Good Morning! Today is Friday, January 20. Abortion opponents are holding an annual march in Washington, DC today. Google’s parent company, Alphabet, says it’s planning to cut 12,000 jobs. Alec Baldwin will be charged with involuntary manslaughter in the ‘Rust’ shooting.
The Mortgage Note Reports
Rates Keep Tumbling: The 30-year fixed rate slipped to 6.15% last week— its lowest point since last September — as inflation continued to moderate.
Sales Slip Again: Existing-home sales dropped for the eleventh straight month in December, down 1.5% from November and 34% YOY.
Automated Valuations: A new automated valuation model that recently hit the market uses a national property database, geospatial comparable data, and artificial intelligence to help users evaluate properties. Editor Kimberley Haas has the story.
Fighting Discrimination: A new proposed rule meeting President Biden’s call to fully enforce the Fair Housing Act was announced by officials at the U.S. Department of Housing and Urban Development on Thursday.
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.
Listen To Our Podcast: This podcast highlights the successes and innovations taking place in the mortgage industry.
In other mortgage and housing news…
Inflation’s Impact: The majority of Americans say they’re worried that inflation will impact their ability to pay their bills, with 40% specifically concerned about their mortgage.
Sale Prices Up: The median U.S. home-sale price rose 0.9% YOY to $350,250 during the four weeks ending January 15 due to increasing buyer demand.
Better Days Ahead: “There is still time to pivot, salvage what’s left, and develop a path forward” as the market corrects, MonitorBase CEO Louis Zitting argues.
Debt Limit Reached: The US hit the debt ceiling set by Congress on Thursday, forcing the Treasury Department to start taking “extraordinary measures” to avoid a default.
FHFA Changes: The FHFA made changes to the GSE single-family pricing framework, including redesigned upfront fee matrices for both purchases and refis.
Lower/Opendoor: Online real estate platform Opendoor has made “mortgage as a service” lender Lower.com its exclusive mortgage fulfillment partner.
“Bland” In Every City: Does multifamily design matter during a housing crisis?