Morning Roundup (3/11/25) – Ending Conservatorship
| Good Morning! Today is Tuesday, March 11. President Donald Trump warned of further arrests after a Palestinian activist at Columbia University was detained. Wall Street had its worst day of the year after suggestions that tariffs could cause a recession. Ukraine targeted Moscow with a major drone attack. The Mortgage Note Reports Ending Conservatorship: The fate of Fannie Mae and Freddie Mac is being debated as the new Trump administration lays out its priorities for the next four years. Chuck Green and Kimberley Haas have the story. Lock Volumes Improve: Rate-and-term refinances enjoyed a significant boost in February as rates moderated, though purchase demand remains depressed. PennyMac Leaders: Isaac Boltansky has joined PennyMac Financial Services as its new Managing Director, Head of Public Policy. |
| Quote Of The Day “Interest rate improvement, while marginal, is attracting refinance activity as homeowners who bought at higher rates work the numbers and find they can reduce their monthly payments or tap into home equity.” Brennan O’Connell, director of data solutions at Optimal Blue |
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In other mortgage and housing news… “Strong Appetite”: Gen Z is eager and ready to buy a home this year, but their tolerance for high interest rates and home prices is waning. Next Big Thing?: Tomo, branded as “low rates, no gotchas,” brought in $20 million in its Series B financing round, bumping its funding to $130 million. Push For Change: Realtor.com is launching Let America Build, a campaign lobbying for solutions that help bring down the national shortage of 4 million homes. Renting Benefits?: Renters in the Southeast who invest their savings are financially ahead of homeowners, in a typical case having an advantage of $31,000 over 10 years… Major Shift: …while this region has seen an uptick in rich renters, with Raleigh, NC, and Orlando, FL, leading in high-wealth individuals eschewing homeownership. |