Morning Roundup (9/6/2023) — Renters By Choice

Good Morning! Today is Wednesday, September 6. Covid hospitalizations and deaths are on the rise. Federal judges rejected another congressional map in Alabama that failed to comply with orders to create a second majority-Black district. The coach of Spain’s women’s soccer team was fired in the wake of a sexual harassment scandal.

The Mortgage Note Reports

Renters By Choice: Build-for-rent communities have been growing in popularity as the housing landscape changes in the United States and predictions for the now niche market look promising. Editor Kimberley Haas has the story.

Applications Dip: Mortgage applications dipped again last week after a brief spike, continuing their downward slog despite rates cooling 10 bps to 7.21%.

Rogers At MBA: Prominent political player and lobbyist George Rogers has joined the Mortgage Bankers Association as VP of legislative affairs.

Display Of Extravagance: Mat Ishbia’s building his dream home in Michigan and it’s raising eyebrows.

In other mortgage and housing news…

CRE Lending: With interest rates high and commercial property prices declining, CRE credit remains tight and lenders don’t expect it to loosen any time soon.

Another Motto Office: Motto Mortgage opened a new office in Locust Grove, Georgia, to serve the GA, FL, and TX markets.

Lawsuit Settlement: Real estate giant Anywhere has reached a settlement agreement in two of the major class action antitrust lawsuits facing the housing industry.

Merger Complete: ICE closed its controversial $11.9 billion deal to buy Black Knight after the FTC dropped a lawsuit challenging the purchase.

Losing Money: Roughly one of every eight homes that sold in San Francisco in the last few months was purchased for less than the seller bought it for.