Good Morning! Today is Wednesday, March 6. Nikki Haley is expected to drop out of the race for president. Arizona senator Kyrsten Sinema won’t seek re-election. Facebook and Instagram went through a global outage for about two hours yesterday.
The Mortgage Note Reports
Apps Turn Up: Mortgage applications were back after a stretch of declines, increasing across the board last week.
Carrington Leadership: Bruce Rose, founder and CEO of Carrington Companies, is transitioning out of that role and will be succeeded by company veteran Andrew Taffet.
Climate Risks: The president of Rutledge Claims Management says the hazard insurance industry faces critical challenges in assessing and pricing climate risks, which directly impacts the vulnerability of mortgages.
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In other mortgage and housing news…
“Unexpected Tax Boon”: Can high mortgage rates actually help homeowners? A long-forgotten tax deduction based on interest paid may ease some of their pain.
Frozen Market: Top economist Gary Shilling predicts a “considerable revival” in housing activity, but thinks it will take 3 or 4 years to unfreeze the housing market.
What Zoomers Want: Gen Z is willing to go through the financial ringer to someday own a home, but there are things they simply won’t compromise on.
Senior Power: The wealth of older Americans climbed by about $91,000 during the pandemic years as home and stock values soared.
Company News: I/E data provider Argyle closed a $30 million funding round, raising $100M since its inception; Pennymac promoted a new Chief Digital Officer and Chief Information Officer; top 200 LO John Abraham and his team joined The Money Store.
Grass-Grazers: Where can you rent goats and sheep to keep your grass from looking unruly? What you need to know about animal lawn mowing.