Good Morning! Today is Monday, June 6. Russian missiles struck Kyiv, the first attack on the capital in more than a month. A street brawl in Philadelphia this weekend turned into a mass shooting, killing three people. Rafael Nadal beat Casper Ruud in the men’s French Open final.
The Mortgage Note Reports
40-Year Mortgages Making A Comeback? Writer Scott Kimbler reports that they are popular again, but experts warn the risk may not be worth the reward.
Another Equity High: Home prices have risen 42% since the beginning of the pandemic and have gained 9% in value just since the first of the year, with equity reaching another all-time high.
MacArthur Promoted: Salisbury Bank and Trust Company has promoted Andrea MacArthur to Vice President, Mortgage Advisor.
And in other mortgage and housing news…
White Paper: Black Knight has released a white paper analyzing dwindling single-family home inventory in major markets across the United States.
Prices Still Down: In 477 cities, the typical home value at the end of April was below peak levels from the housing boom in the early 2000s despite the surge in home prices.
“We’re All Afraid”: Trailer park rents are doubling or tripling, as high demand, low inventory, and a rise in corporate owners take their toll.
PPP Loans: Real estate agents accounted for 300,000 PPP loans adding up to $3.9 billion, much of which hasn’t been paid back.
Crypto Investigation: How crypto giant Binance became a hub for hackers, fraudsters, and drug traffickers.
“Zombified ZIPS”: These zip codes have the highest numbers of zombie foreclosures, topped by Peoria, IL.
Up And Coming: Homebuyers who are priced out of Austin are turning to San Antonio, located about 80 miles southwest.