Morning Roundup (6/16/2023) — Rates Respond To The Fed

Good Morning! Today is Friday, June 16. A tornado killed three people and injured at least 75 others in the Texas Panhandle. New Jersey is the first state to require that all grades learn about climate change. Jack Teixeira, the Air National Guardsman who shared U.S. intelligence in an online chatroom, was indicted on charges of mishandling secrets.

The Mortgage Note Reports

Rates Respond: Mortgage rates ticked down slightly, from 6.71% to 6.69%, the second consecutive week of declines and the result of the Fed pause.

Cenlar Hire: Industry vet Tom Donatacci is joining Cenlar as Investor Relations Officer.

ICYMI: 60% of mortgage professionals are living paycheck to paycheck, and although it feels like the market is stuck now, people will eventually give up their low interest rates and move again.

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…

Sales Up Ahead Of Peak Months: RE/MAX’s May housing report showed a 20% increase in home sales over April, as well as an 8.7% uptick in new listings.

Fraud Charges: HUD charged a group of people and firms related to HASNY with housing discrimination related to mortgage relief fraud.

LA Development Scam: A Los Angeles city councilmember has been charged after voting in favor of housing developments that made payments to his now-wife.

“Your Concerned Friends”: An unknown group in Australia is asking affluent homeowners to give up their vacation homes to help the housing crisis.