Morning Roundup (2/5/2024) — Close To Home

Good Morning! Today is Monday, February 5. Hundreds of thousands of people are without power in California due to intense rain. Wildfires in Chile killed 112 with many people still missing. Boeing found a new problem with 737 Max fuselages that will require work on 50 jets.

The Mortgage Note Reports

Close To Home: A majority of Millennials and Gen Zers are settling down in their hometowns. Writer Chuck Green looks into why and how that might help real estate professionals.

Signs Of Life: Prices are soaring and affordability remains a struggle, but ICE says even as some metrics remain out of whack, they’re moving in the right direction.

VR Tours: Tech-minded buyers can tour homes in virtual reality on the Rocket Homes app through Apple Vision Pro.

In other mortgage and housing news…

“Don’t Blame The Fed”: A Senior Zillow economist said overall economic strength is to blame for high rates, and cuts from the Central Bank may not push them much lower.

Fairway’s Exit: Fairway Independent Mortgage is shuttering its wholesale division and shifting its focus entirely to retail.

Successful Incentives: D.R. Horton, the nation’s largest publicly traded homebuilder, says it won’t stop offering mortgage-rate buydowns — even if interest rates tumble.

Depressed Activity: New listing and contract volumes were down in January as low activity persists thanks to ongoing stock shortages and little faith in a March rate cut.

Company News: New American Funding will acquire Chicago-based Draper and Kramer Mortgage Corp; Northpointe added four leaders to its residential lending team.