Good Morning! Today is Tuesday, March 22. The U.S. is opposing Poland’s idea of sending troops into Ukraine. President Biden warned companies that Russia was considering cyberattacks in retaliation for sanctions. Miami Beach officials issued a curfew after two shootings during spring break.
The Mortgage Note Reports
Invasion Of Ukraine, Inflation To Take Toll On U.S. Housing Sector: Russia’s invasion of Ukraine and its implications for the global economy has some experts saying the housing market in the United States will be impacted.
Soaring Housing Costs: The average monthly asking rent in the U.S. rose 15% YOY but were once again outpaced by mortgage payment growth, up 31% YOY.
AIMI Falls: The Freddie Mac Multifamily Apartment Investment Market Index fell by 4.8% in Q4 2021, with the index down 2.4% compared to Q4 2020.
And in other mortgage and housing news...
Impending Drop: Ian Shepherdson of Pantheon Macroeconomics predicts a dramatic fall in demand, saying existing-home sales may drop 25% by the end of summer.
“Significant And Shocking”: A Black homeowner who recently sought to refinance his mortgage with Wells Fargo is suing the bank, claiming racial discrimination.
Freddie Appointment: Freddie Mac announced the appointment of Wendell Chambliss as senior vice president and chief diversity and inclusion officer.
Review Halted: Industry leaders are applauding the government’s move to halt a review of broker commissions, saying it’s the result of the strength of the broking industry.
Not Just Cities: China says housing prices are stable, but some evidence shows debt-burdened developers are selling apartments at falling prices and offering big discounts to get cash in the door.
Investor Perspective: How one investor grew their real estate portfolio to $2.5 million over four years.