Morning Roundup (9/8/2023) — Rates Move Down

Good Morning! Today is Friday, September 8. An attack on the Russian navy was thwarted by Elon Musk, according to a soon-to-be-released biography. Two climate change protesters were arrested at the U.S. Open. Dangerous surf and rip currents are expected on the East Coast due to Hurricane Lee.

The Mortgage Note Reports

Rates Move Down: Mortgage rates dipped again last week but remain above the dreaded 7% threshold for a fourth consecutive week.

Equity Gains: Only 2% of borrowers were in negative equity in Q2 2023, 6.3% fewer than in Q1, and on-trend with numbers from the last two years.

Listen To Our Podcast: Learn about the challenges facing mortgage professionals and how they are overcoming them in today’s tough market.

In other mortgage and housing news…

Not Getting Better: US housing affordability remained at a record low in July as high mortgage rates and prices kept home ownership out of reach for many Americans.

How Long Will It Last: Home prices are picking up in some parts of the country, but researchers at FAU say it is doubtful prices will jump significantly in the future.

Bad Behavior: A July letter from the outside counsel investigating misconduct at NAR’s behest found evidence of ‘creepy’ and ‘disrespectful’ behavior long before recent claims.

“Couch, Car, Or Curb”: A patchwork of definitions for homelessness complicates efforts to help youth without permanent homes across the U.S.

Take A Look: Laurie Strode’s childhood home is up for sale in a cozy LA suburb, not Haddonfield, but still recognizable as the house in 1978’s “Halloween.”