Good Morning! Today is Thursday, May 25. A Twitter malfunction caused twenty minutes of glitches for Ron DeSantis’s presidential announcement. President Biden is expected to nominate the Air Force chief of staff to become the country’s most senior military officer. Tina Turner died at 83.
The Mortgage Note Reports
Handing Out Freebies: More than 40% of home sellers are giving concessions to buyers as home shoppers shy away from the pricey market.
Delinquency Improves: The overall mortgage delinquency rate fell to a record low in March, while serious delinquencies dropped to a 23-year low.
Mortgage Fee Fight: Changes to fees for loans backed by Fannie Mae and Freddie Mac continue to be a hot topic as Republicans push to repeal them. Editor Kimberley Haas has the story.
Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Check out our spring podcast.
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.
In other mortgage and housing news…
FOMC Minutes: Federal Reserve officials were divided at their last meeting over whether to pause interest rate hikes or keep going.
Shopping Around: The CFPB said price dispersion across lenders means borrowers could save $100 a month or more by shopping for a slightly lower rate.
New Life: Chicago is leading the adaptive reuse movement with LaSalle Street renovations and it’s one of the largest office-to-residential conversions in the nation.
Jobless Claims, GDP: New economic data show a rise in jobless claims that was lighter than expected and a higher revision to gross domestic product growth.
Policy Check: What would housing look like during a Ron DeSantis presidency?
Empty Houses: The number of vacant “zombie” foreclosures rose for the fifth straight month but remains a tiny share of homes in the U.S.