Good Morning! Today is Tuesday, July 25. Russian drones hit a Ukrainian town across the Danube River from Romania, striking close to a NATO country. The IRS will stop surprise visits to homes and businesses after a rise in threats to agents. Florida Gov. Ron DeSantis and members of his 2024 presidential campaign team were not injured in a car accident this morning in Tennessee.
The Mortgage Note Reports
Experts Weigh In: It is being speculated that once mortgage rates drop, there will be another surge in prices. Writer Erin Flynn Jay interviewed a number of industry leaders who say this is a real possibility.
Home Prices: Data released today shows national home prices slipped year-over-year in May but continue heating up in the short-term with month-over-month prices rising.
Northern Expansion: Leaders at Rocket Companies have announced Rocket Mortgage Canada has become a mortgage lender.
Another CL Exec At LD: Former CoreLogic exec Melanie Graper has been named chief human resources officer at loanDepot.
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…
Muddying The Waters: Rising home prices are complicating the Fed’s inflation fight and raising questions about how much further policymakers will have to hike interest rates.
Wacky Times: Morgan Stanley strategist James Egan says the mortgage rate lock-in effect is producing “one of the shortest and weirdest housing cycles ever.”
Not A Silver Bullet: Ending single-family zoning allows builders to invest in apartments and duplexes, but that doesn’t mean it will fix America’s housing crisis altogether.
“Heartbreak For Homeowners”: Just over 1,000 Vermont homeowners have reached out to FEMA for assistance after recent flooding destroyed their houses.
Priciest In History?: Vermont’s most expensive home for sale could be its biggest real estate transaction ever: a 345-acre lakefront compound listed for $26.2 million.