Good Morning! Today is Wednesday, March 15. Meta is laying off 10,000 employees, its second round of cuts since November. A Russian warplane collided with a U.S. drone over the Black Sea. Biden signed an executive order to strengthen background checks for gun buyers and improve investigations into gun crimes.
The Mortgage Note Reports
To Hike Or Not To Hike?: Mixed economic indicators released this week may have stalled the Federal Reserve’s plans for another round of aggressive rate hikes.
Applications Rise, Rates Fall: Mortgage applications increased again last week while brewing banking troubles forced rates down.
Concerns In Lending: Chairman Eddie Wilson of the American Association of Private Lenders sat down with Editor Kimberley Haas to discuss issues of importance to their members.
Opinion: Jared Whitley writes that despite repeated claims that United Wholesale Mortgage has never laid anyone off, the employee count is down 30% over the past two years.
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.
What are you seeing this spring homebuying season? We want to know. Email us at [email protected].
In other mortgage and housing news…
More Bank Troubles: Credit Suisse shares crashed more than 20% to a record low after its biggest backer ruled out providing any more funding for the lender.
Best Time To Sell: Homeowners who list the week of April 16-22, 2023 will see the best combination of higher prices, faster sales time, and strong buyer demand.
Sellers Open Their Wallets: Nearly half of home sellers are making concessions to woo buyers, including covering repairs, mortgage-rate buydowns, and closing costs.
“Accidental Landlord”: Homeowners who don’t want to lose the 3% mortgage rates they locked in during the pandemic are renting out their homes rather than selling.
New Nations Branch: Nations Lending opened a new branch in St. Louis, led by Steve Dieckhaus as Area Sales Manager.
Inflation Changes: Inflation is increasing at different paces in different metros, with Philadelphia, Detroit, and Houston seeing it rise the most in the last three months.