Good Morning! Today is Tuesday, March 5. It’s Super Tuesday, and voters are turning out to cast their ballots in the presidential primary. The Supreme Court ruled that states lack the authority to reject presidential candidates on the grounds they engaged in insurrection against the U.S. Airlines JetBlue and Spirit called off their merger after regulators blocked it in court.
The Mortgage Note Reports
Nonstop Hustle: The CEO of Rapid Home Loans says to succeed in the current landscape, mortgage professionals need to know how to make the most of every opportunity.
Affordable Listings: The share of available homes in the $200,000 to $350,000 price range saw the biggest growth of any price category in February, up 20.6% YOY.
Worst…
Good Morning! Today is Monday, March 4. The Supreme Court is expected to rule today on Trump’s eligibility to hold office. Kamala Harris called for an immediate cease-fire in Gaza. Nikki Haley won the D.C. Republican primary, her first win. Tomorrow is Super Tuesday.
The Mortgage Note Reports
Broker War: Did UWM squeeze Fairway Independent Mortgage Corporation out of the wholesale business? Writer Jared Whitley has the story.
First-Timer Dominance: First-time homebuyers accounted for a record share of GSE purchase loans in 2023 at 55%, but originations overall sunk to new lows.
“Significant Pressures”: Net new listings are down more than 15% from last year, another pain point for the market ahead of the typically zippy spring buying season.
Sharing…
Good Morning! Today is Friday, March 1. A federal judge blocked a Texas law that would let state and local police expel migrants. Gazan officials said that Israeli forces opened fire at a crowd waiting for aid. Russian opposition leader Aleksei Navalny was buried in Moscow.
The Mortgage Note Reports
Buffalo Booming: In recent years, cities in warmer weather states have boasted the nation’s hottest housing markets but now the spotlight is on one of the snowiest places in the country. Writer Erin Flynn Jay has the story.
Buyers Sitting Out: Mortgage rates increased to a two-month high last week, putting pressure on hopeful spring homebuyers.
Lending Pain: Residential mortgage lending plummeted in Q4 2023, the tenth quarter of declines,…
Good Morning! Today is Thursday, February 29. Mitch McConnell will step down in November as the Senate Republican leader. The Supreme Court agreed to hear Trump’s claim that he is immune from prosecution, delaying his criminal case. Congressional leaders reached a deal on a short-term spending bill to avert a government shutdown.
The Mortgage Note Reports
UWM Releases Results: The CEO of United Wholesale Mortgage said 2023 wasn’t one of the company’s best years financially but they will continue to assert market dominance in 2024.
Buyers Sitting Out: Pending home sales fell by 4.9% month-over-month in January as rate-sensitive buyers skipped out despite increasing inventory.
Homeownership Highlighted: HUD commemorated Black History Month at its close by highlighting its impact on…
Good Morning! Today is Wednesday, February 28. More than 100,000 Michigan Democrats voted “uncommitted” in protest of Biden’s support of Israel. Four eye ointments sold at Walmart and CVS are being recalled due to risk of infection. People in Texas and Oklahoma were forced to evacuate due to wildfires.
The Mortgage Note Reports
Apps Down: Mortgage applications fell for another week as rates remained above 7% and high home prices kept buyers on the bench.
Home Rewards: Newrez announced a new incentive program offering homebuyers and sellers closing cost kickbacks and other concierge services.
In other mortgage and housing news…
Value Boost: The total value of U.S. homes jumped 5% to $47.5 trillion, the biggest gain in nearly a…
Good Morning! Today is Tuesday, February 27. Michigan is having its presidential primaries today. Biden said negotiators were close to a deal to release hostages held by Hamas in exchange for a temporary cease-fire. Sweden will join NATO after Hungary’s Parliament voted to accept it.
The Mortgage Note Reports
High Prices: Home prices rose month-over-month and YOY after seasonal adjustment in December, the seventh straight month to hit a record high.
New Home Sales: Buy Before You Sell fintech Knock is letting individuals invest in the company before it goes public or gets acquired.
Embracing Tech: The COO at Blue Sage Solutions says they have more prospects in their pipeline than ever before as lenders turn to technology. Editor Kimberley…
Good Morning! Today is Monday, February 26. The Supreme Court will hear arguments today in two cases on free speech. Ronna McDaniel, the leader of the Republican National Committee, will step down next week. Congress failed to pass legislation to keep the government funded past Friday and avoid a partial shutdown.
The Mortgage Note Reports
Besties Buying: They may not be your typical neighbors, but they could be moving next door soon: Friends who have carpooled their way into homeownership. Writer Chuck Green has the story.
Great Migration: Both taste and costs influenced interstate migration after the pandemic, but price moved people the most, with cheaper Southern states netting the most new residents.
New Home Sales: New home sales improved…
Good Morning! Today is Friday, February 23. Alabama health providers have halted I.V.F. after the state’s Supreme Court ruled that frozen embryos are children. The U.S. Supreme Court allowed the Boy Scouts of America to move forward with settling sex abuse lawsuits. The FCC is investigating after an AT&T outage interrupted cell service.
The Mortgage Note Reports
Saved By AI: After Rocket Companies reported their 2023 earnings, the CEO said they will achieve scaled growth and profitability through their AI-fueled homeownership strategy.
Rates Rise Again: Mortgage rates edged closer to 7%, averaging 6.90% last week, the result of strong economic and inflation data.
GSE Leadership: Fannie Mae appointed a new EVP and Chief Operating Officer, Morgan Stanley exec Peter Akwaboah.…
Good Morning! Today is Thursday, February 22. President Biden canceled another $1.2 billion in student debt for more than 150,000 borrowers. The head of Boeing’s 737 Max program is leaving the company after high-profile mechanical problems. Stocks in Japan rose to a record high.
The Mortgage Note Reports
Property Investment: Both fix-and-flip investors and rental property owners stand to make money this year, but their outlooks are vastly different. Writer Erin Flynn Jay finds out why.
Home Retention Option: FHA introduced a new offering to help struggling homeowners avoid foreclosure, the Payment Supplement.
Sales Up In January: Existing-home sales rebounded in January, increasing 3.1% from December, registering rate decreases that started late last year.
In other mortgage and housing news……
Good Morning! Today is Wednesday, February 21. President Biden will impose more sanctions on Russia in response to Alexei Navalny’s death. The U.S. voted against a U.N. resolution that would have called for an immediate cease-fire in Gaza. A girl died after a deep hole she and a boy were digging on a South Florida beach collapsed.
The Mortgage Note Reports
Disappointing News: Rates topped 7% last week and sent mortgage applications spiraling, sidelining homebuyers and forcing refis to a standstill.
Modernizing Mortgages: LoanCare revealed a new mobile app, My LoanCare Go, designed to simplify and modernize loan management.
In other mortgage and housing news…
Magic Number: Four out of 10 Americans looking to buy a home in the…
