| Good Morning! Today is Friday, July 7. The first three days of this week were the hottest in Earth’s recorded history. The U.S. may provide Ukraine with controversial cluster munitions which are banned in many countries. OceanGate said it would suspend its operations after the submersible implosion last month. The Mortgage Note Reports Rates Soar: Mortgage rates jumped 10 bps in one week to 6.81%, their highest point of the year so far. Direct Impact: As the affordability crisis worsens in the U.S., pushing housing costs across cost-burdened thresholds, many Americans may experience homelessness. 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… Root Cause: Experts say the rise in homelessness keeps going up, despite money and resources flooding in, due to the lack of affordable housing. Homepoint Suit: Homepoint is suing seven correspondent lenders for $4.6 million, claiming they breached contracts by failing to cure loan defects or repurchase the loan. It All Feels The Same: Fannie Mae says consumer sentiment about the housing market may have plateaued, stuck at a relatively low level. “Nothing Has Changed”: Zillow and Redfin gave up on flipping homes, but Opendoor CEO Carrie Wheeler says she is committed to the model. |
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