Morning Roundup (6/28/2024) — Rates Down To 6.86%

Good Morning! Today is Friday, June 28. The Supreme Court temporarily let women in Idaho get emergency abortions when their health is at risk. Israel and Egypt agreed to let sick children leave Gaza for medical treatment. Lightning near Fresno started wildfires that are spreading in California.

 

The Mortgage Note Reports

No Savings, No Problem: Little and no money down programs are being offered by mortgage lenders, but do these programs disincentivize buyers who would otherwise feel pressure to put cash aside for a house? Writer Erin Flynn Jay has the story.

Rates Down: Mortgage rates inched down to 6.86% last week, a small change but their lowest level in nearly three months.

Happy Birthday, FHA: The FHA is celebrating its 90th birthday, and its impact on U.S. housing finance has been significant, both positively and negatively.

In other mortgage and housing news…

Skipped: Last night’s presidential debate was light on housing commentary despite voters wanting to hear the candidates’ ideas for affordability.

Outsized Impact: Cheap mortgages are forcing millions of U.S. homeowners to stay put. That is becoming a problem well beyond the property market.

Supporting The Troops: Fintech Halcyon will donate proceeds from every transaction for active military members or veterans to military-focused charities.

Company News: Dominion Financial launched a third-party origination program for mortgage brokers; Total Expert announced a partner marketplace geared towards marketing teams in the financial services sector.

HBMS 2.0: Ginnie Mae released its “HMBS 2.0” term sheet, which offers specifics about its plan for reverse mortgage-backed securities, and asked for public input.

“Surprising Upside”: The “Sandwich” generation—adults who simultaneously care for their kids and parents—say their position in the middle has helped them buy a home.