Good Morning! Today is Tuesday, March 19. The FOMC begins its March meeting today. Several states are holding presidential primaries. Japan raised interest rates for the first time in 17 years. The U.S. said Israel will send officials to Washington to discuss concerns over a military operation in Rafah.
The Mortgage Note Reports
Tech Helps: The CEO of Land Gorilla says advancements in technology are creating opportunities for more profitable construction lending. Editor Kimberley Haas has the story.
Construction Comeback: Residential starts bounced back in February for both single- and multi-family housing after severe winter weather slowed builders down.
Grant Offer: Ally Home and HouseCanary are offering a $5,000 grant to homebuyers in three major metros while adding a search function for aid-eligible homes.
In other mortgage and housing news…
Pre-Pandemic Norms: Home price growth has stabilized alongside mortgage rates, up 0.6% in February, on par with the average monthly gain of pre-pandemic years.
Look Into The Future: After the NAR settlement, buyers are expected to save on commissions but they may have to do more work themselves.
Forever Changed: No matter what, the residential real estate market will forever be changed due to the NAR settlement.
Submit Now: Flagstar Bank is now accepting applications for its fifth annual MortgageTech Accelerator program for innovative solutions for the mortgage sector.
Company News: ICE added two new solutions to its suite of property valuation tools; Ocrolus will offer representations and warranties coverage for income calculations; Carrington rolled out a new fixed-rate second lien product.