Morning Roundup (4/12/2023) — CPI, Apps Up

Good Morning! Today is Wednesday, April 12. The Biden administration is proposing rules to ensure that two-thirds of new cars sold in the U.S. by 2032 are all-electric. The I.M.F. said the world economy looks increasingly likely to face a slowdown. Trump’s lawyers want to delay the start of a sexual assault and defamation trial.

The Mortgage Note Reports

Consumer Prices: Inflation continued its upward march last month but showed signs of cooling, up 5% YOY, down from 6% in February.

Apps Back On The Rise: Mortgage applications righted themselves last week after a brief dip, up 5.3%, as buyers take advantage of cooling rates.

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…

FFB, BNC: First Federal Bank is acquiring BNC National Bank’s mortgage division.

Lacking Info: Nearly one-third of lower-income homebuyers may not know about assistance programs that could help them afford their dream home.

WISH Grant-Matching Fund: FHLBank San Francisco opened up $12.5M in grants for lower-income first-time homebuyers.

Credit Up A Little: Mortgage credit remained tight in March despite increasing slightly, as lenders grappled with the fallout of bank failures.

Ishbia In The Spotlight: Complaints of racial disparities, sexual harassment, and bullying at UWM are casting a shadow on Mat Ishbia’s Phoenix Sun ownership.


“Overwhelming Majority”: Eighty-five percent of homeowners say inflation makes them worry and 69% of homeowners said they would welcome educational information from their servicer about strategies for managing their mortgage finances and home equity.