Morning Roundup (3/21/25) – Federal Land For Housing
| Good Morning! Today is Friday, March 21. Detentions of European tourists at the border have sparked travel fears. The Pentagon will brief Elon Musk on the U.S.’s plans for a potential war with China. Heathrow Airport in London stopped all operations because a fire nearby caused a power outage. The Mortgage Note Reports Hot Topic: Developing federal land for housing could become a reality under the new Trump administration and industry leaders are discussing what that should look like. Editor Kimberley Haas has the story. Surprise: Mortgage rates ticked up for a second week after the Central Bank held rates, but analysts expect more movement as the year progresses. Fairway Leaders: Industry veteran Amy Slotnick has been promoted to President of National Branch Optimization- Sales at Fairway Independent Mortgage. |
| Quote Of The Day“ We still anticipate slight easing by the central bank later this year, which may help mortgage rates to come down.” Realtor.com Senior Economist Joel Berner |
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In other mortgage and housing news… Officials Axed: The top executives at Freddie Mac, along with a top HR official at the FHFA, were fired Thursday, HousingWire reports. Appraisal Action: The FHA rescinded three appraisal policies concerning fair housing considerations, a Trump administration effort to reduce regulation, the agency said. Typical Demand: Zonda says new home sales last month were down but still classified as “average” historically. Company News: Finance of America appointed Andrew Essex and former U.S. Senator Cory Gardner to its Board of Directors. ICE First Look: The national delinquency rate edged up 5 bps to 3.53% in February, up 19 bps from a year ago but still 32 bps below where it was entering the pandemic. Be Prepared: This breakdown in the National Law Review explains some litigation risks for lenders face now that the CFPB has been pared down. |