Good Morning! Today is Friday, January 26. The U.N.’s top court will rule on South Africa’s case against Israel today. The U.S. and Britain imposed new sanctions on Houthi leaders in Yemen. Alabama became the first state to execute someone with nitrogen gas.
The Mortgage Note Reports
Where To Invest: Will real estate or the stock market perform better this year? Writer Chuck Green set out to answer that question.
Rates Tick Up: Mortgage rates inched up but remained within the mid-6% range, a welcome moment of stability after a rollercoaster year.
Pending Sales: December pending home sales saw their biggest increase since 2020, proving that buyers are jumping at the opportunity to lock in sub-7% rates.
In other mortgage and housing news…
PCE: The Fed’s preferred inflation gauge fell below 3% for the first time since 2021.
Affordability Win: Mortgage application payments decreased by 3.8% to $2,055 in December, the second consecutive month of improvement.
Unlicensed Lending: Online lender LoanSnap is in trouble with Connecticut officials for allegedly employing unlicensed individuals who acted as LOs.
AIME Finds New CEO: Jonathon Haddad will take over AIME as chair and CEO in the wake of Katie Sweeney’s departure.
More News: RCLCO published a book on real estate strategy; non-QM lender A&D Mortgage has obtained licenses to originate loans in Arkansas and Mississippi; Maine’s Supreme Court reversed precedent in a foreclosure loophole case.
“Slower Than Usual”: Severe cold and dangerous weather are keeping even winter-loving potential buyers home, stalling housing markets.