Good Morning! Today is Tuesday, January 10. Biden’s lawyers discovered classified documents in his former office in November. America’s carbon emissions inched up last year, even as renewable energy surpassed coal power. Football player Damar Hamlin, the Buffalo Bills safety who collapsed during a game last week, was released from intensive care.
The Mortgage Note Reports
New Lows: Rate lock volumes took a beating in December as continuing affordability problems and elevated rates exacerbated typical seasonal patterns.
“Swift And Unprecedented”: Multifamily saw a stunning reversal in 2022 as apartment supply outstripped demand, especially in pandemic hotspots.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.
In other mortgage and housing news…
Thousands Of Layoffs: Goldman Sachs will begin laying off 3,200 employees across the firm, largely in its investment arm.
Term Changes: Scotsman Guide has announced that “hard money” will now be referred to as “private money” throughout its catalog of products.
Investors Optimistic: 70% of real estate investors said they plan to invest in 2023 despite dwindling inventory and high rates, having seen their business grow last year.
Court Rejects Suits: The Supreme Court declined to hear investors’ arguments that Fannie and Freddie owed them dividends on money that went to the U.S. Treasury.
Rocket Restructure…: Rocket’s central marketing team announced a restructuring in the first week of 2023, resulting in about 20 job cuts.
…And Rollout: Rocket will be providing credit reports at no cost for brokers when closing loans, a strategy to attract more lenders.
New Is Better: Boca Raton, FL, is the best city for finding new apartments, along with other Sun Belt destinations that have doubled down on construction.