Good Morning! Today is Tuesday, September 5. Burning Man festival attendees in Nevada were able to leave yesterday after being trapped by heavy rains. North Korea’s Kim Jong Un is planning to visit Putin in Russia to discuss weapons supplies. Volodymyr Zelensky removed Ukraine’s defense minister after accusations of financial mismanagement.
The Mortgage Note Reports
Deciding Factors: As natural disasters become commonplace in areas with high climate impact, more homebuyers are factoring climate risk into their decisions.
Where To Find Price Cuts: Home prices are up despite high rates pushing demand down, but in these ten metros, sellers are slashing prices.
ICYMI: Last week, writer Chuck Green wrote about the historical significance of the Fannie Mae and Freddie Mac conservatorships, which will celebrate their 15th anniversary tomorrow. Erin Flynn Jay reported on how the housing market is affected by inflation.
In other mortgage and housing news…
GSE Repurchase Worries: Loan-repurchase rates have been on the rise and are likely to keep trending up at a time when many IMBs are struggling.
Uncertain Times: Rates have surged to their highest point in more than two decades, fueling housing market uncertainty and slowing activity, HouseCanary reports.
NAR Update: NAR has thrown its support behind CEO Bob Goldberg as the group navigates sexual harassment allegations, including promises of a third-party policy audit.
State Of Rent: Rental markets in western states are seeing their premiums decline or come close to their historical trends as rent growth slows throughout the country.
“A Class Of Winners”: America’s high homeownership rates seem like a great thing, but being stuck in one house has surprising drawbacks.