Good Morning! Today is Thursday, September 9. Elizabeth Holmes’ trial starts today; she’s accused of defrauding investors and patients through her blood-testing company Theranos. Job openings in the US have leveled off after breaking records over the summer. Eighty percent of gas and oil production on the Gulf coast is still down after Hurricane Ida.
And in mortgage and housing news…
Rates Don’t Budge: Freddie Mac’s latest Primary Mortgage Market Survey found that mortgage rates held steady another week, up just .01% from last week to 2.88%.
Feminists, Former Employees Cry Foul Over Ishbia’s Big-Dollar MSU Player Stipends: UWM’s Mat Ishbia is paying $6,000/year in stipends to MSU football and basketball players — but only the men. Women’s advocates see sexism, while disgruntled workers say the money would be better spent on employees.
Down/Up: A new study by LendingTree found that the average down payment on homes across 50 major U.S. metros has reached $46,283.
Zombies In Foreclosure: Vacant “zombie” properties in foreclosure fell 7% in Q3, Attom Data’s Vacant Property and Zombie Foreclosure Report found.
Suggestion Box: The OCC is getting rid of the 2020 Community Reinvestment Act rule, and asking for public commentary through October.
K On Special: Freddie Mac is offering $745 million in K Certificates backed by floating-rate, SOFR-based multifamily mortgages with 10-year terms.
Open Your E-Wallets: UWM is going to start accepting Bitcoin in “the next couple of months,” President Mat Ishbia said, doubling down on the company’s announcement in August.
“Housing Is The Hardest Piece”: Many Afghan refugees are already in the U.S. and ready to re-start their lives, but the housing shortage is delaying the process.
Break It Down: FHFA released breakdowns of Freddie and Fannie’s single-family loan approval rate by race, ethnicity, and state.