Morning Roundup (2/2/2024) — UWM Refi Discount

Good Morning! Today is Friday, February 2. The E.U. will create a $54 billion fund to support Ukraine’s economy. China and the U.S. are meeting to discuss restricting the flow of fentanyl into America. A pilot and two people on the ground died when a small plane crashed into a mobile home in Clearwater, FL.

The Mortgage Note Reports

Rates Down: Mortgage rates reversed a one-time uptick and fell last week to 6.63%, good news for buyers even though moderating rates have not translated to sales.

Refi 100: UWM launched a temporary program allowing its broker partners to offer discounts of 100 bps for conventional rate-and-term refinances.

In other mortgage and housing news…

Another Settlement: Keller Williams agreed to pay $70 million to settle the Sitzer/Burnett commission lawsuit, the third settlement in the class action so far.

Employment Report: The U.S. economy added 353,000 jobs in January, far exceeding economists’ expectations for 176,000.

“Sign & Save”: Redfin will give buyers who agree to work with a Redfin agent before the second tour a refund of 0.25 – 0.5% of the purchase price at closing.

Cause And Effect: Did looser credit underwriting standards that emerged in the second half of 2022 lead to rising delinquencies in non-QM loan pools?

Popular Listings: Check out these historic homes and former churches.