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 year. Writer Erin Flynn Jay has the story.
In other mortgage and housing news…
GDP: The U.S. economy grew at a 3.3% pace in Q4, much better than expected.
Sounding The Alarm: Real estate entrepreneur Larry McDonald called the CRE market a “slow-moving train wreck” and warned that $700 billion could default.
“Home Hardening”: Americans who own 40+-year-old homes and can’t afford improvements are focusing on simple updates to weather storms and climate events.
Company News: AnnieMac unveiled a new logo; non-QM veteran Samuel Bjelac returned to Carrington Mortgage Services.
Winter Wonderland: In the mood for winter weather? The snowiest counties in America are in Alaska, New Hampshire, and California.