Good Morning! Today is February 3, 2022. The U.S. is deploying 3,000 more troops to Eastern Europe. The Army said it would immediately discharge unvaccinated soldiers. Jeff Zucker resigned as the president of CNN over a romantic relationship with an executive.
The Mortgage Note Reports
Millennial Domination: Despite challenging conditions for first-time homebuyers, Millennials make up a majority of homebuyers in most of the US’s largest metros, especially Denver, Seattle, and Boston.
Home Value Record: December 2021 saw a record annual surge in U.S. home value led by Austin, TX, which saw total home values equivalent to the 2020 GDP of Ecuador.
And in other mortgage and housing news…
Love In The Air: A survey from Zillow found 34% of recent movers say it’s harder to find a house than a spouse, despite finding it more enjoyable to shop for homes than date.
Lumber Tumbles: Lumber prices have plummeted 30% over the past two weeks due to rising mortgage rates causing a cool-down in the housing market.
Buyer’s Remorse: Millennials are regretting their homebuying choices, a byproduct of the housing crisis forcing buyers to make snap decisions and compromises.
Three Points: UWM released “Three Points With Mat Ishbia,” a video updating UWM partners and brokers on what to expect in 2022.
Month In Review: NMP released Mark Paoletti’s Mortgage Economic Review, a monthly summary of data relevant to mortgage professionals.
Appraisal Center Launch: A&D Mortgage launched its AD Appraisal Center, a new centralized appraisal platform that will allow clients to order and track any appraisal without having to leave admortgage.com.
Angel Oak Expanding: Non-QM lender Angel Oak has opened two new branches, one in Camarillo, CA, and the other in Hattiesburg, MS.
Ramping Up: Corporate investors remain bullish on real estate as their bets from last year bring in high returns.