Good Morning! Today is Monday, May 8. Britain’s King Charles III was crowned on Saturday. A gunman killed eight people at a mall in Texas, and a driver plowed into a crowd of migrants near the Texas border, killing at least another eight. Biden is meeting with Speaker Kevin McCarthy this week to try to end the debt ceiling standoff.
The Mortgage Note Reports
Flipping The Narrative: Tradition dictates that April and May are the hottest months for the housing market, but there are unique opportunities in parts of the country where that isn’t necessarily the case. Chuck Green has the story.
Optimistic Outlook: Consumers are more optimistic that the housing market will turn in their favor in the coming year, though affordability continues to weigh them down.
More GPT For Lenders: Document automation platform Ocrolus has integrated OpenAI’s GPT into its AI-powered tech.
Spring Update Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers. Check out our spring podcast for the latest.
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.
What are you seeing this spring homebuying season? We want to know. Email us at [email protected].
In other mortgage and housing news…
Republic First Bows Out: Republic First Bancorp announced it would reduce its lending presence in New York City and exit mortgage originations entirely.
Black Knight Says: Purchase locks fell across the board in March despite marginally lower rates as reluctant buyers face a continuing stock shortage.
Throwback: Last month, Forbes highlighted the four Washington women leading HUD, the FHA, Ginnie Mae, and FHFA.
Zoom In On Lumber: Lumber prices are a “tell” on the health of the housing market and investors should be paying close attention, one analyst argues.
LiteSpeed In Spanish: LenderLogix’s POS LiteSpeed now offers a Spanish version of the residential loan application to better support borrowers.
Live Like Royalty: In honor of the coronation, check out these U.S. castles for sale.