Morning Roundup (8/29/2022) – Economic Development, HomeGuide President

Good Morning! Today is Monday, August 29. A series of volunteer battalions formed in recent weeks across Russia is preparing to deploy to Ukraine. Abbott Nutrition said it will resume production of its leading baby formula.

The Mortgage Note Reports

“It Would Defy Logic”: Consumer advocates are asking U.S. regulatory bodies to block TD Bank’s takeover of First Horizon Bank.

HomeGuide President: Industry veteran Tim Carroll has been named Venture President at HomeGuide Mortgage.

Economic Development: Acting Comptroller of the Currency Michael J. Hsu toured South Carolina’s Lowcountry to gain insight into the financial needs of rural communities on Friday.

Do you have an opinion you would like to share? Email Editor Kimberley Haas at [email protected].

And in other mortgage and housing news…

Jackson Hole: Jerome Powell doubled down on his vow to crush inflation in his first in-person talk since 2019, saying the FOMC’s “overarching goal” is to get inflation to 2%.

Work Experiences: As “quiet quitting” takes social media by storm, Forbes unpacks what the different generations want and expect from their workplace.

Prices May Vary: Real house prices are up 53.3% YOY in June, setting another new record for fastest annual growth, as price moderation varies hugely from market to market.

Homes Still Moving: The Realtors Confidence Index shows homes are still moving at a fast pace even as sales contract due to limited inventory.

“Credit Invisible” Buyers: Mortgage lenders can help potential buyers with “invisible credit” unlock their data and bridge the generational housing gap.

Chicken, Egg: Are investors fueling rapid home price growth, or are they flooding the market because of those price gains?

Gen-Z Dreams: A new survey finds that 78% of Americans think a housing crash is coming, and 84% of Gen Z respondents say they’re hoping for it. Here’s why.

Rent Nightmare: The median U.S. rent topped $2,000 in June for the first time ever; now data shows 3.8 million renters teetering on the edge of eviction.

Take A Look: These 10 metros had the biggest gains in purchase mortgages.