Good Morning! Today is Wednesday, May 31. Theranos founder Elizabeth Holmes reported to prison to begin her 11-year sentence for fraud. Tara Reade, the former Senate aide who accused Biden of sexual assault, moved to Russia and said she was seeking citizenship there. The owners of Purdue Pharma will receive full immunity from all civil legal claims over its role in the opioid crisis.
The Mortgage Note Reports
Profit Margins: To home sellers who agonizingly watched the prices of their abodes recede recently, there’s little to say but “ouch.” But it’s not all bad news. Writer Chuck Green has the story.
Unsatisfied Shoppers: Americans who bought homes in 2023 are unhappy with their experiences and their new houses, saying they overpaid and compromised too much.
loanDepot’s C-Suite: Industry leader Alec Hanson has been promoted to Chief Marketing Officer at loanDepot.
Guest Voices: Investment banker Kurt Davis Jr. shares his opinions on the Federal Reserve, investment firms, and rising interest rates.
Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Listen to our 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…
Applications Fall: Mortgage applications decreased 3.7% from one week earlier, with both purchase and refis down due to higher rates.
Housing’s Impact: A Fed Governor says a housing market rebound where home prices level out could have a serious impact on the Fed’s inflation fight.
Corps Done Buying: Real estate investors purchased 48.6% fewer homes in the first quarter of 2023 than they did a year earlier, a record drop.
YIMBY Surge: A vast majority of adults support adding more homes, including apartments, to their neighborhoods in response to the housing affordability crisis.
Fake Or True?: How likely is a U.S. housing crash, really?