Good Morning! Today is Friday, November 10. Senator Joe Manchin (D-WV) won’t seek re-election next year. Government funding is once again set to lapse next week. The Vatican said transgender people could be baptized and become godparents.
The Mortgage Note Reports
Earnings Snapshot: Earnings for the third quarter of 2023 are out. Here’s a snapshot of how some of the nation’s top lenders fared during this difficult summer.
Rates Down: Mortgage rates sank by a quarter point, the largest single-week decline since last November, as treasury yields slipped.
Commercial Property: With vacancy levels at a 30-year high nationally, the city of Atlanta is holding its own as company leaders and commercial property owners there are rethinking the modern workplace. Writer Scott Kimbler has the story.
In other mortgage and housing news…
Home Price Spike: Single-family existing sales prices rose in 82% of metros in Q3, up from 58% in the previous quarter, with the median price up 2.2% YOY.
Better Move Fast: The housing market is loosening up as mortgage rates sink, but the window of opportunity to buy may be “narrow.”
Industry Feedback: The FHA is asking for industry feedback on a proposed update to its Home Equity Conversion Mortgage assignment claims eligibility policy.
More Layoffs At LD?: Still under pressure from market headwinds, loanDepot anticipates more layoffs in 2024, but on a smaller scale.
Pop Princess Property: Britney Spears‘ childhood home in Louisiana just hit the market.