Morning Roundup (12/4/2024) – Applications Keep Increasing

Good Morning! Today is Wednesday, December 4. South Korea’s president is facing impeachment after he declared martial law, causing chaos. China banned exports of rare minerals to the U.S. Miami-Dade County renamed a street after Trump. 

The Mortgage Note Reports

Apps Up: Mortgage applications increased before and throughout Thanksgiving week as rates tempered and inventory improved.

West Coast Leader: Connie Lindsay has been named Rate’s new SVP of Mortgage Lending for the Washington market.

In other mortgage and housing news…

Prices Move Sideways: Home prices rose by 3.4% YOY in October, basically flat, and CoreLogic expects them to slow to 2.4% by the same time next year.

After Christmas: Realtor.com expects the median home-sale price to rise throughout 2025 and rates to stay above 6%, with a “Trump Bump” possible but not guaranteed.

“Where Are We Now?”: The Equal Credit Opportunity Act just entered its 51st year, providing an occasion to look back — and to look ahead.

Company News: West Capital Lending acquired Pennsylvania-based Red Tree Mortgage; PropStream added an “upside down” mortgage lead list; Calque promoted Chandra Srivastava to Chief Revenue Officer.

“Win-Win”: The affordable housing industry is rapidly evolving. Fast Company looks at some trends shaping its future.