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…
Good Morning! Today is Friday, December 2. The Biden administration will give three Native tribes $75 million to move away from areas with high climate risk. The Senate passed a bill to avert a nationwide rail strike. Elon Musk suspended Kanye West from Twitter after he posted an image of a swastika. The Mortgage Note Reports Potential Prison Time: Two Kentucky real estate professionals who allegedly conspired to rig bids for farmland and timber rights each face up to 10 years in prison and a $1 million fine. Editor Kimberley Haas has the story. Guild Swoops In: “Growth-oriented” Guild Mortgage announced it is acquiring Inlanta Mortgage just after the Wisconsin-based lender said it would close next year. Rates Cool Again: Mortgage rates fell again last week, giving…
Good Morning! Today is Thursday, December 1. Prince William and Kate arrived in Boston yesterday. Fortunes from an 1857 shipwreck off the coast of South Carolina will be up for auction Saturday. In Brooklyn, NY, a mother and her four children were run over at a school bus stop by a driver trying to escape the police. The Mortgage Note Reports Recruit The Right People: Leaders at Big Purple Dot and CoreLogic have come together to launch a platform that provides detailed production data on loan officers and a service to help lending companies in their recruiting efforts. Editor Kimberley Haas has the story. Lenders Expand: Despite the slew of closings and layoffs, some mortgage lenders continue to expand as the market cools. Pending Sales: Pending home sales…
Good Morning! Today is Wednesday, November 30. The leader of the Oath Keepers militia and one of his subordinates were convicted of seditious conspiracy for plotting to keep Donald Trump in power. The Senate passed a bill mandating federal recognition for same-sex marriages. At least four tornadoes and 2-inch hail impacted parts of Mississippi, Louisiana, and Alabama overnight. The Mortgage Note Reports Predictions: According to experts, not only is the housing market expected to continue cooling this year, the forecast remains chilly entering 2023. In 2024, things could turn around. Writer Chuck Green has the story. Loans Dwindle, Refis Sink: Mortgage loan application volume dipped last week, with refinances comprising just 26% of total activity, their lowest level since 2000. Ehms At Oakleaf: The Oakleaf Group announced that…
Good Morning! Today is Tuesday, November 29. Elon Musk accused Apple of threatening to pull Twitter from its App Store. President Biden urged Congress to intervene in a labor dispute between rail companies and union workers that may lead to a strike later this week. Green Sprouts recalled thousands of bottles and cups for toddlers over a possible risk of lead poisoning. The Mortgage Note Reports Grocery Stores Matter: Analysts say that being located near certain grocery stores can have an impact on a home’s value. Editor Kimberley Haas has the story. Appraisal Costs: Borrowers in a new survey said appraisal costs don’t matter to them at all when choosing a lender, focusing instead on their perception of the LO and the speed and quality…
Good Morning! Today is Monday, November 28. A deadly apartment fire sparked widespread protests in China over Covid restrictions. A small plane crashed into power lines in Maryland, injuring two people and knocking out electricity. Hawaii’s Mauna Loa, the world’s largest active volcano, is erupting for the first time since 1984. The Mortgage Note Reports Feeling Grateful: Industry leaders are sharing their thoughts as 2022 winds down and they are expressing gratitude despite challenges in the current market. Affordability Struggle: Real house prices jumped 10.5% in September and logged a 60.6% YOY increase, but many markets are starting to cool. Janczy Joins NewFed: Home Point veteran Jim Janczy has joined NewFed Mortgage as EVP-Chief Production Officer. TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction,…
