Morning Roundup (5/2/2024) — FOMC Holds Rates

Good Morning! Today is Thursday, May 2. The Arizona legislature voted to repeal the state’s nearly total ban on abortions. Manhattan prosecutors said they would retry Harvey Weinstein on sex crime charges after a court overturned his conviction. Senate Democrats reintroduced legislation that would legalize marijuana.

The Mortgage Note Reports

No Rate Change: As predicted, the Federal Open Market Committee will maintain its target range for the federal funds rate at 5.25% to 5.5%. Writer Patrick Lavery has the story.

Reigning Region: The Northeast and Midwest have gained buyer attention in recent months, but that could change as the South doubles down on affordable inventory.

MMI CFO: Mobility Market Intelligence named Ron Ross as its new CFO.

Opinion: Carly Peroutka at Equifax Workforce Solutions says proactive portfolio management helps responsible lenders navigate economic uncertainty.

In other mortgage and housing news…

FOMC Holds: What the Fed’s continued rate pause means for homebuyers and sellers.

Up, Up, And Up: For the first time in nearly two years, there is not a single American metro where home prices are falling.

Best Time Of Year: May, February, and April offer the highest seller premiums, making this month the best time to sell your home, ATTOM says.

Lawsuit Part 2: HomeServices was hit with another buyer suit just days after settling another for $250 million.

Company News: Xactus named Danielle Walker its new Senior Vice President of Business Development; Newfi expands EquityChoice to 16 more states.

FHA Protections: The FHA announced a new requirement for lenders allowing borrowers to request another appraisal if they believe the first was inaccurate or biased.