Morning Roundup (3/4/2022)– Rates, Lending Down

Good Morning! Today is Friday, March 4. Russian troops have seized Europe’s largest nuclear power plant. Florida legislators voted to ban most abortions after 15 weeks. The Sackler family and Purdue Pharma reached a deal with states to settle thousands of opioid lawsuits.

The Mortgage Note Reports

Could Higher Interest Rates Actually HELP the Housing Market? That’s the theory of some economists who believe soaring housing prices are a bigger drag on the market than rising interest rates.

Rates Dropping: Mortgage rates fell again last week, dropping to an average of 3.76% from 3.89%, Freddie Mac said.

Originator Woes: Mortgage lending dropped at its fastest pace in almost three years in Q4 2021, down for the third quarter in a row and the largest decrease since late 2018.

And in other mortgage and housing news…

Jobs Report: Job growth accelerated last month, with U.S. employers adding 678,000 jobs in February, the Labor Department said.

Rent Assistance: NFHA has developed an interactive web service that connects renters who need support to pay their rent to programs that can provide assistance.

Feb Review: Mark Paoletti released his February Mortgage Economic Review.

Home Price Appreciation: The median home sale price rose 16% from a year earlier, the largest increase since August, Redfin reported.

wemlo Support: wemlo has added support for new loan products to provide a seamless loan processing experience for mortgage brokers and loan originators.

Take A Look: Here are the states with the highest vacancy rates.