Good Morning! Today is Thursday, September 1. The Mortgage Note will be off tomorrow and Monday for Labor Day weekend. Mary Peltola won a House special election in Alaska, beating Sarah Palin in an upset. U.N. nuclear experts crossed into the active buffer zone between the Russian and Ukrainian armies this morning.
The Mortgage Note Reports
Labor Day Blues: Workers are wondering what happened to the American Dream of earning enough from a nine-to-five job to buy their own home. Editor Kimberley Haas explains.
Pain Points: One in five borrowers report facing issues during the mortgage process. New research uncovers common problems they face and how to fix them.
New Tech: Staircase launched a new API that enables lenders and servicers to embed automated underwriting technology into any application and sync to their POS and LOS.
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In other mortgage and housing news…
FHLB Review: The FHFA announced it will conduct a comprehensive review of the Federal Home Loan Bank System beginning in the fall of 2022.
Housing Trend Report: The national inventory of active listings increased by 26.6% over last year, though the total inventory of unsold homes rose by just 1.3% YOY due to a decline in pending inventory.
Investor Outlook: Piper Sandler’s chief investment strategist said the housing market continues to be “a horrible risk-reward” due to rising interest rates and inflation.
Inflation Struggles: Millennial and Gen Z renters have personal inflation rates above 11%, compared with 8.5% for the typical American.
Best Markets: WalletHub compared 300 cities using 17 key indicators of housing-market attractiveness and economic strength to find the best real estate market.
Going PRO: ABS announced the release of The Mortgage Office PRO, a fully web-based upgrade that is more flexible, more powerful, and easier to use.
ShowingTime: Home showing traffic softened throughout the U.S. in July as the real estate market continues to normalize after last year’s record surge.
Living In Luxury: The Institute’s latest Luxury Market Report finds that though the market is definitely slowing, the appetite for high-end real estate remains strong.