Daily Dose

CoreLogic estimates recent thunderstorm activity brought strong straight-line winds and tornadoes, causing substantial damage to property across the U.S., with areas reporting wind speeds in excess of 100 miles per hour and hail greater than four inches in diameter.

"We appreciate the continued support of the 21 insurers and reinsurers that have committed to write coverage for these deals," said Rob Schaefer, Fannie Mae VP, Capital Markets.

Spring is typically a busy homebuying season, but new listings of homes for sale are down 24% from a year ago, according to a new report from Redfin. The total number of homes for sale is also down nearly 10%, representing the biggest drop in over a year.

ATTOM has found that nearly 73,000 single-family homes and condominiums in the nation were flipped in Q1 2023, hitting the second-highest mark for home flippers this century.

NAR reports that existing-home sales recorded a slight gain of 0.2% to a seasonally adjusted annual rate of 4.3 million units.

Closing this latest MSR deal, Planet Home Lending has increased its overall servicing portfolio to $94 billion and its MSR book by 10.6%.

A new study from WalletHub revealed which cities throughout the nation are ranked the best and worst places to raise a family, with half of the top 10 best areas located in California, while Midwestern cities like Detroit and Cleveland came in last.

"Our Potential Home Sales Model increased modestly in May, but is still down 5.7% from a year ago,” said Mark Fleming, Chief Economist at First American. “The primary factor limiting housing market potential is existing homeowners staying put."

“After last quarter’s historic high of 2.47%, the reduction in Q4’s critical defect rate to a sub-2% level is encouraging and illustrates just how much the precipitous drop in origination volumes impacted lending operations,” said ACES EVP Nick Volpe.

The first month of the typically hot summer buying season produced less than stellar available home numbers, falling over 7% to a new record low.