Morning Roundup (4/25/2023) — Surprise Sales Increase

Good Morning! Today is Tuesday, April 25. Fox News let go of on-air personality Tucker Carlson, while CNN and anchor Don Lemon parted ways. Biden formally announced his re-election bid. North Dakota’s governor signed a bill banning abortion after six weeks of pregnancy, even in cases of rape or incest.

The Mortgage Note Reports

Surprise Sales Boom: New home sales increased by more than expected in March but remain down significantly from last year.

And Surprise Price Gains: Home prices rose again in February, up 2% YOY and 0.2% from January, surprising analysts who expected a decline.

Is This Fair? Changes to fees for loans backed by Fannie Mae and Freddie Mac are under scrutiny after reports that homebuyers with good credit scores and substantial down payments will pay more starting May 1. Editor Kimberley Haas has the story.

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…

Free Loans: GPARENCY is now offering its members “Free Agency or CMBS Loans” where the lenders cover the mortgage broker fee, instead of the borrower.

Touchless Lending Upgrade: Tavant announced the launch of a new product, Asset Analysis, to Touchless Lending, their AI-powered digital lending platform.

“Can’t Catch A Break”: The market is so tight, not even lower mortgage rates will help potential buyers afford a home, Conor Sen argues in Bloomberg.

Rents Mirroring For-Sale: The most expensive U.S. markets are seeing YOY rental price declines, while rents in more affordable markets are growing at an even faster pace.

Help Is Here: The number of available homebuyer assistance programs increased in Q1 2023, creating more opportunities for those struggling with the affordability crisis.