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.