Morning Roundup (3/6/25) – Good News, Bad News
| Good Morning! Today is Thursday, March 6. The CDC rescinded some terminations, calling 180 fired employees back. The VA plans to eliminate 80,000 jobs. The Trump administration rolled back tariffs for cars from Canada and Mexico. The Mortgage Note Reports Good News, Bad News: Mortgage applications finally benefited from cooling rates as dour economic outlooks pushed borrowing costs down. Spring Fever: Late May is the best time to maximize profits on a home sale as shoppers buckle down for a purchase before summer vacation. |
| Quote Of The Day “Mortgage rates declined last week on souring consumer sentiment regarding the economy and increasing uncertainty over the impact of new tariffs levied on imported goods into the U.S.” Joel Kan, MBA’s Vice President and Deputy Chief Economist |
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In other mortgage and housing news… Trump Ignores Federal Law: The Trump administration plans to eliminate dozens of housing offices, leaving 34 states without staff to underwrite mortgages despite a law requiring them in every state. Big Impact: As the Trump administration makes cuts, the FHA’s HECM program, which handles the majority of reverse mortgage business in the U.S., could be impacted. Break It Down: Over the last 17 months, only Northeast and Midwest cities have ranked in the top 20 hottest U.S. markets. What makes these markets sizzle? Company News: Floify named Sol Klein as head of client experience and business operations; Kortney Lane-Schafers is MMI’s new VP of Growth & Client Advocacy. Call For Comment: MISMO is seeking public comment on an enhancement to the Industry Loan Application Dataset (iLAD). Tech Update: Snapdocs introduced new capabilities to streamline the file review and trailing document processes for lenders. |