Morning Roundup (10/6/2023) — Rates Jump

Good Morning! Today is Friday, October 6. There will be no newsletter on Monday. The Biden administration is expanding the wall along the U.S. and Mexico border, a project it once opposed. The IRS placed a lien on Rudy Giuliani’s Florida condo to cover $550,000 in owed taxes. The SEC sued Elon Musk to force him to testify about purchasing Twitter stock before he bought the company.


The Mortgage Note Reports

Rates Jump: Mortgage rates climbed again last week to 7.49%, following treasury yield gains in the wake of political turmoil and an unexpected jobs report spike.

Clever/HomeScout: Clever Pro and HomeScout have teamed up to provide cost-saving services to their clients.

In other mortgage and housing news…

“Shocking” Jobs Report: The US economy added a stunning 336,000 jobs in September, significantly more than Wall Street economists expected.

NAR Backtracks: In a “stunning admission of guilt” on the eve of a class action trial, NAR said listing brokers can now offer 0%.

Better In The Clear: A federal court in New York dismissed claims by a former executive that and its leadership violated labor and securities law.

Company News: NAF partnered with Matic Insurance and OneSource Solutions to offer insurance and home setup services as part of the mortgage process.

Rents Flattening: The median U.S. asking rent remained flat YOY for a sixth straight month as an increase in the number of rentals made it harder for landlords to boost prices.

“For Years To Come”: The pandemic’s effects will have long-lasting impacts on affordability, the number of homes available for sale, and people’s housing choices.