Good Morning! Today is Friday, July 14. The Screen Actors Guild is joining the screenwriters’ strike today, the first time in 63 years the two groups have been on strike at the same time. The F.D.A. approved the first over-the-counter birth control medication in the U.S. Extreme heat killed at least 10 people in Laredo, TX.
The Mortgage Note Reports
Staying Strong: Buyers waiting on the sidelines for home prices to drop may be out of luck this year as prices are predicted to hold up into 2024. Editor Kimberley Haas has the story.
Rates Rise: Interest rates closed in on the 7% mark last week, averaging 6.96% and pushing affordability further out of reach for many Americans.
Fraser At Anchor: Jim Fraser joined Anchor Loans as COO.
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…
Quarterly Reports: JPMorgan Chase, Citigroup, and Wells Fargo have shared their Q2 earnings.
“Encouraging Report”: The producer price index for June had a smaller-than-expected increase, the latest sign that inflation is calming in the United States.
Paying More For Less: Home shoppers are paying more for fewer choices as the absence of new listings takes its toll, Bright MLS says.
Talk With Bob: Fintech Beeline launched an AI chatbot named Bob that answers mortgage questions with its “signature twist of irreverence and playfulness…”
Harmful To Consumers?: …But AI is under fire this week as the FTC opened an investigation into OpenAI, the company behind ChatGPT, over its data security practices.
Throw Money At The Problem: Boston will offer 75% tax breaks on office-to-residential conversions in a bid to bring more housing to the city.