Morning Roundup (3/28/2022)– Consumer Sentiment

Good Morning! Today is Monday, March 28. The White House will propose a 20% minimum tax on households worth more than $100 million. Russian and Ukrainian delegations will hold another round of peace talks in Turkey. Troy Kotsur became the first deaf man to win an acting Oscar for his role in “CODA,” which also won Best Picture.

The Mortgage Note Reports

Debt And Inflation Impacting The Housing Market: The pandemic has driven many people deeper into credit card debt. That, along with rising interest rates and inadequate housing stock, is reducing the number of new mortgages, Gregory Bresiger reports.

Consumer Sentiment: Consumer sentiment fell again in March, hitting its lowest level since August 2011 thanks to rising rates, war, and inflation.

Pending Home Sales: Contract signings fell for the fourth consecutive month in February, down 4.1% from January.

And in other mortgage and housing news…

New CDO: Guaranteed Rate has named a veteran marketing executive as its new Chief Marketing Officer and Chief Digital Officer.

Top 10: Here are the 10 US housing markets with the greatest number of foreclosure starts in February 2022.

Shifting Expectations:Low mortgage rates have reshaped people’s perceptions of what is a reasonable price to pay for a house.

Atlanta Unaffordable: The cost of buying a home in metro Atlanta is now officially considered to be unaffordable, according to the Federal Reserve Bank of Atlanta.

Global Crisis: WEF says 5 policies can help solve the global housing crisis: upzoning, financial incentives, revised immigration policies, more favorable mortgage terms, and increasing tax revenue.

“Tantalizing”: Real estate guru and “Shark Tank” panelist Barbara Corcoran says the current housing market is the best real estate investment opportunity of her lifetime.

Helping Hands: People around the world are donating their vacation homes and rental properties to Ukrainian refugees.