Morning Roundup (9/23/2022) – Rates Shoot Up, CFPB Asks For Public Input

Good Morning! Today is Friday, September 23. Iran state television is reporting that at least 26 are dead due to the protests taking place over a woman’s right to choose what clothing she will wear, including the mandatory hijab. Fox News is reporting Americans have lost $4,200 in income under President Biden. Russia has started orchestrating and staged voting in occupied Ukraine territories.

The Mortgage Note Reports

Rates Shoot Up: Mortgage rates jumped by a quarter point this week in the wake of another 75-point rate hike from the Central Bank, up from 6.02% to 6.29%.

Input Wanted: The Consumer Financial Protection Bureau wants the public to weigh in on ways to improve the mortgage process for homeowners who would benefit from refinancing.

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In other mortgage and housing news…

“The New Weird” In Housing: Home prices increased 1% in the last two weeks, reversing 11 weeks of declines even as mortgage rates soared past 6%. 

Fidelity CHRO: Fidelity National Financial announced Melissa Circelli will join the company as Chief Human Resources Officer.

Don’t Get Too Excited: Rents finally fell, but they’re still elevated and affordability remains a serious challenge.

CCM Solution: CrossCountry Mortgage introduced a new fixed-rate second loan for homeowners looking to cash in on their equity.

Education’s Impact: How connected are homeownership and education, really? FirstAm’s REconomy Podcast dives into the impact of student debt relief on housing.

$1 Rent?!: It’s real– this German community hasn’t raised rents in 500 years.