Good Morning! Today is Wednesday, January 3. Harvard’s president resigned after evidence surfaced that she plagiarized academic work. Donald Trump appealed a decision that barred him from Maine’s primary ballot. The U.S. said Israel killed a Hamas leader in Beirut.
The Mortgage Note Reports
Holiday Applications: Cooling rates couldn’t attract buyers to the market in the last two weeks of 2023, leading to a slump in mortgage applications.
Board Expansion: Rocket Companies expanded its Board of Directors to eight, introducing CEO Varun Krishna as a new member.
In other mortgage and housing news…
Bad Behavior: RealFi has been accused of failing to pay laid-off employees, apparently saying in an email that it doesn’t have the funds.
“A Great Danger”: Corporate landlords are investing where demand is increasing, which overlaps with places where Latinos are hoping to buy homes, pricing them out.
Silver Tsunami: A economist famous for predicting the 2008 crash says housing inventory should loosen up in 2024 as Boomers look to downsize.
Another Attack: Mortgage subservicer LoanCare said a November data breach impacted 1.3 million individuals, but did not notify anyone until a month later.
Thoughts On The Future: LendingTree thinks the U.S. may narrowly avoid recession in 2024, and predicts rates will fall to around 6% or even lower.