Morning Roundup (12/9/2022) – Rates Continue Falling

Good Morning! Today is Friday, December 9. Brittney Griner was freed in exchange for Viktor Bout, a Russian arms dealer. A bill protecting same-sex marriage rights cleared Congress after receiving bipartisan approval in the House. Federal regulators sued to block Microsoft’s $69 billion acquisition of the video game maker Activision Blizzard.

The Mortgage Note Reports

Rates Continue Falling: Mortgage interest rates slipped to 6.33% last week, marking the fourth consecutive week of declines.

Inventory Boost: The supply of homes for sale saw its largest uptick on record in the four weeks ending Dec. 4 as houses linger on the market.

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…

Producer Prices: The producer index, a measure of what companies get for their products in the pipeline, rose 0.3% for the month, dashing hopes of cooling inflation.

Equity Slips In Q3: Homeowners posted average annual equity gains of $34,300 in Q3, about half the year-over-year increase recorded in Q2.

Credit Loosens: Mortgage credit availability rose slightly in November, the first increase in nine months, spurred largely by a bump in ARMs programs.

Prepping For Recession: Nearly 8 in 10 adults believe the U.S. is near a recession or already there, while 58% may get a side job to supplement their income next year.

Union Home Hire: Union Home Mortgage announced the hiring of Kimberly Evers as Branch Manager for its Fayetteville, North Carolina, location.

Preparing For The Worst: Mortgage brokers in the U.K. are taking mental health training to support clients struggling to make their payments.