Morning Roundup (5/24/2024) — Rates Fall

Good Morning! Today is Friday, May 24. U.S. Senate Republicans blocked a border security bill. Demonstrators at U.C.L.A. took over a campus building before police dispersed them. Louisiana passed a bill that would designate abortion pills as controlled substances. There will be no newsletter on Monday in recognition of Memorial Day.

The Mortgage Note Reports

Rates Fall: Average mortgage rates dipped below 7% for the first time in over a month, giving buyers some breathing room as they navigate a high-priced housing market.

Delinquencies Improve: April brought continued delinquency improvements, with serious delinquencies reaching their best level in nearly 20 years.

In other mortgage and housing news…

Company News: Truity Credit Union is the latest financial institution to sign on to the Empower loan origination system from Dark Matter.

Calculating Totals: “Mortgage underwriting and home appraisals should account for energy costs. Here’s why.”

Financial Freedom: One homeowner lays out why she chose to pay off her mortgage with a 2.75% interest rate rather than invest the extra money.

Interior Outlook: Williams-Sonoma CEO Laura Alber explained how her decorating- and furniture-based company handles a tough housing market.

Famous Homes: A judge in Tennessee has blocked a foreclosure sale of Elvis Presley’s Graceland compound after his granddaughter sued to stop it.