Good Morning! Today is Wednesday, June 7. The PGA Tour and Saudi Arabia’s LIV Golf are merging. Chris Christie, former governor of New Jersey, entered the presidential race. Atlanta’s City Council voted to approve funding for “Cop City,” a police training facility that sparked years of protests.
The Mortgage Note Reports
“Massive Game Changer”: As AI continues to dominate news headlines, real estate leaders are speaking about what this wave of technology means for the future of their market. Editor Kimberley Haas has the story.
Rates, Applications Drop: Mortgage applications fell for a fourth consecutive week, down 1.4%, even as rates retreated from near-7% highs.
FHL SF Hire: Jennifer Schachterle has been appointed SVP of Sales and Business Development of the Federal Home Loan Bank of San Francisco.
Spring Podcast: TMN’s team has been tracking national trends and the ways companies are attracting buyers and sellers to the market. Listen to our podcast.
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…
“More Of The Same”: The housing market was expected to thaw by summer but now, with inventory still low and rates still high, it’s looking as tepid as spring.
Perception Is Everything: Consumers continue to believe it’s a bad time to buy but a good time to sell, and overall they don’t expect that to change in the near future.
Home On Home: The housing market is so broken that many 40- and 30-something millennials have no choice but to build homes in their parents’ backyards.
Migration Report: Renters have bucked the West and South as their favored regions, moving instead to the relatively inexpensive North and Midwest.
Spending Cash: One-third of homebuyers are paying in cash, the highest level in nearly a decade, as high rates deter those who need mortgages.
Fraud Alert: The US Court of Appeals upheld the convictions of a Florida man in one of the first federal appeals involving COVID-19 relief fraud.