Good Morning! Today is Wednesday, January 31. Illinois officials ruled that Donald Trump could appear on Republican primary ballots, rejecting an effort to disqualify him. A judge sided with shareholders who called Elon Musk’s $50 billion paycheck excessive. Tech company execs will testify before Congress today about children’s online safety.
The Mortgage Note Reports
Coming Together: A recent report shows that Baby Boomers with empty nests own double the amount of large homes compared to Millennials with kids. So what if Grandma and Grandpa moved into an accessory dwelling unit and the three generations lived together so everyone could have some space?
App Showdown: Purchase applications slipped, breaking a weeks-long upward trend and offsetting an increase in refinances as rates hover in the mid-6’s.
ICE Vet At Dark Matter: Mortgage tech veteran Tony Fox has been named Chief of Client Engagement at Dark Matter Technologies.
In other mortgage and housing news…
FOMC Today: The Federal Reserve will likely hold interest rates steady for a fourth straight meeting but avoid signaling an imminent interest-rate cut.
“Missing Middle”: Check out Nashville’s plan to expand housing options for middle-class workers like nurses and teachers who can’t find a place to live.
Opportunity Zone: Nearly 3/4 of Baby Boomers (72%) use no resources designed to help people become homeowners or age in place.
Company News: Cenlar appointed a new VP and promoted several senior leaders; real estate icon Bob Hale is retiring after 52 years at the Houston Association of Realtors.
High-End Tastes: Luxury home prices rose at twice the pace of non-luxury at the end of 2023, partly because elevated rates are irrelevant to many affluent buyers.