Morning Roundup (7/16/2024) — Rocket Speaks Up

Good Morning! Today is Tuesday, July 16. Donald Trump chose Senator J.D. Vance to be his running mate. Judge Aileen Cannon dismissed the criminal case accusing Trump of mishandling classified documents. Elon Musk has said he plans to commit around $45 million a month to a new pro-Trump super political action committee.

The Mortgage Note Reports

Rocket Fights Back: Leaders at Rocket Companies are speaking out after being charged with discrimination by the U.S. Department of Housing and Urban Development.

Tapping Home Equity: Rocket Pro TPO has rolled out a new promotion to help homeowners tap their equity without affecting their current mortgage rates.

Close Loans And Earn: Florida-based A&D Mortgage launched a new broker loyalty program offering redeemable points for loans closed of any type or size.

In other mortgage and housing news…

Election Outlook: Homeowners in swing states have seen their monthly payments nearly double since the last presidential election.

Listing Pile-Up: Home listings are piling up as buyers step back from the peak of home shopping season faster than normal, leading to a flood of price cuts.

“Better Than Expected”: Retail sales were flat in June, defying Wall Street’s prediction of a decline amid signs of slowing in the US economy.

Changing Price Dynamics: Annual price appreciation slipped despite home prices hitting another record high in June, the sixth consecutive month to see a cooldown.

Company News: loanDepot added a new home equity loan to its equityFREEDOM product suite.

Make Some Noise: Buyers and sellers don’t always know they can negotiate their agents’ commission fees. Speaking up can save them money.