Morning Roundup (2/16/2024) — Renters’ Plight

Good Morning! Today is Friday, February 16. Donald Trump’s criminal trial over payments to Stormy Daniels was set for March 25. OpenAI previewed Sora, an AI video generator. Authorities in Kansas City are keeping two teenagers in custody after the Super Bowl celebration shooting.

The Mortgage Note Reports

Renters Plight: Compared to homeowners, renters feel bad about their finances, but in most of the country renting is the more affordable option right now. Writer Erin Flynn Jay has the story.

Rates Increase: Tough inflation data led to mortgage rates increasing for a second straight week, hitting 6.77%.

Guild + Academy: Guild Mortgage is acquiring its friendly competitor Academy Mortgage, gaining 200 branches and more than 600 LOs in the process.

In other mortgage and housing news…


Home Ready: Guaranteed Rate is expanding its Fannie Mae and Freddie Mac-backed mortgage product to offer up to $5,500 in assistance, plus additional benefits.

Slowing Market: Stagnating rates and soaring home prices led to new listings falling for the first time since June and pending sales are slowing.

Clever Title: Clever Real Estate debuted a title and escrow company designed to streamline processes and enhance transparency for clients and partners.

Another Lawsuit: UWM sued California-based Client Direct Mortgage for breaching its early payoff provision and its owner, Ramon Walker, for trademark infringement.

Rare Find: A 119-year-old Mediterranean mansion in Pittsburgh is on the market for the first time in nearly eight decades.