Morning Roundup (10/24/2023) — America’s Scariest Markets

Good Morning! Today is Tuesday, October 24. Israel continues to delay its ground invasion. Senator Robert Menendez (D-NJ) pleaded not guilty to a charge that he plotted to act as an agent of Egypt. Automobile markers expanded their strike to a Ram pickup truck plant in Michigan.

The Mortgage Note Reports

America’s Scariest Markets: Home shoppers have plenty to fear this Halloween, but where they live impacts how stressful their experience is.

Executive Returns: Kara Lamphere has returned to Click n’ Close, formerly Mid America Mortgage, as COO.

AI Assistant: Lendesk Technologies, part of Rocket Companies, has launched an AI assistant to help brokers in Canada.

Bye-Bye Bailouts: The director of the Consumer Financial Protection Bureau says it’s time to take big bank bailouts off the table. Editor Kimberley Haas has the story.

In other mortgage and housing news…

Airbnb Shake Up: A new law limiting Airbnb rentals in New York City is already changing the landscape for residents and tourists.

Old And Young: Both Gen Z and Americans over 65 are spending more than 30% of their income on housing costs as the market ravages renters regardless of age.

Serious Increase: The national delinquency rate rose 13 bps YOY in September, the second and largest annual increase in the past 2.5 years.

Backing Out: The number of homes under contract is rising, but the share of cancellations is also creeping up as buyers facing 8% rates change their minds.

Haunting The Right Home: A Zillow survey found that 4 in 10 prospective buyers could be convinced to buy a haunted house if it had the right features.