Good Morning! Today is Thursday, March 23. The Fed raised interest rates by a quarter of a point. A judge blocked Wyoming’s abortion ban until further court proceedings. The CEO of TikTok is testifying before the House Energy and Commerce Committee this morning.
The Mortgage Note Reports
Rate Hikes: Writer Patrick Lavery covers this week’s decision by officials at the Federal Reserve to slow down interest rate hikes as banking uncertainty continues.
Ups And Downs: Delinquencies across the nation rose in February to 3.45% as economic pressures squeeze Americans, but prepayment activity saw improvement.
New Home Sales: New home sales increased by 1.1% in February, an unexpected increase, and remain down 19% from the same time last year.
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…
Industry Trends Report: As the critical defect rate rose for the second straight quarter, defect rates in three of the four major underwriting categories also increased.
“Safest Places To Live”: Southwestern counties are the least likely to face serious climate-related disasters in the next 30 years, CoreLogic says.
Cracks In The Armor: Central banks are raising rates at the fastest pace in more than 40 years and signs of stress are showing, such as recent turmoil in British markets.
Too Many Flippers: The number of flipped homes in the U.S. hit its highest level in more than 15 years, but ROI fell to its lowest point since 2008.
Fairway Addition: Fairway Independent Mortgage hired originator Michael Romano as Branch Sales Manager serving Massachusetts and other states.