Morning Roundup (2/14/25) – Happy Valentine’s Day
| Good Morning! Today is Friday, February 14. Happy Valentine’s Day. The Senate confirmed Robert F. Kennedy Jr. as health secretary. The U.S. attorney in Manhattan and officials in Washington resigned over the Justice Department’s order to drop the corruption case against New York City’s mayor. The Mortgage Note Reports Diversification: The president at Constructive Capital sees an opportunity for mortgage brokers to expand into DSCR rental loans and residential transition loans. Editor Kimberley Haas has the story. Rates Down: Mortgage rates fell again, but their downward trend may not last much longer as January’s inflation data throws a wrench in the machine. More Stock, Fewer Buyers: As buyer demand pulls back, inventory is increasing, causing houses for sale to pile up on the market with nowhere to go. |
| Quote Of The Day “Recent mortgage rate stability is benefitting potential buyers, as purchase demand is stronger than this time last year. This is an indication that a thaw in buyer activity could be on the horizon.” Sam Khater, Freddie Mac Chief Economist |
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In other mortgage and housing news… Massive Layoffs: HUD plans to discharge 50% of its workforce, though the FHA will be excluded from the massacre. Employee Trouble: Redfin is laying off 450 employees by July after signing an exclusive listings partnership with Zillow. Not Buying Stuff: Retail sales slipped 0.9% in January from an upwardly revised 0.7% gain, far worse than the 0.2% decline analysts predicted. Company News: Mobility Market Intelligence has acquired MonitorBase, a borrower monitoring and predictive analytics platform. Earnings: Fannie Mae reported $4.1B in net income in Q4 2024 and $17B for the year. |