Morning Roundup (10/18/2022) – Price Growth Slows

Good Morning! Today is Tuesday, October 18. More than eight million people have applied for student debt forgiveness since applications opened yesterday. Flooding in Nigeria has displaced more than a million people and killed at least 600 others. 

Elizabeth Holmes, who was convicted on charges that she duped investors into believing her startup company had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood, has asked for a new trial after a witness visited her at home.

The Mortgage Note Reports

New Home Apps Down: New home mortgage applications dropped sharply in September, putting pressure on worried builders who are already making concessions.

Price Growth Slows: Q3 2022 brought the slowest quarterly price growth since 2011, showing just how quickly home prices are changing as the market rebalances.

What questions would you like us to ask the experts? Share your thoughts by emailing us at [email protected].

In other mortgage and housing news…

Sq Ftg Flip Flop: Square footage in suburban homes was worth more than in urban homes for the first time on record now that home prices are falling fastest in cities.

Earnings Time: BOA’s quarterly profit and revenue topped expectations on fixed-income trading and gains in interest income, thanks to choppy markets and rising rates.

Suisse PayoutCredit Suisse has agreed to pay $495 million as part of a settlement with the U.S. over a years-long dispute tied to mortgage-backed securities.

More Opportunity: Freddie Mac added positive monthly cash flow data to its underwriting system, giving lenders another avenue for determining borrower eligibility.

Exec Updates: has named Mausam Bhatt as its chief product officer, and Kristin Broadley has joined QC Ally as Chief Innovation Officer.

Investing In REITs: Now may not be the best moment to invest in REITs, but The Motley Fool’s Brent Nyitray says to keep an eye on these three firms down the road.