Morning Roundup (10/18/2021)– New Listings Down, Home Prices To Rise In 2022

Good Morning! Today is Monday, October 18. An FDA advisory panel recommended booster shots for recipients of the J&J vaccine. Gang members in Haiti kidnapped as many as 17 missionaries and their families. Former Secretary of State Colin Powell has died.

And in mortgage and housing news… 

September New Listings Down: New listings fell 9% year-over-year, while closed home sales fell 5%.

Predicting The Future: Fannie Mae’s ESR group said it expects mortgage rates and home prices to rise in 2022.

Originations Set To Break Records: Purchase mortgage originations are expected to grow 9% to a new record of $1.73 trillion in 2022, according to the MBA.

Housing Permits Up: Residential single-family housing permits are up by more than 25% year-over-year through August.

SRE Layoffs: SRE Mortgage Alliance Inc. is closing its wholesale lending department and laying off all lending staff, citing “financial shortfalls due to the low mortgage volume”.

Mortgage Costs Outpace Rents: Monthly mortgage costs rose faster than rents last month, up 15% year-over-year compared to 11% for rents.

CFPB Has Eyes On Landlords: The CFPB may focus its attention on landlords as eviction moratoriums expire.

New ChainLogix VP: Jeryl Graham is joining ChainLogix Mortgage Solutions as vice president of operations.

FAFC Potential Home Sales: FAFC’s Potential Home Sales Model showed no direct correlation between house price growth and increased market potential.

JPMorgan: JPMorgan Chase committed $8.4 million to improve stability for underserved households.