Morning Roundup (3/27/2023) — Rents Up In The Sun Belt

Good Morning! Today is Monday, March 27. Israelis are protesting after Prime Minister Netanyahu fired his defense minister for opposing a plan to strip power from the supreme court. Seven people are dead after an explosion at a chocolate factory in Pennsylvania. Violent storms in the South killed at least 26 people this weekend.

The Mortgage Note Reports

SVB Collapse: Leaders at First Citizens Bank and Trust Company have entered into an agreement to acquire Silicon Valley Bridge Bank. Editor Kimberley Haas has the story.

Feeling The Squeeze: Rents have been rising nationwide, but a new analysis found that renters in the Sun Belt have seen the biggest jumps thanks to domestic migration.

Leslie Heads To CBC: Guaranteed Rate’s Mark Leslie joined CBC Mortgage Agency as director of capital markets.

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…

Zoom Town Struggles: Pandemic “Zoom towns” were flooded with homebuyers in the work-from-home era, but now those same new residents are facing layoffs

End Of An Era: …and remote work is ending as the share of businesses with workers on-site most of the time neared pre-pandemic levels in 2022.

Fraud On The Rise: Real estate pros report a surge in housing fraud as the housing market remains tight, and they expect it to get worse before it gets better.

Automating To Save: SnapDocs says mortgage lenders can save more than $400 per loan by using eClose technology to digitize and automate the closing process.

SanFran Takes Another Hit: San Francisco’s housing market may suffer the most in the wake of recent bank failures, putting more pressure on already-dropping home prices.

Where To Find Deals: found the cities where the highest percentage of sellers are slashing their list prices — and those that are seeing the least price reductions.

Surviving A Downturn: Are mortgage brokers relying on “gimmicky” programs to sustain themselves during downtimes?