Morning Roundup (2/6/25) – Scott Turner To Lead HUD
| Good Morning! Today is Thursday, February 6. President Trump signed an executive order barring transgender women from competing in women’s sports. Thousands of people protested against Trump’s policies across the U.S. Lara Trump, his daughter-in-law, will host a weekend show on Fox News. The Mortgage Note Reports HUD Leader: Former NFL player Scott Turner has been confirmed as the 19th Secretary of the U.S. Department of Housing and Urban Development. Rate Change-Up: The rate lock-in effect is slowly melting as 17.2% of homeowners now have mortgage rates greater than or equal to 6%, the highest share since 2016. |
| Quote Of The Day “Homeowners have been holding off, waiting for mortgage rates to go down or market conditions to improve, and now it seems clear rates have declined about as much as they’re going to decline for now.” Joe Paolazzi, Pittsburgh Redfin Agent |
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In other mortgage and housing news… Helping Or Hurting?: Websites like Zillow and Redfin use algorithms to churn out volatile home price estimates that aren’t always accurate. Is it time to regulate them?’ “Report With Teeth”: One of the final reports issued by the CFPB under Rohit Chopra outlines how state-level enforcement authority can be bolstered to protect consumers. Crunching Numbers: Owning a home is more affordable than renting across the U.S., ATTOM says, but both remain a financial burden. Buyer Help: Down Payment Resource found a growing number of programs for manufactured and multi-family homes as buyers face continued unaffordability. Company News: Jason Biegel joined the Fay Group as President of Capital Markets Group; D2 Asset Management hired Former Freddie Mac CEO David Brickman. Best Guess: MarketWatch surveyed experts on where they think rates will go in February. Most said rates will be just below 7%. |