Morning Roundup (1/12/2024) — Rates Up, But Not By Much

Good Morning! Today is Friday, January 12. The U.S. and U.K. carried out strikes in Yemen, for which the Houthis promised to retaliate. Hunter Biden pleaded not guilty in federal court to charges of evading income tax. The FAA is increasing its oversight of Boeing’s production and manufacturing.


The Mortgage Note Reports

Rates Up, But Not Much: Mortgage rates increased slightly last week but remain in the mid-6s, encouraging some potential buyers to come off the sidelines.

The Case For HUD: HUD Secretary Marcia Fudge testified before the House Committee on Financial Services, emphasizing the department’s importance and impact.

In other mortgage and housing news…

UWM Rating: UWM was downgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating.

Worrying Into 2024: 7 in 10 Americans are nervous about their financial health in the new year, and 30% are worried they’ll struggle to pay their mortgage.

CPI, PPI: Consumer prices increased in December, defying analyst expectations, but producer prices shrank, suggesting inflation may cool in the coming months.

Rental Blues: Renters, who are just now getting relief from record-high prices, are feeling worse off financially than homeowners at the start of 2024.

What Buyers Want: Pools, hardwood floors, sunken tubs: a survey reveals what features Americans want most in a new home

Luxury Mindset: …while luxury buyers have their own set of preferences, driven by sustainability-minded design and construction choices.