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.…
Good Morning! Today is Friday, January 26. The U.N.’s top court will rule on South Africa’s case against Israel today. The U.S. and Britain imposed new sanctions on Houthi leaders in Yemen. Alabama became the first state to execute someone with nitrogen gas.
The Mortgage Note Reports
Where To Invest: Will real estate or the stock market perform better this year? Writer Chuck Green set out to answer that question.
Rates Tick Up: Mortgage rates inched up but remained within the mid-6% range, a welcome moment of stability after a rollercoaster year.
Pending Sales: December pending home sales saw their biggest increase since 2020, proving that buyers are jumping at the opportunity to lock in sub-7% rates.
In other mortgage…
Good Morning! Today is Thursday, January 25. The chairman of Arizona’s Republican Party resigned after a recording appeared to show him attempting to bribe Kari Lake to drop a Senate bid. Russia accused Ukraine of shooting down a plane that it said was carrying prisoners of war.
The Mortgage Note Reports
Profits Start To Slip: Profits on home sales fell for the first time since 2011 despite price gains, with sellers making a $121,000 profit on the typical sale in 2023.
New Residential Sales: New home sales spiked in December as cooling rates encouraged purchase-shy buyers to make the leap.
Foreclosures Trending Up: Foreclosure numbers are up by double-digit numbers and industry leaders say they will continue to rise this…
Good Morning! Today is Wednesday, January 24. Donald Trump won New Hampshire with 55% of the vote, but with 43% Nikki Haley said the race is “far from over.” Biden won the Democratic primary despite not being on the ballot due to write-ins. Turkey’s Parliament approved Sweden’s bid to join NATO.
The Mortgage Note Reports
Commercial Properties: Some market experts are predicting a commercial real estate crash while others are saying there could be a revival in investment opportunities.
Applications Up: Mortgage applications rose 3.7%, the third week of increases, despite rates moving up slightly to 6.78%.
TD’s Promise: TD Bank will devote about $20 billion to philanthropy and serving diverse and minority communities, with a large chunk going to…
Good Morning! Today is Tuesday, January 23. The New Hampshire presidential primary is today, and Donald Trump is leading the polls. Israel said 24 soldiers were killed in Gaza yesterday, their biggest single-day losses yet. The country of Cameroon in Africa kicked off the world’s first malaria vaccine program for children.
The Mortgage Note Reports
To Buy Or Not To Buy: As more people consider jumping into the housing market, what do they need to know? Writer Nicole Murray set out to answer this question, talking to industry leaders and three people who recently purchased a home to get their opinions.
Think Outside The Box: Americans are getting creative to save money on a home, considering buying fixer-uppers or…
Good Morning! Today is Monday, January 22. Ron DeSantis dropped out of the presidential race and endorsed Donald Trump. Israel Prime Minister Benjamin Netanyahu rebuffed pressure from President Biden to create a Palestinian state. It is estimated that 90 Americans have died due to recent severe winter weather.
The Mortgage Note Reports
Women On Top: Single women own more homes than single men, and overall homeownership is now majority female.
Coggiola At Polly: ICE veteran Troy Coggiola has been named COO at capital markets tech provider Polly.
Opinion: Doubling down with more government subsidies for new apartments isn’t the answer to the housing shortage, senior fellows at the American Enterprise Institute say.
In other mortgage and housing news…
“Boardrooms…
Good Morning! Today is Friday, January 19. Donald Trump said that presidents should be immune from criminal charges for anything they do in office in a social media post. The Justice Department condemned a slow police response to the Uvalde school shooting. Macy’s announced plans to cut more than 2,000 jobs.
The Mortgage Note Reports
Rates Reverse Course: Mortgage rates fell to 6.60%, their lowest level since May 2023.
Sales Slump Again: Existing-home sales declined by 1% month-over-month and 6.2% YOY in December, hitting their lowest levels since 1995.
Remembered With Respect: David Stevens, who helped the country navigate the aftermath of the 2008 housing crisis before serving as president of the MBA, is being remembered in high regard …
Good Morning! Today is Thursday, January 18. Apple will remove a feature from its watches that detects blood oxygen levels. Google said it is cutting 100 jobs at YouTube. CNN canceled a debate, a day after ABC did the same, after both Donald Trump and Nikki Haley refused to participate.
The Mortgage Note Reports
Moving Forward: Motivated millennials and the power of technology will shape the mortgage market in 2024, according to industry leaders who gathered this week to reflect on 2023 and strategize for the year ahead.
Starts And Permits: Housing starts slipped in December, with single-family taking a hit, but permits suggest a wave of new inventory coming in 2024.
AIME CEO Changeup: Katie Sweeney is stepping…
