Morning Roundup (2/21/25) – Rates Down To 6.85%
| Good Morning! Today is Friday, February 21. A federal judge allowed President Trump’s mass firings to proceed. The administration has cleared out all of the migrants it sent to Guantánamo. News outlets urged the White House to lift its ban of The Associated Press. The Mortgage Note Reports Rates Down: Mortgage rates continue their slow downward trend, suggesting a stable environment heading into the spring buying season. VA Pain: The end of the VA’s foreclosure moratorium pushed starts and sales up in January, though delinquencies keep moving lower. |
| Quote Of The Day “The 30-year fixed-rate mortgage has stayed just under 7% for five consecutive weeks and in that time has fluctuated less than 20 basis points. This stability continues to bode well for potential buyers and sellers as we approach the spring homebuying season.” Sam Khater, Freddie Mac Chief Economist |
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In other mortgage and housing news… “Enormous Fear”: The housing industry is bracing for blows from Trump’s tariffs and layoffs at federal housing agencies, which are set to affect affordability. Backtracking: A HUD spokesman denied a report that the FHA will cut 40% of its staff but did not deny that layoffs are soon to hit the agency. More Cuts: A division of HUD that helps rebuild homes after disasters is set to cut more than 80% of its staff. CFPB Leaders: Former FHFA director Mark Calabria joined the OMB and will be detailed to help run the CFPB until Jonathan McKernan is confirmed as director. New Lawsuit: MA’s Attorney General sued Hometap, saying it offers unregulated reverse mortgages to vulnerable homeowners in violation of consumer protection laws. |