Morning Roundup (5/12/2022) – American Equity Shoots Up In Q1 2022

Good Morning! Today is Thursday, May 12. Food prices have increased 17 months in a row. The E.U. again failed to agree on an embargo of Russian oil. Senate Republicans blocked a Democratic bill to protect abortion rights.

The Mortgage Note Reports

Equity Shoots Up: Just under half of all mortgaged residential properties were equity-rich in Q1 2022, up to 44.9% from 41.9% in Q4 2021 and 31.9% in Q1 2021.

Commercial/Multifamily: Commercial and multifamily mortgage loan originations rose 72% YOY in Q1, but were down 39% from Q4 2021 due to seasonality trends.

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And in other mortgage and housing news…

Consumer Prices: Annual inflation moderated for the first time in months in April, but the Consumer Price Index still increased 8.3%.

Gen Z Destinations: Salt Lake City has the largest share of mortgages offered to Gen Zers, according to a LendingTree study of the most popular US cities for older Zoomers.

3D Home ToursZillow 3D Home tours now automatically appear on Redfin, without any additional effort from real estate agents.

“Something Big”: Lance Lambert argues in Fortune that April data shows the most competitive housing market ever is finally on the brink of breaking.

Facing Pushback: A conflict in a New York town shows how preservationists– cast as “anti-development”– are losing the fight against luxury real estate developers.

More Layoffs: loanDepot will lay off workers and suspend its quarterly dividend after a $91.3 million Q1 loss.