Morning Roundup (7/21/2022) – Doma, Angel Oak

Good Morning! Today is Thursday, July 21. Russia said that it might extend territorial claims over Ukraine to include parts of the south. A bipartisan Senate group introduced legislation intended to prevent the electoral tactics that Donald Trump tried in 2020.

The Mortgage Note Reports

Doma CFO: Mike Smith has been appointed Chief Financial Officer of Doma Holdings.

Angel Oak Expands: Angel Oak has opened five new branches in three states even as other non-QM lenders have faced challenges as the market begins to cool.

And in other mortgage and housing news…

Home Sales Drop: Existing-home sales fell for the fifth straight month, down 5.4% from May and 14.2% YOY, while the median price rose to $416,000, a record high.

Potential Sales: Potential existing-home sales dropped to a 5.47 million seasonally adjusted annualized rate, though the market remains historically strong.

Slowdown Incoming: Freddie Mac’s quarterly forecast predicts that homebuyer demand will moderate, rebalancing from red-hot to a more normal pace of activity.

AEI Housing Says: The 10-year-old seller’s market is continuing, as evidenced by modest purchase volume declines, tight supply, and the work-from-home revolution.

Helping Hands: The number of homeowner assistance programs available to help people finance homes rose by 1.6% in Q2 2022, up to a total of 2,273.

Rent Or Buy?: Rents have soared, but renting is still more affordable than buying an entry-level home in most of the country.

Take A Look: Here are three trends affecting the secondary mortgage market.