| Good Morning! Today is Thursday, July 6. Instagram has launched Threads, its short-posting text app, as a competitor to Twitter. Yusef Salaam, one of the Central Park Five, won the Democratic primary for a City Council seat in Harlem. Federal health officials urge older people to get new vaccines for Covid, flu, and R.S.V. before winter. The Mortgage Note Reports Last Week’s Gains Gone: After an uptick last week, mortgage applications sank again, falling to their lowest level in a month as rates surged. FirstAm Change-Up: Jody Mulkey has been named CTO at First American. 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… FOMC Mindset: Some Fed officials support raising rates in June, favoring an increase because inflation and economic activity have proven resilient. Prices Soar Again: The average home is selling above asking for the first time in nearly a year, as low inventory and steady demand are buoying home prices. “A Long Process”: Much has been made of the viral Airbnb collapse tweet, but the end of short-term rentals wouldn’t actually fix the housing crisis. Who Profits?: Homebuilder stocks are soaring as homeowners stay put, with shares of PulteGroup up about 70% so far this year. Growing Crisis: In response to increasing homelessness across the U.S., HUD is making its largest-ever single-year investment in homelessness response systems. America’s Most Expensive: California is home to all ten of America’s most expensive housing markets, but all saw prices drop since last year. |
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