Morning Roundup (6/13/2023) — Millennials Lag Behind

Good Morning! Today is Tuesday, June 13. Trump is expected to plead not guilty today to illegally keeping classified documents and obstructing government efforts to obtain them. The Senate will investigate the merger between the PGA Tour and LIV Golf. The F.T.C. sued to stop Microsoft from buying video game giant Activision Blizzard.

The Mortgage Note Reports

Another Buydown Program: Guild Mortgage has introduced a new 1% down, 1% one-year lender interest rate buy-down program.

Millennials Lag Behind: How do you get the largest cohort of possible homebuyers to actually find a house? Increasing inventory may be the only option.

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 Watch: The June FOMC meeting starts today. The CME FedWatch tool shows a 70% probability that the Fed will keep the benchmark lending rate unchanged.

Negotiating Your Mortgage: Of the 39% of homebuyers who say they negotiated the initial APR or refinance rate on their home purchase, 80% had success.

Speaking In Fundamentals: Based on traditional measures of sheetrock and framing that determine its worth the housing market is overvalued by 40%.

The Upper Hand: New-lease rents are poised to fall on an annual basis for only the second time since the 2008 financial crisis, giving renters new negotiation power.

“So Freaking Stressful”: Buzzfeed asked homeowners who gave up their houses in favor of renting why they went back. Here are their reasons.