Morning Roundup (11/22/2024) – New Options

Good Morning! Today is Friday, November 22. There will be no newsletter next week. We wish you and your loved ones a Happy Thanksgiving.

The Mortgage Note Reports

New Options: Rocket Mortgage has launched new 15- and 30-year home equity loan options and the EVP at Rocket Pro TPO says brokers can use them to help clients who need cash. Editor Kimberley Haas has the story.

Rates Move Up: Mortgage rates resumed their upward march last week after briefly stalling, averaging 6.84%

Earn While You Buy: Bilt Rewards partnered with eXp Realty to offer points on home purchases, one per every $2 of the home’s cost.

In other mortgage and housing news…

Be Careful: ACES reported another increase in the critical defect rate, suggesting lenders need to prioritize quality control as volume increases.

Insurance Relaxes: Home insurance premium growth seems to be stabilizing after breaking records in early 2024, though climate and regulatory risks remain.

State Of Rent: Rents fell by 0.8% to $1,720 in October, marking their fifteenth consecutive month of year-over-year declines and falling the most for smaller-sized units.

Presidential Pain: The housing market’s rut threatens to extend well into next year, challenging Trump’s plans to revive the ailing sector.

Company News: Kind Lending welcomed Jenn Stears as Branch Manager in Daytona Beach, FL; MeridianLink partnered with ScoreNavigator to enhance credit analysis.

Hope Against Hope: When could mortgage rates hit 5% again? Experts weigh in.