Good Morning! Today is Monday, February 27. China has rejected the Energy Department’s lab leak theory about Covid’s origins. At least three tornadoes hit Kansas and Oklahoma. U.S. newspapers are dropping the ‘Dilbert’ comic after the creator called Black people members of a “hate group.”
The Mortgage Note Reports
Back To The Office: More people in business, including those in lending, are returning to in-person work after the pandemic. Writer Chuck Green has the story.
Most Popular Metros: Miami has once again topped the list of most popular metros for movers as Americans leaving other expensive cities find relatively cheaper homes.
Pending Sales Up: Pending home sales jumped 8.1% in January as buyers took advantage of sinking rates, but that strong showing is not expected to last.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.
In other mortgage and housing news…
“The Only Game In Town”: Homebuilders are raking in orders despite the stalling market due to a lack of existing homes for sale.
Thinking Of Moving: Almost a third of Americans are contemplating a move in 2023 despite financial hardship, seeking out a change of scenery and lifestyle upgrades.
Not Over Yet: The markets had thought the Fed was nearly done with rate hikes, but now they could continue into June based on what fixed-income markets are implying.
Continued Improvement: Delinquencies were down across the board in January, with the overall national rate down 15% YOY, but foreclosure starts rose.
Closing The Gap: Black-owned homes appreciated more than any others since the start of the pandemic, with the typical Black homeowner gaining nearly $84,000 in equity.
Cenlar VP: Cenlar FSB announced that Pete Johnson has joined the company as Vice President of Special Products in Loan Operations.