Good Morning! Today is Tuesday, April 2. At least one person in Texas has been diagnosed with bird flu after having contact with dairy cows. Israel says it unintentionally killed seven aid workers in Gaza. Iran accused Israel of bombing its embassy in Syria.
The Mortgage Note Reports
“Never Signed”: Leaders at Atlantic Trust Mortgage, wrapped up in a lawsuit over UWM’s “All In” ultimatum, say they never agreed to be in an exclusive relationship with the company. Reporter Jared Whitley has the story.
Quiet Spring: Inventory and rate pressures are creating conditions for a “quieter” spring homebuying season, with depressed sales possible through the coming months.
Gold Standard: “Million-Dollar Cities” are soaring as inventory keeps home prices moving up, with California boasting more than 200 alone.
Listen Up: Spring is here and the home selling season is getting underway. Writer Nicole Murray spoke with real estate professionals and recent buyers to see what they think about the current market for our latest podcast.
In other mortgage and housing news…
HP Growth: U.S. single-family home prices rose by 5.5% YOY in February, but are expected to taper to 3.1% growth by February 2025.
NEXA Update: NEXA’s Mat Grella accused Mike Kortas of making “secret, unauthorized” aircraft-related purchases with company money without his consent.
Age In Place: More than three-quarters of older American homeowners plan to stay in their current homes as they age, contributing to the shortage of homes for sale.
UWM Suit Dropped: A second federal judge has determined that UWM’s “All In” ultimatum is not a monopoly, dismissing a suit from America’s Moneyline.
“Unique” Rate Plan: Could Dutch-style mortgages– where rates go down as the mortgage is paid off– help American homebuyers?
Us Vs Them: The U.S. market seems to be stabilizing while markets in other countries, where homeowners are often hit with rate changes, may be headed for trouble.