Morning Roundup (5/16/2024) — Starts And Permits

Good Morning! Today is Thursday, May 16. The prime minister of Slovakia was shot and wounded. Vladimir Putin arrived in China for a summit with Xi Jinping. President Biden and Donald Trump agreed to two debates, in June and September.

 

The Mortgage Note Reports

Starts And Permits: Residential construction saw mixed results in April, with starts rising while permits fell, as builders approached the high-rate environment with caution.

Closing Guarantee: Chase Home Lending increased its Closing Guarantee from $5,000 to $20,000 in a bid to entice buyers.

Opinion: Nathan Kadisha, founder and principal of K3 Holdings, writes that affordable housing policy should create mutually beneficial solutions for landlords and tenants.

 

In other mortgage and housing news…

“Mixed” Foreclosure Data: ATTOM reported a general downtrend in foreclosure starts and filings, but also an increase in completed foreclosures.

Nationwide View: Pending home sales are down 4.3%, the biggest decline in roughly three months.

CFPB Safe: The Supreme Court has rejected a conservative-led attack that could have undermined the Consumer Financial Protection Bureau.

Fear Of Renting: Many prospective homebuyers fear the long-term consequences of renting and feel they’re not making a long-term investment in their future.

Company News: Farmer Mac named two new directors; Michael Turturro joined OCMBC; Dark Matter Technologies appointed former Ellie Mae exec Vikas Rao as deputy chief product officer.

Inflation Variables: WalletHub compared 23 major metros across two key metrics related to the Consumer Price Index to see how individual cities are faring.