July Consumer News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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Top News In July Consumer Today - Breaking & Trending Today

Housing News, Appraisal, Broker Pricing, LOS to G/L Automation Products; FHA, USDA Program News; Renter Data

Inflation and price increases can be widespread and impact many, like gasoline or flour, or can be very specific and impact only a small portion of the population, like guitar strings or limoncello. Continued rent increases impact many, not the least of which are the roughly 50 million tenants themselves along with their potential loan originators who could help them finance a house. Word has it that owners stay in their homes 13 years, although this source says 16 years, whereas tenants stay in their rental about 3 years for a house and 2.5 years for multi-family/apartments. There is a lot of hope being placed by lenders in tenants who move into ownership, as volume stinks. According to Curinos, August 2023 funded mortgage volume decreased 26 percent YoY and increased 8 percent MoM. In the Retail channel, funded volume was down 31 percent YoY and up 8 percent MoM. The average 30-year conforming retail funded rate in August was 6.82 percent, 13bps higher than July and 124bps higher tha ....

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Natural Disasters, Employment Opportunities, Vendor Services; Weekly Jobless Claims

California is currently going through a heat wave (Sacramento set a temperature record on Tuesday at 116°), taxing the state's power grid as energy demand breaks records and power officials request homeowners to turn down their air conditioning. A break in the heat could come due to Hurricane Kay bearing down on the state, which would mean California may be trading the heat for flooding. Did you know that 66 percent of Americans don’t feel fully prepared for potential natural disasters, with many lacking key emergency preparedness items such as generators, emergency evacuation kits, and radios? You're more likely aware that the hot housing market continues to cool. Home sales are falling in response to rising interest rates and there’s still a mismatch of supply and demand. Fannie Mae reported that high home prices and mortgage rates weighed on housing sentiment in its August Home Purchase Sentiment Index (HPSI), which posted the sixth consecutive ....

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