Good Morning! Today is Thursday, February 8. Israel rejected a ceasefire plan from Hamas. Senate Republicans blocked a bipartisan border bill. The Supreme Court will hear arguments today about whether Trump can be president again in the face of his efforts to overturn the 2020 election.
The Mortgage Note Reports
Falling In Love: This Valentine’s Day, if you are ready to get off the sidelines and into the housing market, you are likely not alone in your quest to find a place you love. Editor Kimberley Haas has the story.
NC Discrimination: First National Bank of Pennsylvania will pay $13.5 million to settle redlining allegations raised by the DOJ and the State of North Carolina.
Sales Down: Though rates have stabilized in 2024, prices and stock shortages have kept home sales at bay, with pending sales down 8%.
Op-Ed: Desmond Lachman at the American Enterprise Institute says there is a striking similarity between the 2008 sub-prime lending problem and today’s commercial real estate market, so the Feds should have a contingency plan for regional bank defaults.
In other mortgage and housing news…
CRE’s Ongoing Impact: Fed chairman Jerome Powell said commercial real estate weakness is a “problem we’ll be working on for years.”
Romantic Interest: A third of Americans fight with their romantic partners over finances, and many say mortgage debt is (or would be) a top concern.
Out-Of-Pocket: Less than 2% of Californians have flood insurance, and this week’s storms aren’t likely to change that. Here’s why.
Jury’s Split Decision: The jury in former Baltimore prosecutor Marilyn Mosby’s mortgage fraud case found her guilty in one charge but not guilty in a second.
New Program: Zillow added an option to search for and list individual rooms for rent.
Rents Affect Buyers: Tenants paying higher rents say it’s likely to impact their home purchasing plans this year, and most landlords still plan to raise them.