Morning Roundup (5/28/2024) — NAR Settlement Update

Good Morning! Today is Tuesday, May 28. Closing arguments in Donald Trump’s criminal trial begin today. OpenAI announced that it had started training a new A.I. model and created a new safety committee. An Israeli strike killed at least 45 Palestinian civilians.

The Mortgage Note Reports

NAR Settlement: With changes expected to take place this summer, agents say the National Association of Realtors settlement already affects how they do business. Writer Nicole Murray has the story.

Big Improvement: Q1 2024 brought a significant profitability upswing for independent mortgage banks as production losses simmered down from previous quarters.

Mele Out: Dave Mele, long-time president of Homes.com and a driver of its acquisition by CoStar Group, is leaving the company and the real estate industry altogether.

In other mortgage and housing news…

Out Of Reach: As interest rates stay high, the American Dream of affordable homeownership remains unattainable for longer—and maybe for good.

Your Home’s “True Cost”: Homeowners spend nearly $18,000 a year on expenses other than their mortgages each year, causing many to have financial regrets.

“Silent Second Mortgage”: United Wholesale Mortgage is offering 0%-down-payment mortgages for first-time home buyers. But there’s a catch.

Think Carefully: When does making extra payments on your mortgage make sense? For this couple, it may be better not to pay early.

Monthly Savings: As home values have risen, many homeowners who put very little down upfront may no longer need to pay PMI.

Check This Out: Here are four types of homes that buyers would normally avoid but could now be attractive thanks to low inventory.