Good Morning! Today is Monday, March 11, the first day of Ramadan. President Biden will propose his 2025 fiscal budget today, though it is not expected to become law. Virginia will end legacy admissions at public universities. At the Oscars, Oppenheimer won Best Picture.
The Mortgage Note Reports
Cash Crunch: How much should buyers put down on a home if they want to compete in today’s market? Writer Erin Flynn Jay talked to industry leaders to find out.
Spring Has Sprung: Mortgage purchase locks increased at the start of the spring homebuying season despite ongoing challenges, setting the stage for more activity.
Election Impact: More than half of Americans, both homeowners and renters, will partly base their choice for President on housing affordability come November.
In other mortgage and housing news…
Fed’s Stance: Jerome Powell said the housing market is in “a very challenging situation right now” that rate cuts alone can’t solve, all thanks to dwindling inventory.
UWM Celebrates: Leaders at UWM are celebrating what they call a significant leap in market share for the mortgage broker channel, commanding 24.3% in Q4 2023.
“Disappointing Development”: Rents are going up again, rising 2.2% YOY, with the Northeast and Midwest seeing the biggest gains.
Insurance Inquiry: State regulators asked more than 400 companies for data on their homeowner’s insurance businesses as coverage gets harder to buy.
POS Update: Floify announced the launch of Lender Edition, a newly badged version of the popular POS that introduces a flexible per-loan pricing option.
Moveable Rates: Could Canadian-style portable mortgages help unfreeze housing?
Living Like A Movie: Buy a home inspired by this year’s Oscars nominees.