Good Morning! Today is Monday, September 11. Today is the 22nd anniversary of the 9/11 terror attacks. An earthquake in Morocco has killed more than 2,000 people. Apple is expected to release a new iPhone tomorrow. A trial to determine if Google abused its monopoly in online searches will begin this week.
The Mortgage Note Reports
Motivations For Moving: Return to the office mandates and the continued desire for a better quality of life are affecting Americans as they decide where to move in 2023. Writer Erin Flynn Jay has the story.
Out With The Old: As mortgage rates are locking homeowners in their current houses, many are investing in renovations rather than moves.
MCR Done: To improve and streamline credit access to qualified borrowers, the FHA is getting rid of the Mortgage Credit Reject screen.
In other mortgage and housing news…
One Bubble, Two Bubble: Fannie and Freddie ignore much of what borrowers with college debt owe, allowing them to qualify for mortgages and fueling a housing bubble.
Soft Landing Possible: Fed officials are increasingly optimistic they can stick a “soft landing” and are preparing to hold rates steady at the September FOMC meeting.
Insurance Spiral: Increasing premiums and reduced availability of homeowners’ property insurance in CA and FL could have far-reaching effects on housing markets.
“Blame The Boomers”: Analysts at Barclays say that the millions of aging Americans are helping to push up demand for homes by forming households later in life.
New York Living: This $75 million two-floor condo in Manhattan has a bird’s-eye view of Central Park.