Good Morning! Today is Friday, June 3. Russian forces now occupy one-fifth of Ukraine’s territory. Ford Motor plans to invest billions in facilities in the Midwest, creating more than 6,000 union jobs. The Boston Celtics beat the Golden State Warriors, 120-108, in Game 1 of the N.B.A. Finals. The Mortgage Note Reports Suit Settled: United Wholesale Mortgage has ended one of its ongoing legal battles by paying $2.7 million to settle a lawsuit. Work From Home Debate: The CEO of a reverse mortgage company is claiming that Elon Musk’s message to Tesla employees unfairly bashes the benefits of remote work. Rates Hovering: Mortgage rates stayed relatively flat last week, falling just slightly to an average of 5.09% from 5.10%. Inventory Finally Increases: Inventory increased for the first time since June…
Good Morning! Today is Thursday, June 2. A man carrying a rifle and a handgun killed four people and wounded several others inside a medical office building in Tulsa. The U.S. will airlift baby formula from Europe. Doctors transplanted a 3-D printed ear made from human cells. The Mortgage Note Reports Foreclosure Bump: Zombie foreclosures rose 3% from Q1 to Q2 2022, the first increase in a year, as overall foreclosure activity jumped 13%. Apps Down: Mortgage loan application volume dropped another 2.3%, the fourth decrease in five weeks and the lowest level since December 2018. Most Popular: In May, our story on bidding wars in the rental market was the most popular story posted on social media. What topics would you like to see covered? Email Editor Kimberley Haas…
Good Morning! Today is Wednesday, June 1. The Supreme Court blocked a Texas law that would stop social media companies from removing posts based on the views they express. Israel and the United Arab Emirates signed a deal to remove tariffs on nearly all bilateral trade. Wildfires have burned more than 600,000 acres across New Mexico. The Mortgage Note Reports Home Price Gains: Home price appreciation continues to soar, with both the S&P CoreLogic Case-Shiller Indices and the FHFA HPI posting significant gains. Yanoti Rejoins AFR: Timothy J. Yanoti is returning to mortgage lender American Financial Resources as President and CFO. And in other mortgage and housing news… Biden, Powell Meet: Jerome Powell met with President Biden to discuss inflation, the plan for which Biden summed up as “respect the Fed.” Q1 Home…
Good Morning! Today is Tuesday, May 31. Canada is planning to ban handgun sales and the possession of assault weapons. The EU will ban most Russian oil imports by the end of the year. Shrapnel killed a 32-year-old French journalist in eastern Ukraine. The Mortgage Note Reports Women In Lending: Kicking off our Women In Lending series, editor Kimberley Haas sat down with three female leaders at Amrock who are encouraging other women to ignore the noise and believe in themselves as they climb the corporate ladder. Delinquencies Low: Commercial and multifamily delinquencies fell in Q1 2022, remaining low while these property types continue to sizzle on the market. And in other mortgage and housing news… Home Prices: FirstAm’s RHPI rose 32.5% YOY in March, the…
Good Morning! Today is Friday, May 27. There will be no Morning Roundup Monday as we observe Memorial Day. The Mortgage Note is thankful for those who made the ultimate sacrifice in the fight for our freedoms. The Mortgage Note Reports Rates Drop For A Second Week: Mortgage rates dropped for yet another week to an average of 5.10%, down from 5.25%. Pending Home Sales: Pending home sales fell for the sixth straight month, down 3.9% in April from the month prior and 9.1% YOY. In Case You Missed It: This week, Scott Kimbler reported on adjustable-rate mortgages and if they are making a comeback while Editor Kimberley Haas looked into bidding wars for rental properties. And in other mortgage and housing news… Home Construction: The 10 metros building…
Good Morning! Today is Thursday, May 26. The gunman who killed 19 children and two adults at Robb Elementary School got in despite armed security. Former Presidential and current Texas Gubernatorial Candidate Beto O’Rourke interrupted Gov. Greg Abbott during a press conference about the incident. The Mortgage Note Reports Opportunity Zones See Price Growth: Home prices rose in Opportunity Zones, with the pace of gains in Q1 2022 besting increases across the nation. Affordability Down: Homebuyer affordability decreased in April, with the national median payment applied for by applicants rising 8.8% to $1,889 from $1,736 in March. And in other mortgage and housing news… Disappointing GDP First-quarter GDP declined at a 1.5% annual pace, worse than the 1.3% Dow Jones estimate and a write-down from the initially reported…
Good Morning! Today is Wednesday, May 25. Nineteen children and two adults were murdered in Uvalde, Texas, yesterday by an 18-year-old gunman. At least three more children are in critical condition. The Mortgage Note Reports Apps Fall Further: Mortgage loan application volume dropped another 1.2% last week after plunging by 11% the week prior. Seller-Buyers On The Hunt: 72% of home sellers are also planning to buy their next property this year, and Millennials are the most active seller-buyers in the market (47%). And in other mortgage and housing news… Millennial Impact: Millennials are now the biggest demographic of homebuyers in the country– here’s how they’re impacting the housing market. New-Home Sales Plunge: New-home sales fell 16.6% in April from the revised March figures and were down 26.9% YOY, prompting…
Good Morning! Today is Tuesday, May 24. Ukraine has deployed the first American heavy artillery in battle. Starbucks will cease operations in Russia. A shipment of baby formula to ease a shortage arrived in the U.S. from Europe. The Mortgage Note Reports Bidding Wars For Rentals: Editor Kimberley Haas reports that as prices for rental housing continues to climb in many parts of the country, bidding wars are becoming more common. Financial Well-Being High: In Q4 2021, 78% of adults reported either doing okay or living comfortably financially, the highest level since at least 2013. Deichert Moves Up: Dr. Maggie Deichert has advanced to vice president of PD&R at DHA, Housing Solutions for North Texas. And in other mortgage and housing news… Top Renting Cities: Round Rock, Tx, and Raleigh, NC, were…
Good Morning! Today is Monday, May 23. Biden said the U.S. would defend Taiwan militarily if China invaded. Judges in Kyiv convicted a Russian soldier of war crimes and sentenced him to life in prison. A gunman killed a 48-year-old man on a subway train in NYC in an unprovoked attack. The Mortgage Note Reports Comeback For Adjustable-Rate Mortgages?: Writer Scott Kimbler reports on this growing trend as home prices and traditional mortgage rates continue to climb. Delinquencies Improve: The delinquency rate nationwide dropped to 2.80% in April, as overall delinquencies fell almost 40% YOY. Buyside Rebrand: Real estate seller leads provider Buyside gained $10 million in equity funding and is rebranding to ‘Percy’. And in other mortgage and housing news… Pay Raises: Bank of America announced it has raised its minimum…
Good Morning! Today is Friday, May 20. The S&P 500 fell 0.6%, coming close to bear-market territory. Biden met with the leaders of Finland and Sweden, pledging “strong support” for the countries’ bids to join NATO. The Senate unanimously passed a bill to expand what kind of baby formula Americans can buy with federal benefits. The Mortgage Note Reports Rates Fall: Mortgage rates dropped slightly to an average of 5.25% last week. Existing-Home Sales: Existing-home sales fell 2.4% to a seasonally adjusted annual rate of 5.61 million in April, the third consecutive month of declines. In Case You Missed It: This week, Chuck Green reported that commercial and office spaces are doing well, Tyrone Townsend took a look at the housing market, and Editor Kimberley Haas reported on a sexual harassment lawsuit involving…
