Good Morning! Today is Wednesday, October 5. Stocks rose yesterday for the second straight day. America’s gross national debt exceeded $31 trillion for the first time. Elon Musk proposed buying Twitter for the price he agreed to in April, after months of trying to back out of the deal.
The Mortgage Note Reports
Spooky Listing: A house for sale in New Hampshire has been viewed 268,982 times on Zillow and is getting national attention because it features photos of the fictional character Michael Myers from the “Holloween” series of slasher films. Editor Kimberley Haas has the story.
Apps Down Again: Mortgage loan application volume tumbled last week, falling to its slowest pace since 1997 as rates hit 6.75%, their highest point since 2006.
What do you think will happen in the housing market in 2023? Share your opinion by emailing us at [email protected].
In other mortgage and housing news…
“Taking A Bigger Toll”: Price drops were up 83.2% YOY in September as demand dies down, leading to a nearly 20% decrease in new listing volume.
JVM x Vellum: JVM Lending and Vellum Mortgage are teaming up to deliver more products, better rates, and better borrower experiences.
Rent Growth Tumbles: Multifamily saw a slow peak leasing season, and one report expects rent growth to slow even faster than initially projected by the end of the year.
Fidelity Co-Presidents: Fidelity National Financial announced that Ray Marine and Don DuBois have been named Co-Presidents of Western Operations.
New API Product: Optimal Blue released new API capabilities that automate data moving between mortgage brokers, PPE engines, and third-party integration partners.
HIMBY: Accessory dwelling units might just spell the end of the American suburb as we know it, but in the best possible way, M. Nolan Grey argues in the Atlantic.
Moving Abroad: A woman’s New York City apartment went up $1,100 a month in rent in one year, so she is headed to Europe to work remotely while waiting out the market.