Morning Roundup (3/16/2023) — Surprise! Starts, Permits See Gains

Good Morning! Today is Thursday, March 16. March Madness starts today. Credit Suisse is borrowing up to $54 billion from the Swiss central bank to ward off concerns about its financial health. Garbage is piling up in French cities as workers strike to protest President Emmanuel Macron’s plan to raise the retirement age.

The Mortgage Note Reports

Hotel Recovery: With a projected 1.3 billion occupied room nights in 2023, writer Chuck Green dives into the state of the hotel industry, what lenders need to know, and where investors should be looking.

Surprise Gains: Housing starts and permits both rebounded by more than expected in February, with increases for both single-family and multifamily projects.

Real Matters Change-Up: Rodrigo Pinto has been named EVP and CFO at Real Matters, succeeding Bill Herman, who is stepping down.

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…

LD Moves Money: loanDepot says it moved the $225M it held at Signature Bridge Bank to another institution and that it has “full access” to its $600M credit lines there.

SVB’s Market Impact: SVB’s fall could ease mortgage rates and push property prices down in tech-heavy metros including San Francisco and Seattle, a Zillow economist says.

Great Time To Buy?: In the wake of SVB’s meltdown, is now the perfect time to buy a new home?

Shopping Around: Freddie Mac says homebuyers can potentially save $600-$1,200 annually by applying for mortgages from multiple lenders.

Fannie Board Addition: Fannie Mae named former PricewaterhouseCoopers partner and financial services veteran Michael Seelig to the Board of Directors.

Landlords See Gains: Yields for landlords are up for the first time in several years, ATTOM reports, with Florida and the Midwest seeing the most gains.