Good Morning! Today is Tuesday, June 7. The U.S. Securities and Exchange Commission is preparing to propose rule changes that could reshape how the stock market operates. Johnson & Johnson is terminating its vaccine supply deal with Emergent BioSolutions, as each accused the other of breaching the contract. Prime Minister of the United Kingdom Boris Johnson survived a no-confidence vote over reports that he attended parties during lockdown.
The Mortgage Note Reports
Bad Time To Buy: Only 17% of consumers believe it’s a good time to buy a home as rising interest rates and high home prices push many buyers out of the market.
Opendoor Roll-Out: Opendoor launched a new financing app that the company claims allows consumers to get pre-approved for a mortgage in under two minutes.
And in other mortgage and housing news…
Fire Risk: The typical high-fire-risk home sold for $550,500 in April, while the typical low-risk home sold for $431,300 as Americans move to riskier areas.
Foreign Investment: Foreign investors have a strong appetite for U.S. homes, and this article breaks down where they own the most homes.
“Good Policies”: The housing and real estate worlds should focus on the adoption of housing policies that create ROI, reduce inflation, and help working people find housing, according to Roger Valdez, Director of the Center for Housing Economics.
EasyKnock Partnership: EasyKnock has partnered with Marketplace Homes to provide customers with the flexibility to sell and remain in their current homes while completing the construction of their dream homes.
MCT Rate Lock Indices: Total mortgage rate locks by dollar volume decreased 10.6% in May, and total lock volume is down 29.5% from a year ago.
Broker Confidence: Broker confidence increased in May, but only by a little bit, according to RISMedia’s Broker Confidence Index.
Mission Report: The FHFA released its inaugural Mission Report, the latest in its effort to provide access to financing for targeted economic development and affordable housing.
Remembering Dr. Nothaft: CoreLogic announced that its Chief Economist Dr. Frank Nothaft died suddenly over the weekend.