Morning Roundup (12/9/2024) – Refinance Timing

Good Morning! Today is Monday, December 9. South Korean President Yoon Suk Yeol has been banned from foreign travel over a failed attempt at imposing martial law. Israeli forces crossed the Syrian border and took control of a Syrian mountain. Notre-Dame Cathedral had its first public mass since its 2019 fire.

The Mortgage Note Reports

Refinance Timing: Homeowners sitting on the sidelines waiting for rates to go down before they refinance are wondering what they should do going into 2025. Writer Nicole Murray talked to industry leaders to see what the latest advice is.

Hurricane Relief: The FHA is extending its foreclosure moratoriums on FHA-insured homes in disaster zones for Hurricanes Helene and Milton.

Ginnie To Freddie: Former Ginnie Mae exec Sam Valverde has moved to Freddie Mac as its VP of mission and community engagement in its single-family acquisitions division.

In other mortgage and housing news…

Knocked Out: Sale-leaseback company EasyKnock, facing lawsuits and pushback around the country, is shutting down after being sued by Connecticut’s Attorney General.

Pave The Way: New York City’s council approved a plan including 80,000 new homes over the next 15 years, the most significant effort to address its housing crisis in decades.

Mortgage Monitor: More than 300,000 mortgage refinances closed in September and October, the most in 2.5 years, thanks to autumn’s rate cooldown.

Disaster Preparedness: HUD and FEMA announced an initiative to help states develop plans to boost their post-disaster housing capabilities.

Better Feelings: Consumer confidence about the housing market is up sharply from last year as Americans slowly acclimate to current market conditions.