Good Morning! Today is Tuesday, April 12. After meeting with Vladimir Putin, Austria’s chancellor said he feared Russia would intensify the brutality of its attacks. U.S. stocks fell Monday as Covid-19 lockdowns in China added to investors’ worries. Thirteen people have been transported to area hospitals after a shooting at a Brooklyn subway station.
The Mortgage Note Reports
Fast 15 Guarantee: Rocket Pro TPO is promising to clear eligible loans in no more than 15 business days and leaders there say they are able to guarantee these closing times because of the company’s investment in technology. Editor Kimberley Haas reports.
Mortgage Monitor: Rate lock activity rose 19.1% month-over-month in March as homeowners move before interest rates rise further.
IMB Profits Down: IMB production profits fell to an average of $2,339 on each loan in 2021, down from the record $4,202 per loan in 2020.
And in other mortgage and housing news…
CPI Report: Consumer prices rose 8.5% in the year through March, reaching the fastest inflation rate since 1981.
Expectations: Consumers remain pessimistic about home prices, inflation, jobs, and credit availability in the short term, though they’re feeling slightly better about the future.
Densification Measures: A majority of homeowners and renters support allowing backyard cottages, duplexes, and triplexes in residential neighborhoods, Zillow reported.
Redwood Offerings: Redwood Residential has launched new expanded product offerings geared towards addressing the growing cohort of self-employed borrowers.
New Home Investments:Investors are eager to buy newly built homes in bulk, a boon to home builders who have increased construction in recent months.
“Who Wants To Be First?”: California needs to ease its housing crunch, but establishing brand-new cities isn’t the best way to do it, says urban planner Alain Bertaud.
iBuyer Explosion: iBuyers boomed in 2021, purchasing more than 71,000 homes in the course of the year, according to zavvie’s Q4 2021 Seller Preferences Report.