Morning Roundup (11/17/2021)– Rent Prices Up 10% YOY, Auctions Prove Popular Alt Buying Option

Good Morning! Today is Wednesday, November 17. A violent clash erupted when migrants attempted to cross the border between Poland and Belarus yesterday. The House will vote today on censuring Paul Gosar, who tweeted a video depicting violence against President Biden. LA’s Staples Center will be renamed Arena.

And in mortgage and housing news…

Double-Digit Rent Growth: Rent prices rose 10.2.% YOY in September as growth remains at record highs, according to CoreLogic’s Single-Family Rent Index.

nCino Acquires SimpleNexus: Fintech nCino is expanding its mortgage market reach by acquiring SimpleNexus for $1.2 billion in stocks and cash.

Homes At Auction: More than 60% of US consumers would buy a home at auction, including 75% of Millennials, a ServiceLink survey found.

NAHB Housing Market Index :Builder confidence rose for the third consecutive month despite continuing supply and labor shortages.

Fannie, Freddie Backing $1M: Fannie and Freddie are set to back loans of nearly $1 million for the first time, as home prices continue climbing.

loanDepot Updates Mello Broker: loanDepot Wholesale has launched a new iteration of its mello broker portal that includes features for faster closings.

Guaranty Partners With Paradatec: Guaranty Home Mortgage Corporation is partnering with Paradatec to incorporate its AI-Cloud for document processing and indexing.

CFPB Asks For Input: The CFPB issued a request for information on rules intended to detect discrimination in mortgage lending.

FHFA FY2021: FHFA released its annual Accountability and Performance Report detailing FHFA’s activities in the 2021 fiscal year.

Fed Industrial Production Report: Industrial production rose 1.6% in October, recovering from last month’s 1.3% drop and beating expectations.