Morning Roundup (5/11/2022) – Loan Applications, Active Listings

Good Morning! Today is Wednesday, April 11. Pentagon officials will testify about U.F.O.s before a House panel next week, the first such hearing in more than 50 years. The House passed $40 billion more in aid for Ukraine, totaling about $53 billion over two months. Biden called bringing down inflation his “top domestic priority.” The Mortgage Note Reports Loan Applications Up: Mortgage loan application volume rose by 2% last week even as rates rose to their highest point since 2009. Another Glimmer Of Hope For Homebuyers: Active listings were down only 12.2% in April, their smallest YOY decline since December 2019 and a possible sign that inventory may rebound. And in other mortgage and housing news… US Delinquencies: US mortgage delinquencies were down 2.5% YOY in February, falling to a…

Morning Roundup (5/10/2022) – Bank Merger Framework Discussed, Glimmer Of Hope For Homebuyers

Good Morning! Today is Tuesday, May 10. Indonesian sailors seized cocaine valued at $82 million after finding plastic packages of drugs floating at sea. Russia fired three hypersonic missiles at Odesa as part of their attack on the Black Sea port city. Quarterback Tom Brady will join Fox Sports as its lead NFL analyst after he finishes playing football. The Mortgage Note Reports Bank Mergers: The Acting Comptroller of the Currency says there is a need to update the framework used to analyze bank merger applications. Glimmer Of Hope: There are pockets of the country where more homes are being listed than there were before the housing market exploded in 2020. And in other mortgage and housing news… Housing Bubble: The ongoing housing boom has more people concerned about a…

Morning Roundup (5/9/2022)– Consumer Sentiment Down, Refi Closing Costs

Good Morning! Today is Monday, May 9. Today is Victory Day, a holiday in Russia that has become a celebration of military might. Jill Biden made an unannounced visit to western Ukraine and met with the nation’s First Lady. A shortage of baby formula in the U.S. is causing some retailers to limit how much customers can buy. The Mortgage Note Reports Sentiment Down: Consumers across the country continue to report difficult homebuying conditions, Editor Kimberley Haas writes. OriginPoint Hire: John Stewart is joining OriginPoint as its new EVP of National Sales. Refi Closing Costs: The national average closing costs for a refinance in 2021 were up $88 from 2020 but were still less than 1% of the average refinance loan amount. And in other mortgage and housing news… NAR…

Morning Roundup (5/6/2022)– Interest Rates Up, Asking Prices Down

Good Morning! Today is Friday, May 6. The U.S. provided intelligence that helped Ukraine sink the flagship of Russia’s Black Sea fleet. The FDA further limited the use of Johnson & Johnson’s vaccine. Karine Jean-Pierre will become the first Black woman and first openly gay person to serve as White House press secretary. The Mortgage Note Reports Rates Back Up: Mortgage rates shot back up after a one-week reversal of their upward trend, averaging 5.29% last week. Asking Prices: In April, 15% of home sellers dropped their asking prices, a 5.9% YOY increase that coincides with monthly mortgage payments rising 42% YOY. In Case You Missed It: This week, Editor Kimberley Haas reported that the CEO of United Wholesale Mortgage has come under fire after posting online that he is “disappointed” with…

Morning Roundup (5/5/2022)– Spring Seller’s Market, Applications Up

Good Morning! Today is Thursday, May 5. New England’s three Republican governors said they would protect abortion rights in their states regardless of the Supreme Court’s decision. The Russian bombing of a Mariupol theater in March killed about 600 people. A growing number of people have tested positive for Covid after the White House Correspondents Dinner. The Mortgage Note Reports Applications Tick Up: Mortgage loan application volume rose by 2.5% last week, good news at the start of a so-far slow spring buying season. Spring Selling: Selling a home in May, June, or July brings premiums of 10% or more above market value, as colder months see significantly lower profits for sellers. And in other mortgage and housing news… 50 Point Hike: The Fed raised its benchmark interest rate…

