Morning Roundup (3/20/25) – FOMC Holds Rates
| Good Morning! Today is Thursday, March 20. President Trump plans to sign an executive order for the shutdown of the Education Department. Officials detained a Georgetown scholar from India, who is in the U.S. legally on a student visa. Finland was once again ranked the happiest country in the world. The Mortgage Note Reports FOMC Action: The FOMC held interest rates steady, citing Trump’s economic policies for its decision. Patrick Lavery has the story. Sales Surprise: Existing home sales rebounded unexpectedly last month, surprising analysts as buyers took advantage of cooling rates and rising inventory. Machine Intelligence: Truework rolled out a fully automated and comprehensive income and employment verification platform. |
| Quote Of The Day“ The new Administration is in the process of implementing significant policy changes in four distinct areas… While there have been recent developments in some of these areas, especially trade policy, uncertainty around the changes and their effects on the economic outlook is high. As we parse the incoming information, we are focused on separating the signal from the noise as the outlook evolves.” Fed Chairman Jerome Powell on the FOMC’s Rate Hold Decision |
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In other mortgage and housing news… FOMC Aftermath: Stagflation is “the most dangerous term in housing” and would be the “worst-case scenario,” according to one expert taking the economy’s temperature. CRE Update: Commercial mortgage delinquency rates increased in Q4 2024 and 2025 could bring even more challenging conditions. The Real Scoop: Some Americans say they want the housing market to crash because they think it would lower home prices and property taxes. Does that make sense? Company News: Equifax launched a new solution that delivers credit reports with an indicator of employment status earlier in the mortgage qualification process. Cold Feet: House hunters are touring homes and applying for mortgages as rates stay below 7%, but prospective buyers aren’t always following through with a purchase. Young Cities: Gen Zers are buying homes in these affordable Midwest metros. |