Good Morning! Today is Wednesday, July 19. The temperature in Phoenix topped 110 degrees for a record 19th straight day. An Australian man was rescued with his dog after three months lost at sea. Former Secretary of State Henry Kissinger, who is 100 years old, made a surprise visit to Beijing.
The Mortgage Note Reports
Castle Auction: Bidding begins this week on a historic castle in Waco, Texas, that was renovated by “Fixer Upper” stars Chip and Joanna Gaines. Writer Nicole Murray has the story.
Starts And Permits: U.S. homebuilding fell in June, but a bump in single-family permits offers a glimmer of hope for buyers eyeing new construction this year.
Mixed Results: Mortgage applications increased again last week as rates cooled, though constrained inventory kept purchase activity down.
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…
Builder Sentiment: Homebuilder sentiment rose again in June as low inventory bolsters new construction, but builders warned that high rates are starting to hurt.
Challenges Far From Over: The housing industry’s biggest problem moving forward may be the bond market, specifically spreads between treasuries and mortgage rates.
Face Of The Meltdown: Angelo Mozilo, former CEO of Countrywide Financial and a key player in the subprime mortgage crisis, died Sunday.
Financing Fix & Flips: The co-founder of LendInvest launched F2 Finance, a real estate private lending business geared towards the fix and flip market.
Words Count: Go Mortgage is suing its ex-director over defamatory statements and other damaging actions that cost the lender millions.
Best Place To Start: WalletHub says Palm Bay, FL, is the best place for first-timers to buy a home, based on affordability and quality of life.