Good Morning! Today is Wednesday, March 27. The Federal Trade Commission accused big retailers of artificially inflating grocery prices. NBC News cut ties with Ronna McDaniel, the former Republican Party chairwoman, after facing criticism. Trump’s social media company surged on its first day of trading on the Nasdaq.
The Mortgage Note Reports
Listen To Our Podcast: Spring is here and the home selling season is getting underway. Writer Nicole Murray spoke with real estate professionals and recent buyers to see what they think about the current market for our latest podcast.
Application Dip: Mortgage applications are down for a second week even as rates fell slightly to 6.93%, still too high to encourage borrower demand.
Brooks At Meridian: Troubled CRE juggernaut Meridian Capital Group named former regulator and Fannie Mae exec Brian Brooks as its Chairman and CEO.
In other mortgage and housing news…
The True Cost: Many buyers are shocked to discover the cost of home maintenance and fees as non-mortgage expenses reach nearly $18K a year.
“Windowless Rooms”: Student housing is a hot sector in real estate, but high rents are forcing students to take on more debt and settle for sub-par conditions.
Lawsuit Resolutions: loanDepot has settled a Maryland appraisal bias lawsuit; CrossCountry must pay $1.8 million to end a wrongful termination suit from 2022.
“Correct The Record”: Premier Sotheby’s International Realty CEO Budge Huskey debunks seven myths about the post-NAR settlement.
NAR Reactions: The NAR settlement, if approved, would “be pretty disruptive” and “dangerous” for first-time homebuyers, one mortgage CEO says.