Good Morning! Today is Monday, July 10. President Biden met with British Prime Minister Rishi Sunak and King Charles while in Europe for a NATO summit. Pope Francis announced that he would choose 21 new cardinals in September, picking clerics from across the world. Heavy rain flooded the Hudson Valley, killing at least one person.
The Mortgage Note Reports
Home Prices Soar: Competition has returned full force to the housing market as demand for limited inventory pushed home prices up, especially in the West.
Agency Team-Up: NewDay USA announced a partnership with full-service marketing agency Moburst, which will spearhead its digital marketing efforts.
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…
Boomers Had It Worse: Though the housing market may seem impossible right now, it’s not the most unaffordable it’s ever been. Not even close.
Goal For The Future: Fortune reports that Morningstar made a “bold call” that affordability in the housing market will be restored by 2025, with rates falling to 4%.
Working For Affordability: Community land trusts are working to preserve neighborhoods and create new homeowners by just selling them a house, not the land.
“Remarkable”: HouseCanary says the housing market has shown unexpected resilience as listed and closed prices trend up.
Bachelor’s Paradise: LendingTree ranked the best cities for single men in the U.S.