Good Morning! Today is Tuesday, April 5. Russia appears to be positioning troops for an intensified assault in the Donbas region. Senators announced a deal to spend $10 billion on Covid testing, vaccines, and treatments. Kansas won its fourth men’s N.C.A.A. championship with a 72-69 victory over North Carolina. The Mortgage Note Reports Disability Discrimination Alleged In Hawaii: Officials at the U.S. Department of Justice are claiming that condominiums and apartment complexes in Hawaii were built without accessible features required by the Fair Housing Act. Mortgage Monitor Report: Home prices rose 1.84% in February – nearly four times the 25-year average for the month – and the 14th month of greater than 1% growth. Inventory Lows: A record-low number of…
Good Morning! Today is Monday, April 4. Ukraine accused Russian forces of executing civilians in a Kyiv suburb before retreating. At least six people were killed after gunfire erupted in downtown Sacramento, California. Tesla CEO Elon Musk disclosed a 9% stake in Twitter. The Mortgage Note Reports Young Buyers Priced Out: The share of younger home buyers is declining after peaking in 2020, but is higher in more affordable metros. Geneva CCO: Kelly Singh has joined direct mortgage lender Geneva Financial as its Chief Compliance Officer. In Case You Missed It: People in the mortgage and real estate industries are speculating on whether 2022 will be a year of growth or the start of the end for a red-hot market…
Good Morning! Today is Friday, April 1. Russia’s defense ministry announced a cease-fire in Mariupol. The U.S. imposed new sanctions on Russian technology companies. The House passed a bill to limit the cost of insulin to $35 a month, sending it to the Senate. The Mortgage Note Reports Rates Rise: Mortgage rates jumped again to an average of 4.67%. Forbearances Up Slightly: Forbearances rose slightly again last week, though new plan starts dropped to 10,100, the lowest level in four months. And in other mortgage and housing news… Jobs Report: The unemployment rate fell to 3.6% in March, while payrolls saw big gains, according to Labor Department data. Listing In April: Homes listed for sale in the second half of…
Good Morning! Today is Thursday, March 31. The US is planning to lift an order that has restricted immigration for the past two years. Officials say Vladimir Putin’s subordinates have misled him about the Russian military’s struggles to avoid angering him. Google’s sister company Waymo is sending fully autonomous vehicles onto the streets of San Francisco. The Mortgage Note Reports Will The Housing Market Boom Or Bust? As the spring selling season begins, people in the mortgage and real estate industries are speculating on whether 2022 will be a year of growth or the start of the end for a red-hot market. Editor Kimberley Haas takes a deep dive into this topic. Flip Profits: Home flipping profits fell across the…
Good Morning! Today is Wednesday, March 30. US job openings totaled 11.3 million in February, barely budging from January. The F.D.A. authorized a second booster shot for anyone 50 or older. Russian missile strikes destroyed a government building in Mykolaiv, a port city in the south of Ukraine. The Mortgage Note Reports Home Prices In Perspective: Homes are less affordable than they were a year ago, but they largely remain more affordable than at the peak of the 2006 housing boom. Corcoran CIO: Jason Crawford has been appointed Chief Innovation Officer (CIO) of Corcoran Global Living, the company announced. And in other mortgage and housing news… Home Price Appreciation: The S&P Corelogic Case-Shiller Index shows home price appreciation up 19.2% in…
Good Morning! Today is Tuesday, March 29. Biden said he was expressing “moral outrage”, not policy, when he said Putin “cannot remain in power.” A federal judge concluded that Donald Trump most likely committed felonies by trying to overturn the 2020 election. Will Smith apologized to Chris Rock for slapping him at the Oscars. The Mortgage Note Reports Russia’s Attack On Ukraine Felt By Builders In America: Some experts say there will be ramifications in the home and commercial markets, Chuck Green reports. Budget Response: The Biden administration’s budget proposal includes big money for housing, which the CHLA says reaffirms the need to scrap its Life of Loan policy. Condo Explosion: Condo prices have hit a record high – up…
Good Morning! Today is Monday, March 28. The White House will propose a 20% minimum tax on households worth more than $100 million. Russian and Ukrainian delegations will hold another round of peace talks in Turkey. Troy Kotsur became the first deaf man to win an acting Oscar for his role in “CODA,” which also won Best Picture. The Mortgage Note Reports Debt And Inflation Impacting The Housing Market: The pandemic has driven many people deeper into credit card debt. That, along with rising interest rates and inadequate housing stock, is reducing the number of new mortgages, Gregory Bresiger reports. Consumer Sentiment: Consumer sentiment fell again in March, hitting its lowest level since August 2011 thanks to rising rates, war, and inflation.…
Good Morning! Today is Friday, March 25. The U.S. imposed new sanctions on more than 300 members of Russia’s Parliament. Some journalists have quit jobs at Russian state media outlets, citing regret for promoting lies about the war. Arizona Republicans passed a bill banning most abortions after 15 weeks of pregnancy. The Mortgage Note Reports Rates Rise: Mortgage rates continued their upward march this week, averaging 4.42%. Forbearances Up: Forbearance plans rose for a second week, pushed up by plan re-starts, though new plan starts remained steady. And in other mortgage and housing news… Affordability Down: Homebuyer affordability decreased in February, with the national median payment applied for by applicants jumping 8.3% to $1,653. “We’re Concerned”: Liz Shuler, president of…
Good Morning! Today is Thursday, March 24. Madeleine Albright has died of cancer at age 84. President Biden landed in Brussels for three back-to-back meetings with G7 leaders, NATO allies, and the European Union. The Mortgage Note Reports Biden-Harris Tackle Equity In Lending And Appraisals: Vice President Kamala Harris joined officials from the U.S. Department of Housing and Urban Development on Wednesday to announce the delivery of a plan aimed squarely at dismantling racial bias in the lending and appraisal process. New Home Sales: New home sales dropped in February for a second month, suggesting buyers are taking a step back thanks to high prices and rising mortgage rates. Housing Predictions: A panel of housing experts surveyed by Zillow said they don’t expect inventory or first-time…
Good Morning! Today is Wednesday, March 23. Russia extended a law banning criticism of the government, and a court sentenced the opposition leader Aleksei Navalny to nine more years in prison. At least one person died last night after a tornado in the New Orleans area damaged homes and knocked out power. The Mortgage Note Reports Digital Real Estate: What Is It And Who Is Interested? Millions of dollars are being spent on digital real estate as investors take their money to the land of the Metaverse and Tyrone Townsend is taking a look at this new virtual opportunity. Applications Down: Mortgage loan application volume plummeted by another 8.1% last week as interest rates rise. IMB Profits Down:IMBs and mortgage…
