Morning Roundup (4/17/2024) — Rate Explosion

Good Morning! Today is Wednesday, April 17. Seven jurors have been sworn in for Trump’s criminal trial. House Republicans delivered articles of impeachment against Alejandro Mayorkas to the Senate. Officials promised the British government that Julian Assange would not face the death penalty if extradited to the U.S.

The Mortgage Note Reports

Rate Explosion: The 30-year fixed rate shot up to 7.13% last week, a four-month high, as the Central Bank responds to an unexpectedly strong jobs report.

Starting Off Strong: Single-family home prices soared year-over-year in the first quarter of 2024, starting the year off with an unaffordable pop.

In other mortgage and housing news…

GSE News: Fannie Mae and Freddie Mac said they will continue to exclude seller or listing agent payment of buyer agents’ commission from interested party contributions.

“Win-Win-Win For America”: Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez introduced a “Green New Deal for Public Housing” addressing four U.S. crises.

Section 184 Update: HUD announced a final rule enhancing a home loan program that helps Native American families achieve the dream of homeownership.

Company News: ICE users can now see climate metrics related to individual loans, properties, or portfolios; Floify integrated with Truv to enhance i/e verification.

“It Wasn’t Paradise”: Sand piles, salt rust, and high prices– these are the surprising downsides of owning a beach house.