The Monday Show

SUMMARY: CPI Shows that prices fell in April but not as much as expected, food and shelter costs continue to show no signs of stopping, and mortgage demand surprises for the second week in a row with a slight increase week-over-week...

Sources:

• Inflation Falls, But Less Than Expected
• Mortgage Demand Up for Two Weeks in a Row

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Mortgage delinquencies hit a 23-year low, most of the credit scores of mortgage borrowers in Q1 were above 760, and the work from home revolution is wreaking havoc on Miami and maybe immigration policy...

Sources: 

• Delinquencies Drop to 23-Year Low
• Mortgage Originations By Credit Score
• Work From Props Up Rents But Not Immigration

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: As rates rose in April rate locks plummeted with refis seeing the biggest swings, new data shows that inventory levels are starting to rise but prices haven't been impacted yet, and consumers are apparently a little more optimistic about inflation...

Sources:

• Rate Locks Fall Over 20% in April
• Prices & Inventory Up for the Week
• Consumer Outlook on Inflation Falls in April

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: The Fed announced a 50 basis point rate hike along with a reduction in holdings by June 1st, Powell seemed concerned with the limited tools the Fed has to deal with this current inflationary environment, mortgage demand unexpectedly jumped for the first time in two months, and a record low number of Americans think it is a good time to buy a home...

Sources:

• Fed Raises Rates By 50 Basis Points
• Record Low in the U.S. Say It Is A Good Time To Buy
• Mortgage Demand Rises for the First Time in 8 Weeks

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Home price growth hit a 45-year high in March, the hot housing market is going to make the Fed's job to stop inflation harder, and the great resignation continues as job openings and quits each reached a new series high...

Sources:

• Home Price Growth Hits 45-Year High
• The Housing Market Makes The Fed's Job Harder
• The Great Resignation Continues

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: The pandemic has created extraordinary wealth for homeowners that could actually end up making more NIMBYs and Black Knight reports that home affordability is close to historic lows which is forcing wannabe homeowners to get creative to afford a home...

Source:

• Pandemic Housing Market Creates Extraordinary Wealth
• Home Affordability Close To Historic Lows

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Pending home sales fall less than expected but are still down for the fifth month in a row, the South continues to dominate the other regions even with a slight drop, and mortgage demand falls for the seventh month in a row thanks to mortgage rates that are up 200 basis points year-over-year...

Source:

• Adjustable-rate mortgage demand doubles as interest rates hit the highest since 2009
• Pending home sales tumble for fifth straight month

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: The Case-Shiller index reports home prices jumped 19.8% in February, the mountain region is the top region in February according to FHFA, and consumer confidence falls slightly in April as prices continue to rise...

Source

• Home prices jumped nearly 20% in February, but slowdown may be coming, S&P Case-Shiller says
• FHFA House Price Index Up 19.4% Year Over Year
• Consumer confidence slips in April, but Americans aren’t cutting back on spending

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Elon Musk officially buys Twitter and it probably won't have anywhere near the impact everyone thinks it will, Conor Sen writes that the tool to cause a housing slowdown is also hurting affordability, and Redfin & Altos Research all have data that shows things allowing, slightly, in housing...

Source

• Elon Musk Buys Twitter
• Homebuyer Competition Drops for First Time in Six Months Amid Surge in Mortgage Rates, Home Prices
• CONOR SEN: Don't Count On a Housing Slowdown to Improve Affordability

But wait, there's more...
SIGN UP: Markets & Mortgages  Morning Newsletter

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Mortgage rates climbed for the 7th week in a row and are now 214 basis points higher than one year ago, buying a home is still cheaper than renting (for now ) according to Redfin, over 50% of homeowners with a mortgage have a rate under 4%, and Fed Chair Jerome Powell says a 50 bip hike is on the table...

Source

• Mortgage Rates Stay Above 5%
• Over a Third of Homeowners Have a Mortage Rate Under 4%
• Asking Rents Climbed 17% to a Record High in March
• Fed's Powell Seals Expectations of Half-Point Rate Rise in May

But wait, there's more...
SIGN UP: Markets & Mortgages  Morning Newsletter

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201