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For some reason, companies laying off large numbers of people (most recently Better, Freedom, Mr. Cooper) make headlines, whereas shouldn’t the unusual, like companies that aren’t laying off anyone or who are hiring, be more newsworthy? There are indeed companies that are not laying off anyone, and in fact are hiring to take advantage of slow times. There is other good news. Despite inflation, elevated mortgage rates, and slowing sales activity, severely limited housing inventory will prevent large home price drops for most of the country next year according to NAR Chief Economist Lawrence Yun in his 2023 outlook. “For most parts of the country, home prices are holding steady since available inventory is extremely low. Some places are experiencing price gains, while some places, most notably in California, are seeing prices pull back… Housing inventory is about a quarter of what it was in 2008, distressed property sales are almost non-existent, at just 2%, a ....
The state of most commodity prices around the world? Prices are higher. What is the current state of donating blood? I tried donating blood again yesterday in San Luis Obispo, CA. Never again! Too many intrusive questions. ‘Whose blood is it? Where did you get it? Why is it in a bucket?’” The current state of the real estate market? Let’s see what these “rappers” have to say about it. The status of cryptocurrency mortgages is worth knowing. How about the current state of the jumbo biz? There’s more jumbo and non-Agency news below, but from the production perspective for many independent mortgage bankers (IMBs) it’s ugly as banks continue to use their ample deposits to price “under” market. (But if that’s where they’re pricing, isn’t that the market?) From an ops perspective, the #1 problem is disagreement about the income calculation. Of course there’s always the question about collateral& ....