Morning Roundup (5/4/2022)– Building Wealth By Maintaining Your Home

Good Morning! Today is Wednesday, May 4. J.D. Vance won the Ohio Senate Republican primary. The Supreme Court said the leaked draft striking down Roe v. Wade was authentic but not final. The EU proposed a total ban on Russian oil. The Mortgage Note Reports Maintain Your Home, Build Wealth: An app that helps homeowners maintain their property inside and out has been developed by Consumer Reports and leaders there say this could potentially increase value during the sale process. Editor Kimberley Haas reports. Home Price Growth: More metro areas saw double-digit YOY increases in their median single-family existing-home sales price in Q1 2022 than in Q4 2021. Migration Trends: More home shoppers are searching for houses outside their current metros in Q1 2022 as remote work…

Morning Roundup (5/3/2022)– Price Growth Record, Xactus CTO

Good Morning! Today is Tuesday, May 3. A leaked draft of a decision shows the Supreme Court is primed to overturn Roe v. Wade. Russia may try to annex the Donetsk and Luhansk regions through sham elections, U.S. officials said. Amazon workers at a Staten Island warehouse voted against joining a union, a setback for labor organizing efforts. The Mortgage Note Reports Price Growth Record: Home prices rose by 20.9% YOY in March, setting another record and marking the 122nd consecutive month of YOY home price increases nationally. Xactus CTO: James Owens has joined Xactus, a verification company, as Chief Technology Officer. Follow Us On Social Media: The Mortgage Note is on Facebook and Twitter. And in other mortgage and housing news… Black Knight: Home prices rose 3% in March, the fifth time…

Morning Roundup (5/2/2022)– UWM/Rocket Feud Reignited

Good Morning! Today is Monday, May 2. House Speaker Nancy Pelosi made an unannounced visit to Kyiv this weekend. Coronavirus outbreaks in Beijing and Shanghai are battering the Chinese economy. A dinosaur skeleton that inspired the raptors in “Jurassic Park” is up for auction. The Mortgage Note Reports Industry Feud Reignited: The CEO of United Wholesale Mortgage has come under fire after posting online that he is “disappointed” with Rocket Mortgage’s decision to offer buyouts to members of its workforce. FOMC Meeting Causing Stock Turbulence: U.S. stock indexes saw losses ahead of this week’s FOMC meeting, where analysts expect to see a 50-point rate hike. AMDC Appointment: CBC Mortgage Agency’s Tai Christensen has been named chair of the American Mortgage Diversity Council. And in other mortgage and housing news… Redfin Settlement: Redfin…

Morning Roundup (4/29/2022)– Rates Fall, Forbearances Steady

Good Morning! Today is Friday, April 29. Russian missiles struck Kyiv. President Biden asked Congress for an additional $33 billion to aid Ukraine, which would more than triple U.S. spending on the war. The F.D.A. plans to ban sales of menthol cigarettes. The Mortgage Note Reports Rates Fall Back: Mortgage rates declined for the first time after a weeks-long upward streak, averaging 5% last week. Forbearances Steady: In its last weekly report, Black Knight found forbearances largely holding steady in a “typical” pattern for the end of the month. In Case You Missed It: This week, Chuck Green reported on whether there is a brewing housing bubble while Editor Kimberley Haas wrote about how leaders at Rocket Mortgage are working to end the digital divide in Detroit and that a shortage of…

Morning Roundup (4/26/2022)– Mortgage Applications Drop

Good Morning! Today is Thursday, April 28. New York State’s highest court threw out Democratic-drawn legislative maps as partisan gerrymanders. American and European officials say they are worried the war could escalate beyond Ukraine. The Mortgage Note Reports Applications Drop: Mortgage loan application volume plummeted by 8.3% last week, with overall application activity dropping to its lowest level since 2018. St. Mary’s Board: St. Mary’s Bank has elected Stephen Grzywacz as chairman and Elizabeth Hitchcock as vice-chairman. Do You Like Our Newsletter? Then share this email with a friend so they can go to our website and sign up to receive it every weekday, too! And in other mortgage and housing news… NAHB Asks For Action: Members of NAHB sent a letter calling on the White House to take action on the…