Record home sales decline

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 💰 Home sales drop by 35% in November 

Home sales fell 35.1% year over year in November on a seasonally-adjusted basis—the largest decline in Redfin’s records that date back to 2012.

Home-price growth also lost momentum. The median U.S. home-sale price rose just 2.6% from a year earlier, the smallest gain since May 2020, when the onset of the coronavirus pandemic brought the housing market to a near halt.

👀 Waters seeks a review of Black Knight acquisition

Maxine Waters, Chairwoman of the House Financial Services Committee, has called on regulators to carefully assess the $13 billion proposed acquisition of Black Knight by Intercontinental Exchange (ICE).

In a letter to the Federal Trade Commission (FTC), Waters expressed concerns that the merger could lead to decreased competition and negative consequences for consumers, including higher prices.

💲 Mortgage rates drop for the sixth straight week, falling to 6.27%

Mortgage rates in the US have continued to decrease, with the 30-year fixed-rate mortgage averaging 6.27% as of December 22, according to Freddie Mac.

This marks the sixth consecutive week of decreasing rates and brings them back to levels seen in mid-September.

However, while rates have dropped significantly in the past six weeks, data indicates that homeowners are hesitant to list their homes, as more than two-thirds of current homeowners have a fixed mortgage rate of below 4%.

📝 loanDepot wins preliminary injunction against CrossCountry Mortgage

The court found that there was a likelihood of success on loanDepot's claims, including misappropriation of trade secrets, and enjoined CrossCountry and the six former employees from accessing, using, or reproducing certain loanDepot documents and data, and from contacting or soliciting certain loanDepot customers.

The court also enjoined these individuals and anyone acting in concert with them, including CrossCountry, from these actions.

🔔 Union Home Mortgage acquires Amerifirst

Union Home Mortgage acquires Amerifirst Home Mortgage, strengthening its presence in Florida, Michigan, California, Ohio, and North Carolina.

The acquisition brings together two leading USDA Rural Development lenders in Midwest.

Chart of the day

❗️ Florida Fastest-Growing State

After decades of rapid population increase, Florida now is the nation’s fastest-growing state for the first time since 1957, according to the U.S. Census Bureau’s Vintage 2022 population estimates.

Florida's population increased by 1.9% to 22,244,823 between 2021 and 2022, surpassing Idaho, the previous year’s fastest-growing state.

Meme of the day

 That’s all folks! See you after the holidays!

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