Morning Roundup (3/4/25) – Bessent’s View
| Good Morning! Today is Tuesday, March 4. President Donald Trump’s tariffs against Canada and Mexico went into effect today. The U.S. has paused military aid to Ukraine. The Senate confirmed Linda McMahon, a former wrestling executive, as education secretary. The Mortgage Note Reports Bessent’s View: U.S. Treasury Secretary Scott Bessent said that an early sign of the Trump administration’s success is the decline in mortgage rates. Acquisitions: Union Home Mortgage acquired Houston-based Nations Reliable. |
| Quote Of The Day “I think thus far, one of the biggest wins for the American people is — since Election Day and since the inauguration — mortgage rates have come down dramatically.” U.S. Treasury Secretary Scott Bessent on Fox News |
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In other mortgage and housing news… Look Out: For potential buyers facing the fallout from Trump’s tariff wars, here’s what to expect from mortgage rates. Changing Times: Brent Beardall, WaFd Bank president and CEO, discussed the bank’s big shift away from single-family mortgage lending. Company News: Brian Conneen joined Finance of America as Chief Information Officer, along with Karime Benaissa as Chief Customer Officer; SingleSource promoted Ashley Abbondanza to Chief Innovation Officer. Making The Move: This couple gave up their 2.75% mortgage to move from a condo to a new home and, despite the sticker shock, say they have no regrets. TV Philosophy: Do “Paradise” and “Silo,” with opposing takes on the future of urban organization, echo the debate over America’s housing shortage today? |