Good Morning! Today is Wednesday, March 29. A new federal indictment accuses FTX Founder Sam Bankman-Fried of conspiring to bribe Chinese officials. Alibaba Group, China’s e-commerce giant, is splitting into six business groups. Mike Pence has been ordered to testify before a grand jury investigating the Jan. 6 riot.
The Mortgage Note Reports
Supplemental Claims: A Florida mortgage broker challenging UWM’s ultimatum agreement wants to include recent disclosures and statements related to the company’s successes to help prove his antitrust case. Editor Kimberley Haas has the story.
Applications Up Again: Mortgage applications increased for a fourth week, inching up as home price indicators show decelerating growth.
Cenlar Promotion: Rene Gonzales has been promoted to CTO at Cenlar FSB.
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…
Pending Home Sales: Pending home sales increased for the third consecutive month in February, up 0.8% from January and in all regions but the West.
Mover Over, Millennials: Baby Boomers now account for 39% of homebuyers, up 10% from last year and unseating Millennials as the biggest buying cohort.
Fed Survey: Homeowners said they are highly unlikely to refinance this year and expect home prices over the next 12 months to rise at the slowest pace since 2014.
Low-Income Impact: Interest rate hikes are disproportionately affecting low-income buyers, with the share of these buyers falling 16% when rates go up by 1%.
Predicting The Future: If the U.S. tips into recession, what direction will housing go?
Another Big Drop: A senior economist at Interactive Brokers tells Business Insider why home prices across the country will fall another 11% over the next year.
“Bucking The Trend”: The high-end housing market has plummeted, but this hotel-branded “luxury suburb” near Park City, Utah has seen demand stay high.