Morning Roundup (12/20/2023) — Applications Fall

Good Morning! Today is Wednesday, December 20. Donald Trump was disqualified from Colorado’s presidential primary ballot. The Senate will adjourn this week without a deal on immigration and aid for Ukraine. El Paso County sued Texas over a law that allows police to arrest migrants crossing from Mexico.

The Mortgage Note Reports

Apps Fall: Mortgage applications slipped as the initial excitement of falling rates wore off and buyers once again looked skeptically at the market.

Sales Spark: Existing-home sales increased for the first time in five months as falling rates made homebuying more affordable.

Value Of Realtors: The full impacts of legal actions being taken against the National Association of Realtors are still not clear, but industry leaders are advocating for agents, saying they offer valuable expertise.

In other mortgage and housing news…

“Home Is Where The Heart Is”: A new survey found that 57% of Millennials and Gen Zers live in their hometowns, and 47% of those who don’t would consider moving back.

Housing Assistance Fail: Rents have surged and homelessness is at record heights, but fewer of the poorest tenants are getting housing assistance.

Company News: loanDepot’s mellohome launched partnerships for solar installation, home Improvement, and maintenance services; RegCheck integrated with MerdianLink.

Call To Action: MISMO called for industry pros to join a development work group focused on fee modernization and standardization.

Backyard Fix: How the ADU revolution will change the U.S. housing market.