Good Morning! Today is Wednesday, June 8. The EU will require new phones, tablets, and laptops to use the same charger by 2026. The trade gap in goods and services fell 19.1% in April from the prior month. Six members of a Haitian Special Olympics contingent are missing.
The Mortgage Note Reports
Metaverse Real Estate: Heads are turning after a $5 million virtual commercial real estate deal was announced. Editor Kimberley Haas and Writer Tyrone Townsend report on the current state of the Metaverse and how companies are using the space to profit from people’s avatars.
Loan Applications Plummet: Mortgage loan application volume fell by 6.5%, pushing MBA’s market index down to its lowest level in 22 years.
Single-Family Building: Construction of single-family homes fell across several market types in Q1 2022, with an especially large dip in large suburban markets.
And in other mortgage and housing news…
Parcel Funding: Parcel, an NFT marketplace for virtual real estate, has raised $4 million in a seed round led by Framework Ventures.
Commercial Woes: Commercial real estate is showing its first signs of cooling in more than a year, disrupted by rising rates that are already causing some deals to collapse.
April Home Price Gains: Home prices grew by 20.9% YOY in April, another new high, with Florida and Arizona again leading the country for appreciation.
No Bubble Action: 60% of housing experts polled by Zillow don’t believe the housing market is in a bubble, but they do expect a short recession by 2024.
Cuban real Estate: A flood of Cuban real estate is for sale as residents trying to avoid the country’s current economic turmoil attempt to raise funds to leave the country.
Mortgages In Law: A panel of judges on the 11th Circuit ruled that monthly mortgage statements can constitute communications in connection with the collection of a debt.