Morning Roundup (4/4/25) – Rates Slip
| Good Morning! Today is Friday, April 4. Wall Street is approaching bear market territory as stock prices fall in the wake of Trump’s tariff policy. JPMorgan analysts raised their forecast for the odds of a 2025 recession to 60%, up from 40% before Trump’s announcement. OPEC says it is increasing oil production even as prices fall. The Mortgage Note Reports Rates Slip: Mortgage rates dipped a little lower last week but remained firmly in the mid-6% range. How they’ll change under Trump’s sweeping tariffs is still up in the air. Help Is Here: Americans worry they’ll never be able to afford a home, but those who buy say knowledgeable loan officers helped boost their confidence. |
| Quote Of The Day “[R]ates have been benefiting from the market chaos that’s been hurting stocks, and stocks got hurt quite a bit over the past 24 hours.” Matthew Graham, Mortgage News Daily |
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In other mortgage and housing news… Jobs Report: Nonfarm payrolls increased by 228,000 in March, up from the revised 117,000 in February and better than the Dow Jones estimate for 140,000. “Shift Away From Banks”: Private credit companies are eyeing the $50 trillion housing market, as buyers clamor for non-traditional loans in light of high rates. What’s Next: As mortgage rates continue to slide, four industry pros give MarketWatch their views on where borrowing costs are headed. Company News: Guaranteed Rate Affinity appointed Lynne Haney as Vice President of Mortgage Lending. New Digs?: HUD is considering relocating from its current headquarters on the National Mall due to the building’s aging condition and high maintenance costs. No Confidence: New listings hit their highest March level in three years, rising 10.2% annually, but nervous buyers aren’t jumping at fresh stock. |