Morning Roundup (3/24/25) – Foreclosure Forecast
| Good Morning! Today is Monday, March 24. DOGE took over the U.S. Institute of Peace’s building after an hours-long standoff. Russian and U.S. officials are meeting in Saudi Arabia to discuss details of a limited cease-fire in Ukraine. Wildfires in North Carolina more than doubled in size, prompting evacuations. The Mortgage Note Reports Foreclosure Forecast: Foreclosure activity could rise in 2025. Writer Erin Flynn Jay talked to industry leaders to find out what that might look like. FHA Pain: FHA mortgagees are struggling to keep up with their payments, accounting for 90% of new delinquencies in February despite making up 15% of all mortgages. Youth Movement: Young Americans seemed to be on track to overcome all obstacles and achieve homeownership, but new data suggests they’re losing their momentum. |
| Quote Of The Day “Homeownership is still a symbol of success and stability for many Americans, but the nation’s culture is shifting with the economic times.” Redfin Chief Economist Daryl Fairweather on Young Homebuyers |
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In other mortgage and housing news… Will He Or Won’t He?: Scott Bessent said the GSEs could be released from conservatorship if doing so doesn’t push up borrowing costs. Here’s a breakdown of five scenarios and what they would mean for mortgage rates. Builders Beware: Shares of Lennar tumbled last week as the homebuilder’s CEO warned of a weak housing market offset better-than-estimated quarterly results. Tough Times: Southern states, led by Mississippi, Louisiana, and Alabama, had the highest share of mortgage application denials in 2023, according to a new study. Dream Homes: Remodeling and repair expenses are expected to hit $608B in 2025 as homeowners find it too expensive to move. Market March Madness: MRC ranked the housing markets of 64 madness-bound universities to find the best for both buyers and sellers. The Lexington, KY Wildcats came out on top. |