Good Morning! Today is Friday, January 5. One student was killed and five people were injured in an Iowa school shooting. ISIS claimed responsibility for an attack in Iran that killed 84 people. French retailer Carrefour will no longer sell PepsiCo products because of “unacceptable” price increases.
The Mortgage Note Reports
Embracing Technology: Artificial intelligence is changing how people buy homes and leaders at Rocket Companies are leaning in and embracing the latest technology. Editor Kimberley Haas sat down with Rocket Homes President Sam Vida to learn more.
New Addition: Rocket Companies named former Airbnb exec Jonathan Mildenhall as Chief Marketing Officer.
Rates Shift Slightly: Mortgage rates remained basically the same last week, increasing by 0.1%, as markets adjusted to economic expectations for 2024.
In other mortgage and housing news…
Year-End Layoffs: Pennymac Financial Services issued pink slips to 84 employees in November due to “challenging market conditions” in 2023.
Insurance Struggling: The homeowners insurance industry is facing a third year of underwriting losses, in part because of higher claims due to a rise in natural disasters.
“It’s Official”: NAR reported its first full-year membership dip since 2012 as the trade group weathered a tough market and major lawsuits.
Fraud Alert: A Missouri City, Texas, couple, one of whom worked for NASA, is accused of orchestrating a financing and refinancing mortgage loan scheme for a luxury home.
Not Just The U.S.: As housing shortages cause rents to surge in major European cities, residential housing investors are facing red tape and planning bottlenecks.