Morning Roundup (1/22/25) – Rocket Rebrand
| Good Morning! Today is Wednesday, January 22. President Trump ordered federal agencies to place diversity, equity, and inclusion officials on paid leave. Marco Rubio, the first member of Trump’s cabinet to be approved, was sworn in as secretary of state. A winter storm broke snowfall records across the Gulf Coast. The Mortgage Note Reports Rocket Rebrand: Company leaders say Rocket’s refreshed brand identity will help mortgage brokers and lender clients. Editor Kimberley Haas has the story. Holding Steady: Mortgage applications were basically stagnant last week despite a bump in purchase volume. MBA Promotion: Megan Booth has been promoted to VP of Commercial/Multifamily Policy for the Mortgage Bankers Association. |
| Quote Of The Day “Mortgage rates remained near 7%, a key psychological level, which likely continues to slow the pace of activity for both refinances and purchases.” Mike Fratantoni, MBA’s SVP and Chief Economist |
In other mortgage and housing news… Salary Needed: Renters need to earn $63,680 a year to afford a typical apartment, the lowest amount in three years. Still High: Rents for single-family homes are up 41% over pre-pandemic norms and multifamily rents have risen 26% in the last five years. Forbearances Down: The overall mortgage forbearance rate decreased slightly in December. Charge It: Two credit cards offer consumers rewards when they charge their housing payments. Mega-Mansion: This $285 million, 50,000-square-foot mansion in Florida will take three years to build. |