Good Morning! Today is Wednesday, October 19. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, donated more than $84 million to the Girl Scouts. Netflix added 2.4 million subscribers in the past three months, reversing declines from the previous two quarters. Putin signed a law introducing martial law in four Ukrainian regions the Kremlin has sought to annex, in violation of international law.
The Mortgage Note Reports
No Surprises With Loan Apps: Mortgage loan application volume has now declined for four months and fallen to its lowest level since 1997.
Freddie Promotions: Freddie Mac Multifamily has promoted two new underwriting vice presidents, Caitlin Myhre and Adam Monti.
One On One: Editor Kimberley Haas interviewed Austin Niemiec, Executive Vice President at Rocket Pro TPO, after he turned heads with an opinion piece claiming United Wholesale Mortgage represents a massive threat to America’s mortgage brokers and their future independence.
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…
Housing Starts: Housing construction declined in September and permit applications for single-family dwellings fell, evidence that mortgage rates are discouraging new builds.
Price Declines Stall: The typical U.S. home value stayed steady from August, halting declines in previous months, though home prices are still up 44% from 2019.
FHA Proposal: The FHA proposed a rule to increase loan limits for manufactured homes as part of its efforts to promote them as an option for homebuyers.
Buyers And Sellers, Both: Home sales and listings saw their largest YOY declines on record in September, excluding the first few months of the pandemic.
“Meaningful Options”: One broker says the mortgage industry should quit moaning about the downturn and instead offer solutions to bring buyers back to the market.
Housing Outlook: Housing market potential sagged to its lowest point since May 2020 in September, but buyers can still take advantage of cooling prices.
Crypto Sales Roofstock, a digital real estate platform, sold a single family home in South Carolina for $175,000 using the USDC stablecoin, a cryptocurrency.