Good Morning! Today is Wednesday, January 5. A snowstorm in Virginia left hundreds of drivers stranded for more than 24 hours. Chicago canceled school today amid a clash with teachers about remote schooling during the Omicron surge. Walmart and Kroger are raising prices for BinaxNOW at-home Covid tests after a White House deal to sell them at cost expired.
And in mortgage and housing news…
UWM Under Fire: United Wholesale Mortgage is under scrutiny from both state and county health officials in the wake of complaints about the company’s handling of Covid.
Loan Applications Down: Mortgage loan application volume dropped 2.7% from the week ending December 31, with refis down 2% as interest rates reached their highest point since April 2021.
Home Price Record: Annual home prices hit another record in November, climbing 18.1% YOY, according to CoreLogic’s Home Price Index.
Predictions For 2022: LendingTree’s 2022 expectations for housing and the economy predict home price inflation to temper, though rising interest rates and supply chain issues will still pose problems.
Freddie Appointments: Freddie Mac named Steve Lineberger and Meg McElgunn have been named vice presidents of Production & Sales.
Bringing In Ginnie: loanDepot announced it is bringing Ginnie Mae servicing in-house for optimal efficiency and customer service.
CA Build-To-Rents: Single-family build-to-rents are coming to Riverside County, CA, but some think they won’t do well in a state where low-density rentals are risky and costly.
Hottest Markets Of 2022: Zillow named Tampa its hottest housing market for 2022, followed by Jacksonville, Raleigh, San Antonio, and Charlotte as the Sun Belt dominates for another year.
Pandemic Impact: Older racial and ethnic minority-headed households, as well as renters, experienced the worst effects of the pandemic, according to Harvard’s Joint Center for Housing Studies.
NY Asks For Help: New York asked the federal government for $1 billion after running out of pandemic rent relief, but will only be receiving $27 million.
3d Print Your Home:Could 3d printing help solve the affordable housing crisis?