Lenders are refinancing borrowers who took out intermediate ARMs 3, 5, or 7 years ago and whose rates have gone up. Some here in Las Vegas, walking around humming this tune while at the ICE and Lender Toolkit event, will say that adjustable-rate mortgages are a gamble that paid off from 1982 through 2021 but not now. Las Vegas is packed, and yesterday I asked the kid working behind the counter at McDonalds if the Shamrock Shakes were made with fresh shamrocks. He left to go ask the manager. Yikes. Mickey D’s employees make $14-17 an hour, certainly under the area’s median income. I mention this because 1,200 miles to the north, in Vancouver, BC, for a lesson in affordable housing, the Squamish First Nation has reserve land in the heart of Vancouver and is using its authority to build large, dense, affordable urban housing via an 11-tower, 6,000-apartment development over 10 acres of land. Many NIMBYs in the beachfront neighborhood next to the reserve are upset about the development. And that’s not all: The Musqueam, Squamish and Tsleil-Waututh Nations are planning a 12-tower project on the west side. (Found here, this week’s podcast is sponsored by Visio Lending. Visio is the nation’s premier lender for buy and hold investors with over 2.5 billion closed loans for single-family rental properties, including vacation rentals. Today’s has an interview with Gateway First Bank’s Steven Plaisance on priorities for mortgage executives and the importance of advocacy groups.