Good Morning! Today is Tuesday, July 11. Turkey said it would support Sweden’s bid to join NATO, clearing the way for the country to join the alliance. NATO leaders are meeting today in Lithuania. A landslide destroyed a dozen homes in Palos Verdes, CA, and parts of Vermont are experiencing flooding from unprecedented rainfall.
The Mortgage Note Reports
Future Homebuyers: American homebuyers are getting older and industry leaders are preparing to welcome more Hispanic homeowners in the coming decades. Writer Erin Flynn Jay has the story.
Rate Lock Gains: Mortgage originations saw a boost in June, but further improvement hinges on the Federal Reserve’s next move.
Power Couple: Software company Hawthorn River is teaming up with fintech BeSmartee to integrate its financial spreading product, FlashSpread.
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…
Clues From The Past: How far will commercial property prices fall and when will prices bottom out and recover? FirstAm looked at past data to find out.
“Worst In 11 Years”: Annual U.S. single-family home price growth slowed for the 12th straight month in May, falling to a 1.4% increase YOY, CoreLogic said.
NYC RAD Transaction: HUD announced it is devoting $1 billion to major upgrades for more than 2,000 affordable rental homes in the Bronx.
NAR Lawsuit Update: A lawsuit accusing NAR of racial and sexual discrimination and sexual harassment has been withdrawn, though the reasons are unclear.
Bad News For CA Homeowners: Farmers Insurance has limited new homeowners insurance policies in California, following the lead of other major insurance providers.