Doom, Gloom, Kool Aid, And Warm Porridge

Mortgage rates finally broke the 8% ceiling this week after months of gradual upward movement in the 7% range. At the same time, Existing Home Sales fell to the lowest levels in more than a decade. Pretty gloomy... but there are silver linings and perhaps even some overly optimistic Kool Aid to drin

$9M Lender Settlement for Redlining in Jacksonville

Ameris Bank will settle with the Justice Dept. for $9M because it allegedly didn’t underwrite many mortgages in largely Black and Latino Jacksonville communities.

MBA: Commercial Loans to Drop 46% in 2023

The Mortgage Bankers Assoc. predicts a decline from 2021’s $816B to $442B this year as interest rates keep rising and supply/demand’s future remains murky.

More Californians Bypass Texas and Move to Fla.

Census Bureau: Fla. and Arizona welcomed more relocating Californians last year as Texas numbers dropped. In 2021, 37K moved to Fla.; in 2022, it grew to 50K.