Morning Roundup (4/19/2024) — Rates Top 7%

Good Morning! Today is Friday, April 19. Israel retaliated overnight against Iran’s attack on its territory with what appeared to be a limited strike. The police arrested more than 100 pro-Palestinian students at Columbia University. All 12 jurors have been seated for Donald Trump’s criminal trial in Manhattan.

The Mortgage Note Reports

Topping 7%: Average mortgage rates surpassed 7% for the first time in 2024 last week.

Values Rising: Home price appreciation will continue to climb this year, according to the latest analysis by leaders at AEI Housing Center.

Compliance Help: Cornerstone Servicing now uses compliance technology from Bizzy Labs to perform daily exception processing on servicing portfolios.

Geneva Leadership: Legal expert Jessie Ermel has joined Arizona-based Geneva Financial as Chief Compliance Officer.

In other mortgage and housing news…

“Business Critical” Partners: Mortgage lenders view technology service providers as indispensable to their business but expensive due to little competition.

GR Lawsuit: A former LO at Guaranteed Rate has sued the lender and two managers for sexual harassment and unequal compensation; the company is investigating.

Company News: FormFree upgrades Passport Wallet; First Federal Bank is acquiring Watson Mortgage Corp.

Shocking Prediction: Wall Street “oracle” Meredith Whitney says young men who live at home and play video games will cause home prices to crash by 30%.

Luxury Mindset: The typical luxury home costs more than it ever has, but luxury buyers keep buying, undeterred by high costs and optimistic about rising prices.