Morning Roundup (2/18/25) – Luxury Home Demand Picks Up
| Good Morning! Today is Tuesday, February 18. The Social Security Administration’s acting commissioner stepped down over DOGE efforts to access sensitive recipient information. Russia released a 28-year-old American it had detained on marijuana charges. Pope Francis remains hospitalized with a respiratory infection. The Mortgage Note Reports High-End Homes: Luxury sales are making headlines as demand for high-end homes picks up in certain areas. Writer Nicole Murray found out what these buyers are looking for right now. Rent Rewards: Rocket Mortgage introduced closing cost credits designed to help renters overcome the high price of homeownership. DP Assistance: The Federal Home Loan Bank of Chicago committed $46 million in funding for its 2025 Downpayment Plus grant programs. |
| Quote Of The Day “Much like the groundhog seeing its shadow, we expect the housing winter to persist in the face of elevated mortgage rates.” Mark Fleming, chief economist at First American |
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In other mortgage and housing news… Changing Patterns: The share of home purchases made in cash fell to a three-year low as the total number of all-cash purchases dropped to its lowest level in a decade. Focus On Savings: Renting remains more affordable than buying a home in every U.S. metro except Detroit and Pittsburgh, which have the lowest median listing prices. Indirect Attack: Are mass government layoffs tied to the Trump administration’s plan to lower mortgage rates? Colin Robertson mulls the possibility. Company News: Stavvy integrated ICE’s Encompass into its platform; RiskSpan enhanced prepayment forecasting accuracy for non-QM loans with a new model. Best Of The Best: NMN teamed up with Best Companies to rank the top mortgage companies to work for in 2025. Price Gains Cooling: House price growth saw its slowest pace since June 2023 last month amid elevated mortgage rates and rising inventories. |