Morning Roundup (8/29/2023) — Prices Rising

Good Morning! Today is Tuesday, August 29. A United Nations panel determined that children have a right to sue their countries over climate change. Donald Trump’s federal trial on 2020 election interference is set to begin on March 4. Florida officials ordered mandatory evacuations in some counties as Hurricane Idalia approaches.


The Mortgage Note Reports

Prices Rising: Data released today shows annual home price gains were stagnant in June but continue heating up in the short term, with month-over-month prices rising.

Fariba At CSS: Mortgage securitization administrator Common Securitization Solutions has named Farhad Fariba EVP and Chief Technology Officer.

In other mortgage and housing news…

“Urban Doom Loop”: A commercial real estate apocalypse — especially in midsize cities — could spiral into the broader economy.

Parcell Resigns: Two days after The New York Times reported about alleged rampant sexual misconduct at NAR, President Kenny Parcell has stepped down.

Late Summer Blues: US consumer confidence fell by more than forecast in August as an uncertain economic outlook and lingering inflation curbed optimism.

Nepo Market: Nearly 40% of homebuyers under 30 are using family money to cover their down payment as the affordability crisis sidelines the average young adult.

“Great American Ripoff”: Avoiding a 30-year mortgage can save you hundreds of thousands of dollars across the life of your loan.