Good Morning! Today is Wednesday, March 22. President Biden designated two national monuments in Nevada and Texas, protecting lands important to Native peoples. Google released Bard, its own A.I. chatbot, to compete with rivals. Actress Gwyneth Paltrow is on trial for her role in a ski accident.
The Mortgage Note Reports
HUD Budget: Leaders at the U.S. Department of Housing and Urban Development have unveiled their proposed budget for FY 2024 and say funds will be directed at solving the nation’s housing crisis. Writer Scott Kimbler has the story.
Apps Up: Mortgage applications rose for a third week as buyers take advantage of retreating rates, but will increased demand last?
Lewis At BSI: Former Nationstar exec Harold Lewis is joining mortgage operating platform BSI Financial Services as president and COO.
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…
Less Money Down: The typical homebuyer made a $42,000 down payment in January, the lowest level in nearly two years, amid rising mortgage rates and low competition.
Market On Edge: Some experts say the housing market is “overly sensitive” to Fed rate hikes, and talk about the next steps ahead of the FOMC’s rate decision.
Anxiety Rising: The $8T mortgage-debt industry is nervous after SVB’s collapse, worried other banks will sell mortgage-backed securities and push down prices.
Gen Z Investing Early: Aided by technology, a growing number of Gen Zers are turning to real estate investing as an escape from the traditional 9-to-5.
The Big Question: Will the SVB fallout collapse the housing market? Probably not.