Good Morning! Today is Monday, January 29. Three U.S. soldiers were killed in Jordan in what officials claim was a drone attack backed by Iran. Ukraine accused a defense company of embezzling $40 million. A Hong Kong court ordered the liquidation of Chinese real estate developer Evergrande.
The Mortgage Note Reports
Predictions: It’s unlikely rate cuts will be announced when Federal Reserve Board Chairman Jerome Powell emerges from the FOMC meeting on Wednesday. Writer Patrick Lavery has the story.
Buying Power Up: Homebuyers, newly infused with extra spending power, are returning to the housing market as they come to terms with 6% rates.
HELOC Offering: Angel Oak Mortgage Solutions released a new HELOC for self-employed borrowers based on bank statements.
In other mortgage and housing news…
Warren Attacks Fed: U.S. Senator Elizabeth Warren expressed alarm at “astronomical” rates and urged the Central Bank to start cutting borrowing costs.
Watchdog Alert: The HUD OIG says the department has struggled to identify and prevent “improper payments” related to its programs for 11 consecutive years.
Mapping The Problem: Zoning maps are powerful tools for reform on a local level, but can a national zoning atlas solve the US housing crisis?
“A Surprisingly Temperate Market”: The housing market’s sudden, miraculous ‘Return to Normal,’ explained.
TLC Needed: Americans, many of whom are turning to fixer-uppers in order to afford a home, can find diamonds in the rough abundantly in these cities.