Morning Roundup (7/26/2022) – Hottest Rental Markets, Exceleras CEO

Good Morning! Today is Tuesday, July 26. Two aides to Mike Pence testified in the Justice Department’s Jan. 6 investigation. The pope apologized for Canadian church-run residential schools where Indigenous children were abused. Firefighters made progress slowing a wildfire near Yosemite National Park.

The Mortgage Note Reports

Hottest Rental Markets: Florida has taken the top spot as the most sought-after area for renters in 2022, followed by mid-size markets in the Northeast.

Exceleras CEO: Tom Simon has been named CEO of Exceleras, moving up from his position as Chief Experience Officer.

And in other mortgage and housing news…

FOMC Meeting: The central bank is expected to raise interest rates by 75 basis points, which many economists say is too dovish.

Pandemic Hotspots: Popular migration destinations where home prices soared during the pandemic are most likely to see a housing downturn moving forward.

Fed Impact: Dispirited homebuyers show how why the Fed’s fight against inflation is beginning to succeed, according to finance professor Mark Flannery.

AmTrust Settlement: AmTrust struck a deal with New york’s AG that it will end its “no-poach” agreement practices and pay the state $1.25 million.

Alternate Methods: Guild Mortgage will now evaluate rent and other consistent payment histories in place of traditional credit reports for home loans.

Baring It All: A Scottsdale, AZ mortgage broker pitched himself on “The Bachelorette” by offering to help the women get a good rate and wearing a cheetah-print Speedo.

Over The Border: Some San Diego residents are moving to Tijuana looking for affordable housing, hoping to increase their savings so they can buy a home.

Take A Look: The ten cities where home sellers are cutting prices the most.