Morning Roundup (9/10/2024) – Immigration’s Impact

Good Morning! Today is Tuesday, September 10. Donald Trump and Kamala Harris will debate tonight at 9 pm EST. Catherine, the Princess of Wales, said she had completed chemotherapy. Actor James Earl Jones died at 93.

The Mortgage Note Reports

Immigration’s Impact: Recent surges in immigration have pushed demand for rental housing and the effects will be felt for years to come. Editor Kimberley Haas has the story.

Get Ready: The first week of October is 2024’s best time to buy as a lackluster spring and summer shopping season comes to a close.

Keep In Touch: Fintech Haven introduced Haven Wallet, a program that allows lenders to continue interacting with borrowers through the life of the line.

In other mortgage and housing news…

Credit Improvement: Mortgage credit availability increased in August to its highest level since 2022, driven by increased cash-out refinance and non-QM programs.

Refi Boom: August saw a 109% increase in rate/term refi volume on the month and 300% YOY in response to a 31-basis-point drop in the benchmark 30-year rate.

Niche Research: LoanPASS announced the launch of LoanCOMPASS, a tool designed to help secondary market teams quickly find niche loan products. 

Company News: loanDepot appointed Nancy Smith as Regional VP for Colorado and Wyoming; Xactus integrated with ACES Quality Management.

Upcoming Event: Registration for the AEI Housing Center’s 13th Annual Housing Conference is open, Nov. 20-21.

“It’s Nearly Impossible”: Young people are struggling with the high cost of living and can’t afford homeownership — and they’re skeptical that either Trump or Harris can fix it.