Good Morning! Today is Friday, November 4. Donald Trump teased his plans to run for president in 2024 at an event in Iowa. The Cherokee Nation is calling on the U.S. to honor an 1835 treaty promising the tribe a nonvoting House seat. The Brooklyn Nets suspended Kyrie Irving indefinitely after he declined to say he had no antisemitic views. The Mortgage Note Reports Calm Before The Storm: Mortgage interest rates softened last week, falling back down to 6.95%, but choppier waters are ahead. WF Leadership Change: Kristy Fercho, head of Wells Fargo Home Lending and past MBA Chairwoman, has been named the bank’s new head of DSRI. ICYMI: This week, we had an interview with a VP of National Sales who talked about demanding clients, a…
Good Morning! Today is Wednesday, November 2. Chief Justice John Roberts temporarily blocked a House committee from gaining access to Trump’s tax returns. North Korea launched at least 23 missiles off its coasts, the most it has fired in a single day. The Fed is expected to raise rates by another 75 basis points. The Mortgage Note Reports I Love Demanding Clients: The new vice president of national sales at SingleSource Property Solutions says demanding clients are the ones who are communicating their needs and that leads to better business relationships. Editor Kimberley Haas has the story. Q&A: Orphe Divounguy, Senior Economist at Zillow, answered some questions about mortgage rates for us last week. See what he predicts for 2023. Prices Cool: Home price growth cooled again in September, increasing…
Good Morning! Today is Tuesday, November 1. Donald Trump asked the Supreme Court to block a House committee from seeing his tax returns. Kyiv lost running water for hours after Russian missiles struck city infrastructure. A judge blocked the merger between the publishers Penguin Random House and Simon & Schuster. The Mortgage Note Reports Homes Not Moving: Homes are still selling at a rapid pace but are remaining on the market longer than last year’s crazy pace as buyers retreat from the market. Rocket Rewards: Rocket Companies has rolled out a rewards program that allows consumers to get points towards various transactions across Rocket’s platforms. ICYMI: Our most popular article in October was by Writer Chuck Green. He reports that during the pandemic homebuyers fled to southern states for…
Good Morning! Today is Monday, October 31. Jair Bolsonaro, Brazil’s divisive far-right leader, lost his re-election bid to Leftist Leader Luiz Inácio Lula da Silva. The Supreme Court will hear arguments today on admissions policies at Harvard and at the University of North Carolina. A crowd surge killed more than 150 people including children and travelers during Halloween festivities in Seoul. The Mortgage Note Reports What’s Scaring Brokers?: This Halloween, brokers have more to fear than ghosts and ghouls. Layoffs, price declines, and rising interest rates are far more terrifying. MM CIO: Lyra Waggoner joined Movement Mortgage as its chief information officer. Have your political beliefs influenced where you have bought a home? We want to know. Share your stories by emailing us at [email protected]. In other mortgage…
Good Morning! Today is Friday, October 28. Elon Musk took charge of Twitter and fired at least four executives. Prosecutors and the SEC are investigating whether Tesla misled consumers and investors about its Autopilot system. A man was sentenced to more than seven years for dragging a police officer into a mob during the Capitol riot. The Mortgage Note Reports They’re Here: Average mortgage rates topped 7% for the first time in 20 years after hovering just under it for several weeks. LoanLogics Changes: Dave Parker is taking over as LoanLogics’ CEO in the wake of Bill Neville’s retirement, while Paul Vancheri is being promoted to president and COO. Sell As-Is: Leaders at an online marketplace that connects property investors to homeowners selling as-is say their platform gives…
Good Morning! Today is Thursday, October 27. A second woman said that Herschel Walker, the Republican Senate nominee in Georgia, paid for her to have an abortion. Senator Bob Menendez, a New Jersey Democrat, is again under federal investigation five years after he stood trial on bribery charges. The White House says it sees no current prospects for negotiations to end the war in Ukraine. The Mortgage Note Reports Bad News For Buyers: Affordability plunged in September as the typical monthly payment rose $102 in just one month, breaking a four-month streak of improvement. TMC Goes Non-QM: The Mortgage Calculator has entered the non-QM originations game and is now offering loans through a new entity, Mortgage Calculator Company LLC. Have your political beliefs influenced where you have bought…
Good Morning! Today is Wednesday, October 26. A Russian court upheld basketball player Brittney Griner’s sentence of nine years in a penal colony on drug smuggling charges. Google reported its fifth consecutive quarter of slowing sales growth as weakness in the economy continued to dampen online advertising spending. Authorities are “actively investigating” claims by an Iowa woman that her late father, Donald Dean Studey, was a prolific serial killer. The Mortgage Note Reports Apps And Rates: Mortgage loan application volume surprised no one with another week of declines as rates hit 7.16% in the 10th consecutive week of increases. New Residential Sales: New home sales fell in September, outperforming economists’ expectations but still sinking 10.8% from August and 17.6% YOY. Prison Time: A real estate developer has been sentenced…
Good Morning! Today is Tuesday, October 25. At 42, Rishi Sunak, Britain’s new prime minister, is the first person of color to serve in the role and the youngest prime minister in two centuries. A gunman killed a 16-year-old girl and a 61-year-old woman at a St. Louis high school. Kanye West’s talent agency dropped him after an antisemitic outburst. The Mortgage Note Reports Deal Off: During the pandemic homebuyers fled to southern states for warmer weather but now would-be purchasers are bailing out of deals at a faster clip than anywhere in the country. Writer Chuck Green has the story. FHFA Changes: The FHFA eliminated upfront fees for certain borrowers and approved two new credit models that will replace the Classic FICO. “Forceful Deceleration”: Home price appreciation continued to…
Good Morning! Today is Monday, October 24. Boris Johnson pulled out of the race to become Britain’s prime minister. Ethan Crumbley, 16, pleaded guilty to killing four students and wounding seven others at a Michigan high school last year. Florida has paid a contractor $950,000 for proposed flights moving more migrants north. The Mortgage Note Reports Opportunities Remain: Interest rates have dampened demand for mortgages, but a new study highlights consumers that offer prime opportunities for lenders. Wholesale SVP: Mike Mell has been named Senior Vice President of Freedom Mortgage’s Wholesale Division. What are your main concerns going into 2023? Share your thoughts by emailing us at [email protected]. In other mortgage and housing news… Price Growth Cooling: Affordability continued its rapid decline in August 2022 as real house prices rose…
Good Morning! Today is Friday, October 21. Courts rejected challenges to President Biden’s student debt forgiveness plan yesterday. Former U.K. Treasury Chief Rishi Sunak is leading the race to succeed Liz Truss as prime minister. A jury found Kevin Spacey not liable for battery in a civil case brought by the actor Anthony Rapp. The Mortgage Note Reports Rates Slow To A Crawl: Mortgage rates inched up to an average of 6.94% last week, slowing their climb as they get closer to a 7% average. Prepays Down: Prepayment activity dropped to a nearly 22-year low in September as interest rates hurdle closer to 7%. ICYMI: Editor Kimberley Haas interviewed Rocket Pro TPO’s Executive Vice President Austin Niemiec and Chuck Green wrote about zero-down payment, zero-closing cost mortgages. What are your main concerns going into…
