Good Morning! Today is Tuesday, March 8. Ukrainians defended two crucial cities yesterday, shooting down three Russian fighter jets over Kyiv and preventing troops from entering Mykolaiv, on the Black Sea coast. Florida will recommend that healthy children not get a vaccine, contradicting the C.D.C. The Mortgage Note Reports Working With Professionals In Person Is Important When Buying Property: The CEO of Comey & Shepherd in Cincinnati says there is something to be said for working with realtors and mortgage lenders in person at a time when it seems like more and more of the home buying process can be done from a cell phone. Big City Glow Up: Gen Z is reviving urban hotspots assumed to be dying out …
Good Morning! Today is Monday, March 7. Ukrainian resistance stalled Russian forces this weekend, driving them from the port city of Mykolaiv. This morning, Russia launched an artillery barrage there. Tornadoes in Iowa killed seven people and destroyed dozens of homes. The Mortgage Note Reports America’s Most Expensive Home Sets Record At Auction, New Owner Revealed: A Bel Air megamansion that was listed on the market for $295 million has been purchased at auction by the 40-year-old CEO of Fashion Nova. Fannie HPSI: Fannie Mae’s Home Purchase Sentiment Index rose this month despite consumers’ surly attitudes toward home prices and rising interest rates. loanDepot Promotion: Min Kim has been promoted to EVP, Marketing and Analytics at loanDepot. And in other…
Good Morning! Today is Friday, March 4. Russian troops have seized Europe’s largest nuclear power plant. Florida legislators voted to ban most abortions after 15 weeks. The Sackler family and Purdue Pharma reached a deal with states to settle thousands of opioid lawsuits. The Mortgage Note Reports Could Higher Interest Rates Actually HELP the Housing Market? That’s the theory of some economists who believe soaring housing prices are a bigger drag on the market than rising interest rates. Rates Dropping: Mortgage rates fell again last week, dropping to an average of 3.76% from 3.89%, Freddie Mac said. Originator Woes: Mortgage lending dropped at its fastest pace in almost three years in Q4 2021, down for the third quarter in a…
Good Morning! Today is Thursday, March 3. Russia has continued to attack major cities in Ukraine, creating a humanitarian crisis. The Jan. 6 committee said there was evidence to conclude that Donald Trump may have committed crimes to try to stay in office. Fitbit is recalling its Ionic smartwatch after reports of overheating batteries. The Mortgage Note Reports Loan Factory’s Nguyen Says UWM Ultimatum ‘Has Divided Our Community’: In a one-on-one interview with The Mortgage Note, Nguyen explains why he chose to stop doing business with Mat Ishbia’s company rather than agree to it’s ‘All In’ ultimatum. Weak App Activity: Mortgage loan application volume fell 0.7% last week, faring slightly better than the prior week’s 13.1% drop but continuing a trend…
Good Morning! Today is Wednesday, March 2. President Biden delivered a pro-democracy State of the Union speech that also touched on Covid-19 and his domestic agenda. At least 136 civilians and about 2,000 Russian soldiers have died in Ukraine. Major League Baseball postponed the start of the season because of a labor disagreement. The Mortgage Note Reports Hot Luxury Market: Demand for luxury housing rose 14.5% YOY in 2021 as the number of affluent individuals worldwide skyrocketed. NAHB HBGI: Single-family growth cooled in Q4 2021 while multifamily growth in high-density areas surged as apartment demand rises, according to NAHB’s HBGI. And in other mortgage and housing news… Labor Shortages: The construction industry needs 650,000 more workers to meet demand in 2022, according to an analysis…
Good Morning! Today is Tuesday, March 1. A convoy of Russian armed forces stretching approximately 40 miles is moving closer to Kyiv. California, Oregon, and Washington will stop requiring masks in schools. President Biden will deliver his State of the Union address tonight. The Mortgage Note Reports The ‘Rent vs. Own’ Debate Heats Up: With both home prices and rents rising at or near record levels, the debate over which makes the most fiscal sense is hotter than ever, these experts say. Broker Confidence Dips: Broker confidence fell for the second straight month in February, though brokers are “cautiously optimistic” about the future. CoreLogic HPI: CoreLogic’s Home Price Index found that home prices rose 19.1% YOY in January and 1.4%…
Good Morning! Today is Monday, February 28. Russia’s currency plummeted against the dollar due to sanctions imposed by the U.S. and its allies. More than 350 civilians have died since the invasion began. The Supreme Court will hear arguments in a dispute over the E.P.A.’s power to limit greenhouse gases. The Mortgage Note Reports UWM Teams Up Again With Scandal-Plagued Casa: Despite his misogynistic attacks on the wife of a competitor, it appears Anthony Casa is once again in Mat Ishbia’s fold with his new UMortgage business. Pending Home Sales: Pending home sales continued a three-month streak of declines in January, with contract signings down 5.7% to 109.5 in January and 9.5% YOY. NAREB Exec Named: C. Renee Wilson has…
Good Morning! Today is Friday, February 25. German Chancellor Olaf Scholz condemned Russia’s actions in Ukraine, stating that Europe “will not accept this violation of Ukraine’s sovereignty by Russia.” The United Kingdom banned civilian Russian aircraft from its airspace. The Mortgage Note Reports America’s MoneyLine CEO Fights Back: The CEO of California-based America’s MoneyLine is fighting back after being slapped with a $2.8 million lawsuit from lending giant United Wholesale Mortgage. Freddie Mac: Mortgage rates dropped last week after jumping to almost 4%, averaging just 3.89%.And in other mortgage and housing news… And in other mortgage and housing news… Jobless Claims: The number of Americans collecting unemployment benefits fell to a 52-year low after another decline in jobless aid applications…
Good Morning! Today is Thursday, February 24. Russian President Vladimir Putin announced a military operation in Ukraine. President Biden will address the nation with an update on the attacks at 12:30 p.m. The Mortgage Note Reports “Battling It Out”: A Redfin report found that 70% of homebuyers faced bidding wars in January, making it the most competitive month in Redfin’s data. Loan Applications Down: Mortgage loan application volume fell 13.1% last week to their lowest level since December 2019, MBA’s weekly survey shows. And in other mortgage and housing news… Seeking Comment: MISMO is seeking public comment on updates to Engineering Guideline 7 establishing class words that enable consistency in the naming and structure of data point names. Panel Market: …
Good Morning! Today is Wednesday, February 23. U.S. truckers plan to embark on a 2,500-mile cross-country drive to DC in protest of coronavirus restrictions. Germany put a stop to an $11 billion Russian natural gas pipeline that would link the two countries. The Supreme Court will hear a case from a web designer who objects to providing services for same-sex marriages. The Mortgage Note Reports Getting A Mortgage Online: Leaders at Bank of America say home loan applications initiated through their Digital Mortgage Experience accounted for 81% of total mortgage applications in 2021. That is up from 45% in 2020. FHFA HPI: Home price appreciation cooled slightly in Q4 2021, with prices rising 17.5% YOY and 3.3% from Q3 2021.…
