Morning Roundup (7/13/2022) – CPI, Loan Apps Down

Good Morning! Today is Wednesday, July 13. Scientists revealed images of stars and galaxies that had been too far away or too dim to see, including 13 billion-year-old light. One U.S. dollar is worth almost as much as a euro for the first time in nearly 20 years. Twitter sued Elon Musk to force him to go through with buying the company.

The Mortgage Note Reports

CPI Tops Predictions, Again: Inflation jumped by 9.1% YOY in June, more than analysts predicted and the largest gain since 1981.

Loan Apps Down: Mortgage loan application volume fell by 1.7% last week, and the average loan size fell to $415,000.

And in other mortgage and housing news…

UWM CFO: UWM CFO Timothy J Forrester died Sunday at 55 following “a valiant battle against cancer.”

Credit Availability Down: Mortgage credit availability fell by 0.3% in June, the fourth consecutive month of declines.

“Careful What You Ask For”: A new study finds that requiring homebuyers to pay real estate agents directly out of pocket would suppress buying opportunities for large segments of the population.

Fed Impact: Sylvan Lane on why the Fed is taking a hammer to the housing market.

New Rules: How to navigate the impact of the FHFA’s proposed 2% liquidity rule, which would require all non-depository seller/servicers to hold 2% of forward TBAs to meet minimum net worth requirements.

Motto In SC: Motto Mortgage has a new office in Greenville, SC.