Morning Roundup (4/19/2023) — Struggle Ahead In 2023

Good Morning! Today is Wednesday, April 19. Fox settled a defamation lawsuit by Dominion Voting Systems for $787.5 million. China is preparing to expand its nuclear arsenal. The Supreme Court is expected to decide today whether an abortion pill will remain temporarily available while an appeal moves forward.

The Mortgage Note Reports

Struggle Ahead: AEI’s Ed Pinto expects housing sales in 2023 to follow the same pattern from a decade ago. Scott Kimbler has the story.

Market Stress: Interest rates increased last week for the first time in more than a month, pushing mortgage applications down.

Advice To FHA: CHLA and NAR sent a letter to the FHA offering suggestions on how the 203(k) loan program could better serve homeowners and buyers in need of repairs.

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…

New Opendoor Cuts: iBuyer Opendoor let go of 22% of its staff, the second major round of layoffs since November.

Fear Of A Crash: The median U.S. home price fell 3.3% in March to $400,528, the largest YOY drop since 2012, thanks to ongoing financial uncertainty.

B/B Lawsuit: claims Beeline Loans stole confidential information obtained from a former marketing analyst who switched jobs between the firms in 2020.

Tech To Profit: As lenders increasingly need to adopt solutions that increase profit margins during periods of low volume, these are the tech trends to watch.

Foreclosures Climb: In line with recent trends, foreclosure starts rose in Q1 2023, with bank repossessions at their highest point in three years.

Create Your Dream Home: Home shoppers can now design their dream home using AI, then see if it really exists on