Morning Roundup (8/22/2023) — Maui Response

Hello! Today is Tuesday, August 22. Former President Donald Trump says he’ll show up in Fulton County, GA on Thursday — the day after the first GOP presidential debate — to be arrested on charges related to the 2022 election. Dick’s Sporting Goods blames ‘increasingly serious’ theft problem for profit plunge. Tropical Storm Harold has made landfall in Texas as the first US landfall of the 2023 Atlantic Season.

The Mortgage Note Reports

Helping Maui: Federal housing officials have pledged to support people affected by the wildfires in Hawaii as the state’s governor warns developers to stay away. Editor Kimberley Haas has the story.

Luxury Life: Writer Nicole Murray explains that California continues to dominate the luxury homes market, but that could change as people move into lifestyle markets and smaller cities grow.

In other mortgage and housing news…

Jumbo Loans: Lenders aren’t competing as hard for jumbo loans after the Fed’s interest rate hikes and recent bank failures.

Bank Downgrades: S&P Global Ratings downgraded five regional US banks on Monday.

Up And Down: Home price appreciation continues to rise but purchase volume is down 30% YTD compared to 2019.

Taxes Affected: Property taxes continue to lag behind soaring real estate prices in most places.

Ditching IKEA: Furnishing a two-bedroom home with quality items of furniture can cost between $8,000 and $31,600.