Morning Roundup (2/10/2022)– Labor Market Uncertainty, Second Home Demand Remains High

Good Morning! Today is Thursday, February 10. Chuck Schumer and Nancy Pelosi suggested that they were open to banning members of Congress from trading stocks. Officials have delayed the medal ceremony for team figure skating amid reports that a Russian skater failed a drug test. A former casino executive was sentenced to a year and a day in prison for a bribery scheme to get his daughter into U.S.C.

The Mortgage Note Reports

Impact Of Labor Numbers On Housing Market Remains Unclear: Despite an uptick in job numbers and an increase in personal incomes, there is still uncertainty about how the latest Labor Statistics Report will impact the housing market.

Second Home Demand: Second home demand outpaced primary residence demand in January, up 87% from pre-pandemic levels, the highest in a year, Redfin reported.

Anchor Rebrands: Anchor Loans, a financer to residential real estate investors that was recently acquired by Pretium, has rebranded as part of its growth strategy.

And in other mortgage and housing news…

eXp Vs. Keller Williams: eXp Realty is contesting a restraining order preventing former Keller Williams CEO Mark Willis from joining the company.

Rocket Chairman Accused: An investor in Rocket Companies has accused the company’s chairman of insider trading, claiming he sold $500 million in company stock before a poor financial metric was made public.

FHFA Asks For Comment: The FHFA is asking for input on its Draft Strategic Plan for 2022 to 2026.

ADU Debate: New York’s governor has championed ADUs to address affordable housing, but it has sparked a debate in local communities.

“Failed Initiatives”: An ABC News analysis of mortgage lending data found significant housing segregation and “a pattern of racial isolation [that] remains consistent following decades of failed initiatives.”

Opportunity Index: In Q4 2021, 54.2% of new and existing homes sold were affordable to families earning the U.S. median income of $79,900, according to the NAHB/Wells Fargo Housing Opportunity Index.

Hitting The Pocket: The Guardian profiled some of the renters participating in the New York rent strike movement.

Fewer Matches: Mortgage firms may soon find themselves competing for business as refinance demand shrinks.

Real Estate Report: Danielle Hale and Denise Pellegrini discuss the factors that will keep the suburban housing market hot in 2022.