Morning Roundup (6/27/2024) — The Future Is Here

Good Morning! Today is Thursday, June 27. Donald Trump and Joe Biden debate tonight in Atlanta. A new poll shows Trump leading Biden by three points. Bolivia’s president survived a coup attempt.

 

The Mortgage Note Reports

The Future Is Here: Companies that use 3D printing technology can revolutionize how homes are built in America, according to the COO of ICON. Editor Kimberley Haas has the story.

Pending Sales Weak: Pending home sales unexpectedly fell in May, plunging to their lowest level ever recorded in NAR’s survey.

Company Launch: Top-producing LO Alex Rayner has teamed up with Service First Mortgage to launch a new company, Haymaker Home Loans.

In other mortgage and housing news…

“Believe It Or Not”: A new study suggests that the U.S. has a surplus of homes — but they’re completely unaffordable to the average buyer.

Seller Concessions: The typical home has been selling below its asking price in the last four weeks, the first time this has happened since the onset of the pandemic.

“Memphis Or Bust”: In Q1 2024, Memphis, TN, was the only market where the median renter could afford 50% or more of the homes for sale.

Company News: MCT integrated with Fannie Mae’s Mission Score API and new product grids; Paul Giangrande has been named corporate EVP and president of the EquiFi Mortgage Division; Craig Montgomery is now Chief Strategy Officer at Lower.

Racial Divide: The typical Black household can afford a starter home in just 10 of the 50 most populous U.S. metros, while white families can buy in 32.