Morning Roundup (3/12/25) – “Forever Changed”

ByTMN Editor Reading Time: 2 minutes
Good Morning! Today is Wednesday, March 12. The staff at the Education Department has been cut by nearly 50%. The European Union announced retaliatory trade action with new duties targeting Republican states. RFK told food companies that he intends to eliminate artificial dyes.

The Mortgage Note Reports

Forever Changed: It has been five years since the COVID-19 pandemic shutdowns began, and the commercial real estate sector remains forever changed. Writer Erin Flynn Jay has the story.

Predicting The Future: Mortgage applications increased for a second week as rates sank to 6.67%, but HUD staffing reductions are set to make borrowing more difficult.

February Locks: Mortgage lock volumes increased last month, but continued improvement depends on the economy moving into the spring buying season.
Quote Of The Day

“I can imagine [HUD staffing reductions] potentially leading to delays at all stages… These delays would ultimately lead to higher costs of mortgages.”

Ingrid Gould Ellen, director of housing and urban policy at New York University
Do you like receiving this newsletter?Forward it to a friend so they can sign up!

In other mortgage and housing news…

DOGE Cuts: Millions of dollars in contracts for affordable housing were canceled after a DOGE review of nonprofits’ websites for terms associated with DEI.

What’s Next?: Uncertainty over Trump’s constantly shifting trade policies has sent the stock market into a sharp dive, sparking concerns about fallout for the housing market.

HUD Leaders: Trump nominated Andrew Hughes to serve as Deputy Secretary of HUD. He worked in the department under Ben Carson during Trump’s previous term.

Earnings Report: loanDepot reported a Q4 net loss of $67.5 million, but said its originations increased 34% annually.

CPI: Inflation pressures eased in February, calming some fears about the health of the economy.

Credit Improvements: Mortgage credit availability increased in February for the third consecutive month to its highest level since March 2023.

Best Time To Sell: Sellers who list April 13-19 could potentially make $4,800 more, sell their home nine days faster, and have 13.2% less competition on average.