Morning Roundup (2/12/2024) — Will Americans Vote On Housing?

Good Morning! Today is Monday, February 12. Israel reports it rescued two hostages from Hamas terrorists in Gaza. Vice President Kamala Harris told the Wall Street Journal she is “ready to serve” as reports raise questions about President Joe Biden’s fitness for office. The Kansas City Chiefs beat the San Francisco 49ers in overtime at Sunday night’s Super Bowl.

The Mortgage Note Reports

Swaying Voters: The affordability of homes affects every American family, but will it make an impact on who voters pick when they go to the polls this year? Editor Kimberley Haas has the story.

MBA Response: MBA President Bob Broeksmit responded to comments by U.S. Treasury Secretary Janet Yellen who said that independent mortgage banks require regulatory oversight as they navigate commercial real estate debt.

In other mortgage and housing news…

Rising Debt: Mortgage balances increased by $112 billion during Q4 2023 and stood at $12.25 trillion at the end of December.

MCAI: Mortgage credit availability increased slightly in January thanks to a greater number of conventional loan program offerings, but remained close to 2012 lows.

Jobs Data: Positive reports from the Bureau of Labor Statistics spells bad news for prospective homebuyers who hope mortgage rates will drop.

Volunteers Recognized: The National Association of Realtors announced the opening of applications for its 2024 Good Neighbor Awards.

“Singles Tax”: Renters in the one-bedroom market are paying a premium of $7,110 per year to live alone, which is up more than $100 from last year.

Budget Friendly: To combat high prices and mortgage rates, Americans are buying tiny homes and portable living spaces.