Morning Roundup (12/18/2024) – Starts, Permits

Good Morning! Today is Wednesday, December 18. Donald Trump sued The Des Moines Register for publishing a pre-election poll that showed him behind Kamala Harris in Iowa. Congressional leaders unveiled a bill to would keep the government open into March. A grand jury indicted Luigi Mangione in the killing of UnitedHealthcare’s CEO.

The Mortgage Note Reports

Residential Construction: Housing starts fell to a four-month low as multi-family construction keeps contracting, but permits saw a 6% bump.

Apps Down: Mortgage applications reversed course last week as rates increased, breaking a multi-week streak of easing unaffordability.

In other mortgage and housing news…

Lender “Bubbles”: Here’s a look at housing bubbles now and leading up to 2008 through the lens of mortgage lender employment.

Loan Protection: The CFPB finalized a rule that applies existing residential mortgage protections to solar panel and other home improvement loans.

Big Win: Eastern Union has arranged the $24-million refinancing of a construction loan for a 57-unit, mixed-use building in Brooklyn’s Flatbush community.

Company News: Constructive Capital hired Megan Castleton as Chief Credit Officer; Jeff Raich joined Click n’ Close as a national sales director in correspondent lending.

Retail Media Ads: RE/MAX Holdings, Motto Mortgage’s parent company, launched real estate’s first commerce media network, offering programmatic advertising deals.

So Much Space: American homeowners have more extra bedrooms than ever as houses increase in size and families shrink.