Good Morning! Today is Friday, April 12. Billions of cicadas are expected to emerge in the coming weeks in some parts of the country. OJ Simpson died of cancer at 76 years old. Donald Trump’s hush money trial will begin Monday.
The Mortgage Note Reports
Renters Lose Hope: Nearly 40% of renters believe they’ll never own a home, up from just 27% last year, due to mounting affordability pressures.
Rates Jump: Mortgage rates are marching towards 7% again, averaging 6.88% last week, as sticky inflation threatens their stability.
In other mortgage and housing news…
Potential Shake-Up: The CFPB is considering banning mortgage bankers from charging buyers for title insurance that protects the lenders, a long-standing practice.
Inflation Fight: Federal officials said they wanted more proof that inflation is falling before reducing rates. They didn’t get it.
Price Predictions: One research firm predicts home prices will surge another 5% in 2024 as the market remains even tighter than in 2023.
Housing On The Lam: Expensive housing is even impacting FBI agents based in cities where high costs make it tough to make ends meet.
A New Path: Prospective home buyers are giving up hope that interest rates will come down soon and are changing their life plans accordingly.
Check It Out: Explore the largest office-to-rental conversion in New York City so far.