Mortgage Monday Newsletter | June 20th, 2022
Welcome to the Mortgage Monday Newsletter! Each week I will give you 1 Industry Insight, 1 Article to Read, and 3 Quotes to Ponder. I hope you enjoy, and if you do, feel free to pass it along to your friends!
Industry Insight
CoreLogic released their Q1 2022 Equity Report last week and it yielded some some interesting results. According to the report, homeowners on average gained $64,000 in equity last year. Another positive in the report is the total number of properties with negative equity fell from 1.4 million homes to 1.1 million, which accounts for 2% of mortgage properties in the US.
CoreLogic also forecasts another 5% in equity appreciation in 2022. That will decrease that number of depreciating properties as well.
This week will be important to see how the market responds to the housing news coming out this week. There will be some important levels of support that will be tested, so hopes are that they hold and steady the market. However, if they break through those levels, there is a lot of room to the downside, in the range of about 162bps.
*Today the market was closed due to the holiday. We will keep you updated and let me know if you need any real time bond market updates. Have a great week!
Article to Read
Quotes to Ponder
“When you buy something cheap and bad, the best you’re going to feel about it is when you buy it. When you buy something expensive and good, the worst you’re going to feel about it is when you buy it.”
– Sasha Aickin
“Conviction in our ideas is dangerous not only because it leaves us vulnerable to false positives, but also because it stops us from generating the requisite variety to reach our creative potential.”
– Adam Grant
“Bison run toward storms to get them over with quicker. Compared to cattle who run away from storms, which actually make them stuck in the problem longer.”
– Unknown