Morning Roundup (7/18/2023) — Co-Buying Pros And Cons

Good Morning! Today is Tuesday, July 18. Canadian wildfires are again sending smoke into the northern and eastern parts of the country. A judge suspended Iowa’s abortion ban until courts decide whether it is constitutional. President Biden invited Benjamin Netanyahu, Israel’s prime minister, to the U.S.

The Mortgage Note Reports

Target Profit Control: Rocket Pro TPO has announced a new loan level pricing adjustment tool and their EVP says it is the result of listening to their partners’ feedback. Editor Kimberley Haas has the story.

Pros And Cons: Co-buying has gained popularity as Americans search for ways to afford a home, but for all its benefits, it can also come at a cost.

CMS Offerings: Carrington Mortgage Services expanded its offerings to include 40-year loans and temporary buydowns as homebuyers prioritize affordability.

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…

Retail Sales: Spending at US retailers rose in June for the third month in a row (+0.2%) but at a slower pace than last month and less than expected.

Prices Keep Going Up: Home price growth once again surprised to the upside, Fannie Mae said, and housing demand has proven resilient.

“We Got A Soft Landing”: The market has been way too hot, causing suffering for both buyers and sellers, but have we avoided a worst-case scenario?

Healthy Homes: Mortgage forbearances declined last month, which MBA attributes to homeowners focusing on their financial health.

Lack Of Movement: Just 1% of homes have changed hands this year, the lowest level in a decade. It’s even worse for large suburban homes.

Sacrifice For A Home: Nearly 40% of Americans say they have skipped meals in order to afford their house payment, especially Millennials, according to a new survey.