Good Morning! Today is Friday, February 9. The FCC banned spam robocalls using AI voices. Two JetBlue planes collided on the tarmac at Boston’s Logan Airport. Biden called Israel’s military operations in Gaza “over the top.”
The Mortgage Note Reports
Little Rate Movement: Average rates stayed basically the same last week, inching up just slightly to 6.64%.
Looking Back At Q4: Rates at 20-year highs and other ongoing issues kept affordability near a decade-low in Q4 2023, constraining the housing market.
In other mortgage and housing news…
Upward Pressure: More than 85% of metros registered home price increases in Q4 2023 as the 30-year fixed rate dropped from 7.79% to 6.61%.
Scam Alert: The CFPB resolved an appeal in a…
Good Morning! Today is Thursday, February 8. Israel rejected a ceasefire plan from Hamas. Senate Republicans blocked a bipartisan border bill. The Supreme Court will hear arguments today about whether Trump can be president again in the face of his efforts to overturn the 2020 election.
The Mortgage Note Reports
Falling In Love: This Valentine’s Day, if you are ready to get off the sidelines and into the housing market, you are likely not alone in your quest to find a place you love. Editor Kimberley Haas has the story.
NC Discrimination: First National Bank of Pennsylvania will pay $13.5 million to settle redlining allegations raised by the DOJ and the State of North Carolina.
Sales Down: Though rates have…
Good Morning! Today is Wednesday, February 7. Nikki Haley lost to the option “None of These Candidates” in Nevada and Donald Trump wasn’t on the ballot. A federal appeals court said Trump is not immune from prosecution over his efforts to overturn the 2020 election. Hamas proposed a 135-day ceasefire with complete Israeli withdrawal.
The Mortgage Note Reports
One-On-One: The leader of an analytics business that provides technology for companies in the mortgage space says they are on a mission to set a new standard for data integrity and trusted automation. Steve Smith, CEO of BaseCap Analytics, sat down with Editor Kimberley Haas.
Positive Movement: Mortgage applications increased last week by 3.7%, countering a slip the week prior, as rates…
Good Morning! Today is Tuesday, February 6. Parts of Los Angeles are littered with debris after rain caused more than 120 mudslides. Britain’s King Charles III was diagnosed with cancer and will reduce his public appearances while he undergoes treatment. Country singer Toby Keith died yesterday at 62 after a battle with stomach cancer.
The Mortgage Note Reports
Website Redesign: Subservicer LoanCare has redesigned the website powered by its propriety software to be simpler and more consumer-focused.
Hecht At OneTrust: Former Newrez exec and industry veteran James Hecht has been named the new CEO of OneTrust Home Loans.
In other mortgage and housing news…
“Blatant” Discrimination: A federal appeals court blocked a controversial Florida law restricting Chinese citizens from buying…
Good Morning! Today is Monday, February 5. Hundreds of thousands of people are without power in California due to intense rain. Wildfires in Chile killed 112 with many people still missing. Boeing found a new problem with 737 Max fuselages that will require work on 50 jets.
The Mortgage Note Reports
Close To Home: A majority of Millennials and Gen Zers are settling down in their hometowns. Writer Chuck Green looks into why and how that might help real estate professionals.
Signs Of Life: Prices are soaring and affordability remains a struggle, but ICE says even as some metrics remain out of whack, they’re moving in the right direction.
VR Tours: Tech-minded buyers can tour homes in virtual reality on…
Good Morning! Today is Friday, February 2. The E.U. will create a $54 billion fund to support Ukraine’s economy. China and the U.S. are meeting to discuss restricting the flow of fentanyl into America. A pilot and two people on the ground died when a small plane crashed into a mobile home in Clearwater, FL.
The Mortgage Note Reports
Rates Down: Mortgage rates reversed a one-time uptick and fell last week to 6.63%, good news for buyers even though moderating rates have not translated to sales.
Refi 100: UWM launched a temporary program allowing its broker partners to offer discounts of 100 bps for conventional rate-and-term refinances.
In other mortgage and housing news…
Another Settlement: Keller Williams agreed to pay…
Good Morning! Today is Thursday, February 1. The House passed a bill that would expand the child tax credit while cutting taxes for corporations. John Podesta will replace John Kerry as Joe Biden’s global climate representative. Tennessee and Virginia sued the N.C.A.A. for blocking wealthy boosters who pay to attract college athletic recruits.
The Mortgage Note Reports
Under Pressure: Federal Reserve Board Chairman Jerome Powell responded to legislative pressure to lower rates due to their impact on the housing market as they held them steady at their meeting. Writer Patrick Lavery has the story.
Window Shopping: Home tours are up in January as buyers are enticed back to the market by stabilizing rates, but that interest has yet to turn…
Good Morning! Today is Wednesday, January 31. Illinois officials ruled that Donald Trump could appear on Republican primary ballots, rejecting an effort to disqualify him. A judge sided with shareholders who called Elon Musk’s $50 billion paycheck excessive. Tech company execs will testify before Congress today about children’s online safety.
The Mortgage Note Reports
Coming Together: A recent report shows that Baby Boomers with empty nests own double the amount of large homes compared to Millennials with kids. So what if Grandma and Grandpa moved into an accessory dwelling unit and the three generations lived together so everyone could have some space?
App Showdown: Purchase applications slipped, breaking a weeks-long upward trend and offsetting an increase in refinances as rates…
Good Morning! Today is Tuesday, January 30. The FOMC begins its first meeting of the new year today. The food shortage in Gaza is nearing a full-blown famine. UPS announced it will cut 12,000 jobs.
The Mortgage Note Reports
“All In” Suit: UWM is suing Atlantic Trust Mortgage Corp. for submitting loans to Rocket Mortgage or Fairway Independent Mortgage, an alleged breach of its controversial ultimatum.
Case-Shiller: Home prices slipped last November, breaking a nine-month streak of gains, down 0.2% from October but up 5.1% YOY.
Time To Make Deals: The CEO of a platform that provides cash flow based financing to real estate entrepreneurs says there are opportunities arising in the commercial and multifamily space.
In other mortgage and…
Good Morning! Today is Monday, January 29. Three U.S. soldiers were killed in Jordan in what officials claim was a drone attack backed by Iran. Ukraine accused a defense company of embezzling $40 million. A Hong Kong court ordered the liquidation of Chinese real estate developer Evergrande.
The Mortgage Note Reports
Predictions: It’s unlikely rate cuts will be announced when Federal Reserve Board Chairman Jerome Powell emerges from the FOMC meeting on Wednesday. Writer Patrick Lavery has the story.
Buying Power Up: Homebuyers, newly infused with extra spending power, are returning to the housing market as they come to terms with 6% rates.
HELOC Offering: Angel Oak Mortgage Solutions released a new HELOC for self-employed borrowers based on bank statements.…
