Morning Roundup (8/23/2023) — Helping Millennials Buy Homes

Good Morning! Today is Wednesday, August 23. The first presidential debate for the 2024 race is tonight at 9 p.m. Eastern Time. Donald Trump will not attend. Tropical Storm Harold made landfall south of Houston, pummeling Texas with heavy rains. India is the fourth country to land on the moon after a successful lunar mission.

The Mortgage Note Reports

Helping Millennials: Addressing affordability issues by allowing for creative living solutions may be the key to getting more Millennials into homeownership. Editor Kimberley Haas has the story.

Not Looking Good: Scotsman Guide asked mortgage pros how they expect to fare in the next six months. Their answers were tepid, with a focus on high rates.

New Home Sales: New home sales jumped by 4.4% in July, reversing from a downturn the month prior and driving home purchase activity for lenders.

In other mortgage and housing news…

Filling The Gap: The share of first-time buyers has hit 50%, the highest level in at least a decade, as current homeowners remain locked in by their low rates.

Still Soaring: U.S. mortgage rates keep going up, inching closer toward 8%.

“Goodbye Bathtub”: Homebuilders are axing features like dining rooms and bathtubs while expanding multi-use areas to produce cheaper, smaller homes.

Exploring All Options: Many homeowners are anxious about their financial futures but few are considering tapping their home equity to give themselves a boost.

“A Lot Of Leadership Training”: is making its public debut Thursday, but how the company performs may depend on the turnaround of its infamous CEO.