Good Morning! Today is Monday, April 18. Russia is headed toward a default on its foreign debt for the first time since 1918. The World Health Organization estimates that fifteen million people have died of Covid. Police arrested a suspect in connection with a shooting Saturday at a Columbia, S.C., shopping mall that left 14 people injured.
The Mortgage Note Reports
Job Cuts: Writer Chuck Green reports that empty desks are apparently not so uncommon these days in the mortgage industry.
Record HPI Annual Pace: Fannie Mae’s HPI accelerated in Q1 2022 to its fastest annual pace in the 47-year history of the index, measuring 20% YOY.
Eco-Friendly Homes:A Zillow analysis found that homes with eco-friendly features can sell faster and for more money than similar homes without them.
And in other mortgage and housing news…
Block-Out: Small groups of neighborhood volunteers are blocking companies from buying single-family homes, rewriting homeownership rulebooks to thwart investors.
Soaring Rents: Despite a dip in year-over-year growth rate, the median rent in the 50 largest metros reached a new high, $1,807, according to a Realtor.com report.
Fannie’s Forecast: Fannie Mae predicts core inflation to keep rising, citing the CPI’s slowdown last week that this was driven primarily by a drop in used car prices.
Focusing On Energy: Fighting both the affordable housing and climate crises requires attention to energy bills, Rachel Cohen argues.
Remodeling Market: Dan Darrah makes the argument for prioritizing public housing over affordable housing in North America.
Biden Nomination: The Biden administration will nominate Michael S. Barr to be the Federal Reserve’s vice chair for supervision.
Eyes On Boise: Typical home values in Boise rose just 0.4% last month, down from a 4.1% monthly pace in June, making it the first major market to flirt with falling prices.
Take A Look: See what real estate is for sale in the cheapest and most expensive housing markets in America.