Morning Roundup (3/29/2024) — NAR Reaction Report

Good Morning! Today is Friday, March 29. FTX’s Sam Bankman-Fried was sentenced to 25 years in prison for stealing $8 billion from customers. The World Court ordered Israel to stop the spread of famine in Gaza. A judge is expected to rule on whether the U.S. government must provide shelter and food to migrant children.


The Mortgage Note Reports

Reaction Report: People who make their living helping homebuyers and sellers have spent the last two weeks figuring out what the National Association of Realtors settlement means for them and their clients. Here’s what five industry leaders had to say.

Rates Down: Mortgage rates fell last week, sliding to 6.79%, offering little relief to buyers as markets watch for signs of cooling inflation.

Keeping Costs Down: With home prices soaring out of reach and rates hot, Americans are using higher down payments to lower their monthly expenses.

Listen Up: 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.

In other mortgage and housing news…


PCE Data: The personal consumption expenditures price index excluding food and energy increased 2.8% YOY and 0.3% from a month ago, matching estimates.

Company News: Argyle added former FHFA Chief Fintech Officer Jason Cave to its board of advisors; Guaranteed Rate named Carlos Mata as Atlanta Branch Manager.

Splitting Up: Mike Kortas and Mat Grella, owners and co-founders of NEXA Mortgage, are in negotiations to end their partnership, and Grella has been terminated.

Understanding The Nuances: Treasury yields have climbed since the start of the year, propping up mortgage rates, and keep rising despite rate-cut expectations. Why?

Opinion: Reconnecting with past clients will position LOs to win the mortgage refi race when activity bounces back.

Housing Mysteries: Why did the U.S. Navy kill a controversial Arizona housing bill?