Morning Roundup (12/19/2024) – 25 BPS Cut

Good Morning! Today is Thursday, December 19. Donald Trump slammed the government funding bill, sending lawmakers scrambling. The Supreme Court agreed to hear TikTok’s challenge to a law that could ban the app. The Senate passed a bill denying transgender health care coverage for service members’ children.

The Mortgage Note Reports

Rates Cut: The Federal Reserve cuts rates for the third time this year but stocks dropped based on future predictions. Writer Patrick Lavery has the story.

“Shoddy” Servicing?: The CFPB says servicers push homeowners to take on debt or burden them with paperwork requests after divorce or the death of an original borrower.

Planet Leadership: Candice McNaught has joined Planet Home Lending as SVP of Business Development and Strategic Initiatives for the Distributed Retail channel.

New Podcast: Listen in and learn how Tavant is using generative AI to help lenders drive down origination costs while increasing borrower confidence.

In other mortgage and housing news…

GDP: The U.S. economy grew at a 3.1% annualized pace in the third quarter — stronger than previously thought.

Inventory Turnaround: Despite an increase in rates, leading indicators of sales point to a modest pickup in sales activity in November due to improving stock.

No End In Sight: Home affordability worsened again in Q4 as prices kept climbing…

Shelling Out More: …The national median payment applied for by purchase applicants increased to $2,133 from $2,127 in October.

Kids Make The Difference: Homeowners with kids are more likely to receive family help with down payments and/or monthly payments than their child-free counterparts.

Tis The Season: Americans are spending record amounts this holiday season. Here’s how December debt can impact your homebuying journey.