Good Morning! Today is Monday, January 17. It’s Martin Luther King Day, and markets are closed. Martin Luther King Jr.’s family will lead a march for voting rights today in DC as congressional Democrats vow to press ahead with legislation. The public can begin ordering free at-home rapid Covid-19 tests through a new government website on Wednesday. Four hostages at a Texas synagogue were freed on Saturday, and their captor killed.
And in mortgage and housing news…
No Longer A Nightmare on Elm Street: The house made famous by the 1984 horror movie “A Nightmare on Elm Street” has sold for nearly $3 million in Los Angeles after being on the market for less than three months.
C&M Delinquencies Fall: Delinquency rates for commercial and multifamily mortgages fell during Q4 2021, according to the MBA.
Affordability Down: Housing affordability fell slightly in November, according to NAR’s Housing Affordability Index.
Home Sales Fell In December: The stock shortage drove home sales down 3.6% in December, the largest month-over-month decline since May 2020, Redfin reported.
How Much Can You Get?: Realtor.com looked at how much the median home price, $375k, can actually get you in different areas of the country.
Retail Trade Sales: U.S. advance estimates of retail and foodservice sales for December 2021 fell after an early push of robust holiday spending.
Baltimore Mortgage Indictment: A federal grand jury indicted Baltimore’s top prosecutor on charges of perjury and making false mortgage applications in the purchase of two Florida vacation homes.
UK Housing: Fixing housing could help tackle other problems in Britain, from inequality to pollution, Sam Bowman argues in the Guardian.
The Office: Demand for office space ended on a high note in the second half of 2021, driven by office space absorption in secondary markets, according to NAR.