Morning Roundup (4/21/2022)– Monthly Payments Up, Home Sales Down

Good Morning! Today is Thursday, April 21. Russia test-launched a new intercontinental missile that it said could carry several nuclear warheads. The federal government charged 21 people in Medicare fraud schemes, including selling fake vaccine cards and test results.

The Mortgage Note Reports

“Plenty Of Fuel In The Tank”: Monthly mortgage payments on the typical U.S. home are 19.5% higher than they were three months ago, but demand just keeps growing.

Existing Home Sales: Existing-home sales fell for the second straight month in March, down 2.7% from the prior month and 4.5% from a year ago. 

And in other mortgage and housing news…

Blend Layoffs: Mortgage tech company Blend has laid off 10% of its workforce.

BOA Settlement: HUD signed a Conciliation Agreement with Bank of America to resolve allegations of familial status and sex discrimination under the Fair Housing Act. 

“Dare To Compare”: Examining what’s changed since the 2019 spring housing market offers a helpful perspective on the 2022 spring season, FirstAm’s Mark Fleming argues.

Rams x Rocket: The Los Angeles Rams will operate their draft out of the Rocket Mortgage Draft House, a luxury Hollywood Hills home on a 67,000 square foot lot.

Shrinking Homes: Americans are buying smaller homes than they were at the height of the pandemic as rising prices and rates make each square foot more expensive.

Guild Mortgage: Guild Mortgage partnered with Home Depot for a program that bundles the cost of new energy-efficient appliances into their home loan.

Public Comment: MISMO is seeking public comment on a standardized questionnaire that borrowers would answer when applying for a commercial loan.

GOA: The GOA found that VA has made relatively few loans under its Native American Direct Loan program, and offered suggestions to boost its numbers.

Rebrand: Loan Factory announced a new corporate logo designed to strengthen its image and position itself as a FinTech company.