|Good Morning! Today is Friday, September 3. The U.S. economy added just 235,000 jobs in August, far below economists’ expectations. The remnants of Hurricane Ida caused flash flooding in the Northeast, resulting in at least 45 deaths. Democrat Sen. Joe Manchin (W.V.) says he won’t support Biden-backed $3.5 trillion spending plan.|
And in mortgage and housing news…
Market Warming: The housing market is leveling out, with smaller, more affordable homes being listed and sellers pricing more competitively as 423,000 new homes go up for sale, according to Realtor.com’s August Housing Market Trends Report.
Heading For Normal: Signs of softening housing market and a leveling of mortgage interest rates have some industry observers asking if America is heading back to a ‘normal’ home-buying market.
SimpleNexus Approved: Fannie Mae and Freddie Mac have approved digital mortgage platform SimpleNexus as an eClosing solution provider.
REX Lawsuit: REX’s antitrust lawsuit against Zillow and NAR is moving forward after a district court judge denied a motion to dismiss the case.
Closing Time: In a purchase-heavy market, using tech solutions to up closing efficiency could be key to winning contracts, IDS National Sales and Marketing Director Matthew Mackey argues.
Unlicensed: A former unlicensed mortgage broker pleaded guilty to defrauding clients and lenders alike out of $4.7 million in mortgage refinancing proceeds.
“Dude-forward”: An ultra masculine penthouse claims to bring sleek, sexy Miami style to Indianapolis for a cool $6 million.