Good Morning! Today is Wednesday, October 5. Stocks rose yesterday for the second straight day. America’s gross national debt exceeded $31 trillion for the first time. Elon Musk proposed buying Twitter for the price he agreed to in April, after months of trying to back out of the deal. The Mortgage Note Reports Spooky Listing: A house for sale in New Hampshire has been viewed 268,982 times on Zillow and is getting national attention because it features photos of the fictional character Michael Myers from the “Holloween” series of slasher films. Editor Kimberley Haas has the story. Apps Down Again: Mortgage loan application volume tumbled last week, falling to its slowest pace since 1997 as rates hit 6.75%, their highest point since 2006. Anchor CRO: Anchor Loans has…
Good Morning! Today is Tuesday, October 4. President Biden pledged $60 million in storm aid to Puerto Rico. North Korea launched a missile over Japan, prompting the government to tell residents in two regions to seek shelter. Britain’s prime minister canceled a proposed tax cut for high earners that had caused the pound to crash. The Mortgage Note Reports Be Aware: Officials at the Federal Emergency Management Agency are warning survivors of Hurricane Ian they should be aware of con artists and criminals looking to take advantage of the situation. Editor Kimberley Haas explains what that means for homeowners. Gig Worker Options: Loosening GSE lending standards are making it easier than ever for gig workers to finance homes even as mortgage interest rates are rising. PennyMac Exec: PennyMac…
Good Morning! Today is Monday, October 3. A new Supreme Court term begins today. The oil producers of the OPEC+ convene on Wednesday to set output targets for November and they are considering a reduction of 1 million barrels a day. Ukrainian forces regained the key city of Lyman, which Putin had declared part of Russia. The Mortgage Note Reports Top Stories: Our numbers are in and the top performing articles for September included a rapper sentenced to prison for a multi-million dollar fraud scheme, bad behavior in lending, and robotic furniture making waves in the quest to solve the housing crisis. Black Knight: Home prices fell for a second consecutive month in August, with prices seeing the sharpest contractions in more than 13 years. Rocket Changes: Rocket’s CFO and General Counsel are…
Good Morning! Today is Friday, September 30. Hurricane Ian strengthened and is expected to make landfall in South Carolina today. Six Republican-led states sued to block Biden’s student loan forgiveness plan. Vladimir Putin is planning to declare that four regions in eastern and southern Ukraine are now part of Russia. The Mortgage Note Reports Rates Near 7%: Mortgage rates skyrocketed to 6.70% from 6.29% this week, adding pressure on homebuyers who are already struggling with high home prices. Fannie CEO: Priscilla Almodovar has been named Fannie Mae’s Chief Executive Officer and member of the Board of Directors. Settlement: Eight senior living facilities that are inaccessible to the disabled will be retrofitted as part of a settlement between officials at the U.S. Justice Department and a New Jersey architecture…
Good Morning! Today is Thursday, September 29. The US economy shrank by 0.6% in Q2, confirming two straight quarters of negative growth, one sign the country could be in recession. President Biden announced a plan to end hunger in America by 2030. Hurricane Ian continues moving north, leaving severe damage and flooding in its wake. The Mortgage Note Reports Sellers On Top: Most housing markets still favor sellers despite increasing buyer-friendliness, especially in more affordable markets in the South and Midwest. Pending Home Sales: Pending home sales fell for a third consecutive month in August, with three of the four major regions seeing month-over-month declines. What do you think will happen in the housing market in 2023? Share your opinion by emailing us at [email protected]. In…
Good Morning! Today is Wednesday, September 28. Hurricane Ian is expected to make landfall today in western Florida and is close to a Category Five storm. There are evacuation orders in place. Russia dispatched forces to stop men fleeing draft orders. The EU’s top diplomat said that pipeline leaks under the Baltic Sea were caused by a “deliberate act.” The Mortgage Note Reports Question And Answer: Editor Kimberley Haas sat down with Ed Austin, chief operating officer at SingleSource Property Solutions to learn more about their bundled services for lenders. In August, company leaders celebrated the 20-year anniversary of the launch of home equity service offerings. Rates Hit 6.5%: Mortgage loan application volume turned down again, wiping out gains from last week as mortgage rates breached…
Good Morning! Today is Tuesday, September 27. Hurricane Ian made landfall in Cuba early this morning and is expected to hit the Tampa area as it moves north. Major evacuations are taking place in Florida. Congress last night released a stopgap funding proposal intended to avert a government shutdown and provide $12 billion more in aid to Ukraine. Vladimir Putin granted Russian citizenship to Edward Snowden. The Mortgage Note Reports New Home Sales: New home sales rose in August to a seasonally adjusted annual rate of 685,000, up 28.8% from July’s revised rate but down 0.1%% YOY. Growth Decelerates: Home price appreciation cooled some in July though growth remained elevated from a year earlier. What do you think will happen in the housing market in 2023?…
Good Morning! Today is Monday, September 26. Global markets tumbled this morning, and the pound fell to a record low against the dollar. Instead of rebounding, stocks have continued to fall, burning investors who stepped in to buy shares on sale. A NASA spacecraft is set to collide with an asteroid today, testing a technique to protect Earth. The Mortgage Note Reports Look At The Numbers: Adjacent cities grew during the pandemic as people fled New York, Los Angeles, and other major metropolitan areas. Writer Chuck Green has the story. AG CEO: T.J. Durkin has been named CEO of AG Mortgage Investment, and other leadership changes have been made as David Roberts moves towards retirement. August First Look: Delinquencies fell in August to 2.79%, just 4…
Good Morning! Today is Friday, September 23. Iran state television is reporting that at least 26 are dead due to the protests taking place over a woman’s right to choose what clothing she will wear, including the mandatory hijab. Fox News is reporting Americans have lost $4,200 in income under President Biden. Russia has started orchestrating and staged voting in occupied Ukraine territories. The Mortgage Note Reports Rates Shoot Up: Mortgage rates jumped by a quarter point this week in the wake of another 75-point rate hike from the Central Bank, up from 6.02% to 6.29%. Input Wanted: The Consumer Financial Protection Bureau wants the public to weigh in on ways to improve the mortgage process for homeowners who would benefit from refinancing. Share your…
Good Morning! Today is Thursday, September 22. The Fed raised interest rates another 75 points and signaled more increases to come. Rising rates could lead to more unemployment and slower economic growth. New York’s attorney general is suing Trump, three of his children, and their family business, accusing them of “staggering” fraud. The Mortgage Note Reports Luxury Takes A Hit: Luxury home sales tanked by 28.1% YOY, the biggest drop since 2012, as high-end buyers wait to see if they can score a better deal in a market downturn. Co-Buying Your Dream Home: As first-time buyers struggle to find an affordable home, many Millennials are willing to co-buy in order to access bigger mortgages. Wells Fargo Downsizing: Leadership at Wells Fargo has laid off employees in a move…
