Good Morning! Today is Thursday, March 30. Russia detained an American reporter from The Wall Street Journal, accusing him of espionage. Several tech experts, including Elon Musk, want to pause AI development for six months or more. Narcan, which can help prevent opioid overdose deaths, will now be sold over the counter at local pharmacies.
The Mortgage Note Reports
SECURE Notarization Act: Industry leaders are rallying around a federal bill that would permit the nationwide use of remote online notarization. Editor Kimberley Haas sat down with two leaders at SingleSource Property Solutions to learn more.
Elusive Affordability: Buying a house became slightly more affordable in Q1 2023 as the housing market stalled, but remained out of reach for many Americans.
SMBs Welcome: Small and mid-size mortgage lenders of up to 10 LOs can now subscribe to Mobility Market Intelligence’s platform.
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…
Delinquencies Improve: U.S. mortgage delinquencies fell YOY for the 22nd straight month in January, with only 25 metros seeing increases nationwide.
FirstAm RHPI: Price declines will continue across many markets, but they would have to be substantial to erase all the equity gains accumulated by homeowners.
Declines Coming Soon: If home price deceleration continues at the same rate, more metros could see YOY list price declines as early as summer.
Inventory Boost: The number of homes for sale is up by 59.9% compared to last year, but this pace of growth declined slightly compared to pre-pandemic levels.
Florida Bill: Ron DeSantis signed affordable housing legislation that will pump $711 million into housing programs and incentivize developers with significant tax breaks.
Lessons Learned From Covid: MBA applauded the FHFA’s announcement of enhanced deferral plans for homeowners facing financial hardship.