Morning Roundup (9/12/2023) — Credit Invisible

Good Morning! Today is Tuesday, September 12. The House returns today after weeks of recess. Trump’s lawyers asked the judge in his federal trial to recuse herself, accusing her of bias. Flooding in Libya killed 300, while 5,000 are still missing.

The Mortgage Note Reports

Credit Invisible: A case study by FormFree highlights how one of the nation’s largest independent mortgage lenders is serving the credit invisible. Editor Kimberley Haas has the story.

Rate Lock Loss: Mortgage activity dipped in August as rates reached new highs and inventory remained low, with rate locks down 1.5% from July.

Flyhomes & HSA: Cash offer fintech Flyhomes announced it is acquiring “buy before you sell” leader Home Sale Assured.

In other mortgage and housing news…

Prices Rebound: U.S. home prices rose 2.5% YOY in July, and will increase by 3.5% in the next year, CoreLogic reported.

Something’s Gotta Give: One real estate investor thinks the housing market will experience a “Black Swan” event within the next year due to affordability pressures.

Divvy Layoffs: Divvy Homes is letting 95 employees go, including senior managers, in its third round of layoffs in the last twelve months.

Affordability Roadblock: Natural disasters and crime are being blamed for property insurance hikes that are frustrating builders of much-needed new apartment buildings.

Good News For Buyers: New listings rose 4% in August as the end of summer drew near, a typical seasonal change that gives fall buyers more new choices.