Morning Roundup (12/19/2022) – Snowy Christmases Cost A Premium

Good Morning! Today is Monday, December 19. The Jan. 6 committee is expected to approve its final report and vote on issuing criminal and civil referrals against Donald Trump. Ukraine officials said Russia was training soldiers for a potential offensive. A winter storm could disrupt travel in parts of the U.S. ahead of the holiday weekend.

The Mortgage Note Reports

Seeking A Snowy Christmas: Americans may idolize a white Christmas, but owning a home in the nation’s snowiest states costs a premium compared to sunnier metros.

Mountain America x Blend: Mountain America Credit Union is offering home equity through cloud banking software Blend.

Homelessness Report Released: Homelessness has risen for individuals and people with disabilities who experience long-term homelessness, according to the 2022 Annual Homeless Assessment Report released on Monday by officials at the U.S. Department of Housing and Urban Development. Editor Kimberley Haas has the story.

TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.

How are you helping your community this holiday season? We want to know. Share your story by emailing us: [email protected]

In other mortgage and housing news…

Holiday Pains: A majority of surveyed Americans said they will cut back on holiday gifts and travel or take on credit card debt this holiday season because of financial stress.

A Full Year Of Decline: Builder confidence in the market for newly-built single-family homes posted its 12th straight monthly decline in December.

LIBOR’s Final Rule: The Fed adopted a final rule that implements the LIBOR Act by identifying benchmark rates based on SOFR that will replace LIBOR.

Builders Buying Time: Homebuilders are biding their time for now, but will likely ramp up production in a few months due to a backlog of orders accumulated in early 2022.

The Fight Is Paying Off: Larry Summers says the Fed is “broadly in the right place” on inflation and recession may not strike as soon as expected, but it will still hit hard.

UMortgage Acquires NXT: UMortgage will acquire brokerage firm NXT in a deal totaling more than $10 million in cash and equity.

Migration Patterns: The number of Americans looking for homes in a different metro remains on par with a record high set over the summer, and people still prefer the Sun Belt.