Morning Roundup (1/15/25) – What’s Fair?

Good Morning! Today is Wednesday, January 15. The House passed a bill to bar trans athletes from female school sports teams. Michelle Obama will not attend Trump’s inauguration. South Korea’s president was arrested in the wake of his failed coup attempt. The Mortgage Note Reports What’s Fair?: The role of lenders in appraisal discrimination is under scrutiny as the cases involving Rocket Mortgage work their way through the court system. Editor Kimberley Haas has the story. Looking Good: New numbers show year-over-year growth in mortgage activity, offering a glimmer of hope for industry professionals as 2025 begins. Purchase, Refi Boost: Mortgage applications skyrocketed last week as both buyers and homeowners locked in rates before they moved any higher. New Go Team: Go Mortgage and Pacific Residential Mortgage completed their merger, officially unifying under Go. |
Quote Of The Day “Bond yields in the U.S. and abroad continued to move higher in response to concerns over a sticky inflation outlook and still too-high budget deficits, which pushed mortgage rates higher for the fifth consecutive week.” Joel Kan, MBA Vice President and Deputy Chief Economist |
In other mortgage and housing news… Inflation Data: The producer price index rose 0.2% in December, less than predicted, and core consumer prices rose 0.4% on the month, in line with expectations. LA Fires: JPMorgan Chase and Bank of America are preparing to ease mortgage repayment conditions for customers affected by the Los Angeles wildfires. Shake Things Up: Rockford, Illinois, has jumped to the top of Realtor.com’s Hottest Housing Markets for the first time ever, edging out forever-favorite Manchester, NH. Lashing Out: Three out of four Americans now feel that working over 40 hours a week is necessary to buy a home, and 67% are frustrated with prices in their local markets… Hanging On: …but three out of four people also believe homeownership is part of the American dream, and nearly two out of three cite it as a life goal. Investing In Soccer’s Future: Bank of America is the first Official Bank Partner of all 27 U.S. National soccer teams and a new training center in Atlanta. Aggressive Action: Spain’s leader proposed tackling the country’s housing crisis by axing its popular “golden visa” and instating a 100% tax on foreign homebuyers. |