Morning Roundup (9/25/2023) — Real Buying Power Down

Good Morning! Today is Monday, September 25. Striking Hollywood writers reached a preliminary agreement with studios. House Republicans remain split on spending, leading the government closer to a shutdown. The F.B.I. is investigating police abuse at a “torture warehouse” in Louisiana.

The Mortgage Note Reports

Real Buying Power Down: As home prices spike and interest rates stay elevated, affordability has fallen to its lowest point in more than three decades.

Homebuyer Education: KeyBank and non-profit Operation HOPE have teamed up to empower underserved Americans on their homebuying journeys.

College Coworking: As the future of traditional office spaces remains unclear, the coworking industry is seeing growth, and college students could boost this market.

In other mortgage and housing news…

Four Shocks At Once?: Can the U.S. economy withstand strikes, the possibility of a government shutdown, student loans, and oil price increases all at the same time?

On Deadline: Home purchase closings could collapse in some regions if the government fails to reauthorize the National Flood Insurance Program by Sept. 30.

Branches Closed: JPMorgan Chase has closed 14 First Republic Bank branches in California, completing its shutdown plans after taking over in May.

Pricier Than Cities: LendingTree looked at home values in the most expensive U.S. towns, which rival cities in price due to restricted inventory and second-home buyers.

“Unconscionable”: Older adults are now the fastest-growing segment of America’s homeless population as rent and inflation force them out of their homes.