Morning Roundup (6/14/2023) — Applications Flip
| Good Morning! Today is Wednesday, June 14. Donald Trump entered a not guilty plea and was fingerprinted in a Florida court yesterday. Author Cormac McCarthy died at 89. The Olympic sprinter Tori Bowie died of complications from childbirth, an autopsy found. The Mortgage Note Reports Rate Watch: All eyes are on the Federal Reserve as industry leaders speculate about what the FOMC will do concerning rate increases. Applications Flip: Mortgage applications turned around after four weeks of declines, up 7.2%, as rates moderated near-7% highs. Mortgage Pros Laid Low: More than half of all mortgage professionals are living paycheck to paycheck, contending with rising inflation and a cooling market. 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… Comerica Out: Comerica is planning to exit the mortgage banker finance business by the end of the year, in a bid to improve its loan-to-deposit ratio and capital efficiency. Fighting Language Barriers: HUD made more than 30 single-family mortgage documents available in Chinese, Korean, Spanish, Tagalog, and Vietnamese. Free Housing Data!: ATTOM released its latest Housing News report, with information across a variety of industry topics including new tech and tax analysis. Lock-In: Nearly every American with a mortgage has an interest rate under 6%. Credit Stress: Mortgage credit availability dropped by 3.1% in May, the third month of declines, to its lowest level since January 2013. |
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