housing Market: Experts say the holidays, which are typically slow for the housing market, are a great time for Americans to weigh their options. Editor Kimberley Haas lays out what buyers and sellers need to know. Foreclosures Peaking: November foreclosure activity was up from the same time last year but slipped 5% from October, remaining lower than pre-pandemic levels. Fairway Goes For First-Timers: Fairway Independent Mortgage is offering first-time homebuyers…
Good Morning! Today is Wednesday, December 7. China said it would ease Covid restrictions, a victory for protesters. Senator Raphael Warnock defeated Herschel Walker in Georgia’s runoff. The Trump Organization was convicted of tax fraud and other crimes. The Mortgage Note Reports Loan Apps Slip Again: Purchase applications declined again last week, while average loan size fell to its lowest point since January 2021. Focus On Sellers: The Keyes Company is partnering with presale renovation company Revive to help sellers boost the value of their homes before listing. 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. How are you helping your community this holiday season? We want to know. Share your story…
Good Morning! Today is Tuesday, December 6. The Biden administration said more than 100,000 Haitian migrants could stay in the U.S. for at least 18 months. Putin signed a law banning the public expression of L.G.B.T.Q. identity in Russia. Kirstie Alley, known for her role as Rebecca Howe in “Cheers,” died at 71 of cancer. The Mortgage Note Reports Wall Street South: A number of financial companies have relocated their offices to West Palm Beach in Florida. Editor Kimberley Haas interviewed the woman behind “Wall Street South.” Appreciation Halved: Home price appreciation is now half of what it was in April, its lowest recorded point since early 2021. Pylon Rakes It In: Mortgage-as-a-service provider Pylon has raised $8.5 million in seed funding for the development of its embedded mortgage…
Good Morning! Today is Monday, December 5. Donald Trump called for a “termination” of the Constitution, drawing bipartisan criticism. Europe and the United States started enforcing a price cap intended to limit Russia’s oil income. Gunfire at two substations knocked out power for tens of thousands of people in North Carolina. The Mortgage Note Reports Underwater Risk Rising: Black Knight found that 8% of homes bought in 2022 are now at least marginally underwater, and FHA/VA loan holders are especially at risk. ICYMI: Last week, Writer Chuck Green explained why the housing market is expected to cool this month and into next year. Editor Kimberley Haas wrote that leaders at Big Purple Dot and CoreLogic have come together to launch a platform that provides detailed production data on loan officers…
