Good Morning! Today is Tuesday, August 15. Donald Trump was indicted on 41 new counts, including racketeering and conspiracy. A Montana judge ruled in favor of young residents who sued the state over its lack of response to climate change. Russia’s central bank raised interest rates to try to stem the decline of the ruble.
The Mortgage Note Reports
Fear For Your Home: Maui already had a housing crisis before wildfires destroyed 3,000 homes. Now residents fear the island will be reshaped by developers and outsiders.
Builder Confidence: Builder confidence dipped in August, breaking a seven-month streak of increases, as high rates and shelter inflation put a dent in new home demand.
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…
GSE Stock Win: A federal jury has awarded Fannie and Freddie shareholders $612 million, saying the FHFA acted improperly when it bailed them out in 2008.
USB Settlement: UBS agreed to pay $1.4 billion over fraud and misconduct in its offering of residential mortgage-backed securities during the global financial crisis.
“Chasing Realtors”: Rocket is adding 500 LOs to target real estate agents around the nation, breaking in another way consumers can engage with the company.
Retail Sales: US retail sales rose in July by more than forecast, suggesting consumers still have the wherewithal to sustain the economic expansion.
Money Above All: Many Texans and Floridians surveyed by Redfin would prefer to live somewhere abortion is legal but stay in those states for their affordability.