New Home Sales Experience ‘Surprising’ Boost
Read the full story →
Real Estate News
In March 2025, U.S. new single-family home sales surged by 7.4% to a seasonally adjusted annual rate of 724,000 units, marking the highest level since September 2024. This unexpected uptick was driven by a temporary decline in mortgage rates to 6.65% and a focus on smaller, more affordable homes. The median new home price dropped 7.5% year-over-year to $403,600, indicating a shift towards cost-effective housing options.
Regionally, the South led the charge, accounting for about two-thirds of the sales. Inventory levels also rose to 503,000 units, the highest since November 2007, providing more options for prospective buyers. However, the economic outlook remains uncertain due to fluctuating trade policies and rising construction costs.
Loan Officer Takeaway: The surge in new home sales presents an opportunity to collaborate with builders focusing on affordable housing. Highlighting financing options for smaller homes can attract budget-conscious buyers.
Mortgage Rates Continue Lower
Read the full story →
Mortgage News Daily
As of April 24, 2025, the average 30-year fixed mortgage rate decreased slightly to 6.92%, continuing a gradual downward trend. This decline is attributed to improved bond market conditions and reduced volatility. Despite the decrease, rates remain elevated compared to historical lows, and affordability challenges persist for many buyers.
The bond market’s stabilization has provided some relief, but economic uncertainties, including inflation and trade policies, continue to influence rate movements. Experts suggest that while rates may fluctuate, significant decreases are unlikely in the near term.
Loan Officer Takeaway: Use this period of rate stabilization to educate clients on the benefits of locking in rates and explore refinancing options for those who secured higher rates previously.
Fired First American CEO to Receive $18.6M Payout
Read the full story →
Scotsman Guide
Ken DeGiorgio, the former CEO of First American Financial Corp., is set to receive a severance package totaling $18.6 million following his termination. The payout includes $7.24 million in severance pay, approximately $9.1 million in accelerated vesting of restricted stock, and around $2.2 million from a supplemental executive retirement plan. DeGiorgio was dismissed after an alleged assault incident aboard a Caribbean cruise ship.
Despite the circumstances, the termination was classified as “without cause,” making DeGiorgio eligible for the severance package. This situation highlights the complexities and legal considerations companies face when handling executive misconduct.
Loan Officer Takeaway: Stay informed about industry leadership changes, as they can impact company policies and market dynamics. Understanding these shifts can help in anticipating changes in partnerships and client relations.
Real Estate-Related Stock Performance (as of April 25, 2025)
- Rocket Companies (RKT): $12.37 ▲ 0.4%
- UWM Holdings (UWMC): $4.60 ▼ 0.3%
- Zillow Group (ZG): $62.89 ▲ 0.1%
- Redfin Corp (RDFN): $8.98 ▼ 0.4%
- Lennar Corp (LEN): $106.72 ▲ 0.6%
- D.R. Horton (DHI): $123.10 ▲ 0.4%
- Equifax Inc. (EFX): $252.04 ▲ 0.2%
Builder stocks experienced modest gains following the positive new home sales report, while mortgage lenders showed mixed performance amid rate fluctuations. The market remains sensitive to economic indicators and policy changes.
Loan Officer’s Perspective: Friday – Work on Your Business
As the week concludes, focus on strategies to enhance your business:
- Collaborate with Builders: Engage with builders targeting the affordable housing market to offer tailored financing solutions.
- Educate Clients: Provide insights on the current rate environment and the benefits of rate locks or refinancing.
- Monitor Industry Changes: Stay updated on leadership shifts within key industry players to anticipate potential impacts on your operations.
For structured growth strategies, visit DailySuccessPlan.com.