Morning Roundup (11/9/2021)– HPSI Flat, Forbearances Drop

Good Morning! Today is Tuesday, November 9. Four SpaceX astronauts returned to Earth after 200 days in orbit. The Justice Department charged a Russian man with conducting cyberattacks and recovered $6 million in ransom. A missing girl was recovered after a motorist noticed her using an emergency hand signal that has gained attention on TikTok.

And in mortgage and housing news…

HPSI Stays Flat: Consumers have mixed feelings about the housing market and are slightly more pessimistic about the economy overall, especially when it comes to their personal finances.

Forbearances Improve Again: The number of loans in forbearance dropped to 1 million as homeowners exited their plans, most entering modifications.

Inflation Fears Climb: Inflation fears rose for the 12th consecutive month as Americans expect inflation will be up 5.4% this time next year.

Rate Lock Volume Down: Rate locks dropped 23% in October, down almost 63% YOY, according to Black Knight’s latest Originations Market Monitor report.

Bowman Flags Economic Pressure: Federal Reserve Governor Michelle Bowman flagged economic and financial stability risks posed by the housing market, especially upward pressure on prices.

Redfin Calls Out Zillow Offers: After Zillow’s announcement that Zillow Offers will be closing, Redfin highlighted that its iBuying profits grew by more than 1000% in its Q3 earnings report.

“Pulling Every Lever”: New Zealand has one of the hottest housing markets in the world. Its government’s efforts to restrain rising prices could become a blueprint for other nations.

HAUS: Home prices were up 6.9% YOY last week, and the price of the most common U.S. home was $347,700.

Blend And Ocrolus Team Up: Bend and Ocrolus have partnered to embed Ocrolus’ Human-in-the-Loop document analysis solution in the Blend platform.

Three-Way Partnership: RealtyTrac and TKI partnered with nSkope to provide an AI service that will allow agents and investors to target home sellers.