Morning Roundup (4/24/2024) — Dutch-Style Mortgages

Good Morning! Today is Wednesday, April 24. The Senate passed a foreign aid bill that requires ByteDance to sell TikTok. President Biden won Pennsylvania’s Democratic primary. Tennessee’s legislature passed a bill to allow teachers to carry concealed handguns on school grounds.

The Mortgage Note Reports

Dutch-Style Mortgages: The Dutch offer home mortgages with interest rates that go down automatically as the loan gets paid off. Writer Erin Flynn Jay finds out if they could work in America.

Apps Sink: Mortgage applications declined last week as rates soared to a new high, giving ARMs a boost as borrowers consider ways to save.

AI Technology: Rocket Mortgage launched Rocket Logic – Synopsis, an enhancement that listens to, analyzes, and transcribes client calls to anticipate and solve the needs of clients.

In other mortgage and housing news…

“Steep Fall-Off”: Commercial mortgage borrowing fell by nearly 50% in 2023 compared to 2022 thanks to higher rates and CRE uncertainty.

Case Ruling: The U.S. Supreme Court gave California a major opportunity to lower housing costs by challenging excessive fees.

No More Noncompetes: The FTC voted to ban noncompetes nationwide, saying it would increase competition, but legal challenges are expected.

Company News: Mr. Cooper announced two new senior leaders; appointed Lisa Larson as its new Chief Strategy Officer; Truv integrated with BeSmartee.

House Hunt: dug through Indianapolis home listings to find basketball superstar Caitlin Clark a home she could afford on her new WNBA salary.