Morning Roundup (2/7/25) – Rates Fall Again
| Good Morning! Today is Friday, February 7. Trump imposed sanctions on the International Criminal Court. A federal judge issued an injunction to block Trump’s effort to end birthright citizenship. A plane carrying 10 people went missing off the coast of Alaska. The Mortgage Note Reports Rates Cool: Mortgage rates slipped further last week, but homebuyers have yet to rush back to the market thanks to house prices and tough winter weather. MBA Leadership: Matthew Gallant joined the MBA as Director of Member Relations, overseeing its portfolio of residential member companies in the Northeast. |
| Quote Of The Day “One of the key factors behind this dip [in rates] is an unseasonably harsh winter, which has temporarily slowed homebuying activity. As we move into early spring, with improved weather and potentially lower rates, demand should rebound.” Samir Dedhia, CEO of One Real Mortgage |
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In other mortgage and housing news… Jobs Report: Treasury yields rose on new data showing job growth slowing more than expected in January while wage growth increased more than anticipated. “Goldilocks For Housing”: These are the houses that renters never want to leave— renters are staying put in three-bedroom properties for ten years. Rate Upgrade: Click n’ Close’s shared appreciation mortgage now features a 30-year, fixed-rate conventional option approved by Freddie Mac. CoreLogic HPI: The national home price gain was 3.4% YOY in December 2024, down from the 5.6% growth recorded in the final month of 2023. Company News: Pennymac launched a full-service Non-Delegated solution, NonDel+. Delinquent Loans: The delinquency rate for mortgages on one-to-four-unit residential properties rose in Q4 2024 to 3.98% of all loans outstanding, up 6 bps from Q3. Bigger In Texas: Faced with a population explosion driven by newcomers, Texas homebuilders are racing to build enough supply to support demand. |