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- Foreclosure activity rises in Q1 2025
Foreclosure activity rises in Q1 2025
Plus: Consumer sentiment plummets
🌅 Good morning, Monday! Today’s newsletter is 548 words, a 2.5-minute read.
Disclaimer: Average mortgage rates as of April 11, 2025. © MND Daily Rate Index.
1. Consumer sentiment plummets
Consumer confidence took another hit this month, primarily due to escalating worries about trade wars, inflation, and the labor market.
The Consumer Sentiment Index plummeted to 50.8 in April, its second-lowest reading on record, surpassed only by June 2022.
The Consumer Sentiment Index is a monthly survey of consumer confidence levels with regards to the economy, personal finances, and buying conditions, conducted by the University of Michigan. There are two reports each month; a preliminary report released mid-month and a final report released at the end of the month.
2. Foreclosure activity rises in Q1 2025
Foreclosure activity rose in the first quarter of 2025, ending three straight quarters of decline, according to a report released by property data firm ATTOM.
From January through March, 93,953 properties had foreclosure filings, including default notices, scheduled auctions and bank repossessions. That’s up 11% from the previous quarter, but still 2% lower than the same time last year.
In March alone, 35,890 properties were in foreclosure—an 11% increase from February and 9% higher than a year earlier.
“Foreclosures are still below normal levels, but the recent increase shows that some homeowners may be feeling the effects of ongoing economic challenges,” said Rob Barber, CEO of ATTOM. “Even so, strong home equity in many areas is helping prevent a larger jump in distress.”
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3. More Nuggets
💰 How much federal money your state gets. (Axios)
⛪️ Tapping sacred space: A new answer to the housing shortage? (theHustle)
🗞️ These are the housing bills now in front of Congress. (HousingWire)
🇨🇳 Here’s how China could crush the U.S. housing market. (CNBC)
4. Charted: Markets with high homeowner equity
Between March 2020 and June 2022, home prices jumped by 43%. As a result, many homeowners today hold significant equity in their homes. Using loan-to-value (LTV) data from BatchService, ResiClub has calculated both the national average and state-level LTV percentages across the country.
5. CFPB rescinds registry rule for lawbreaking nonbanks
The CFPB announced on Friday that it will not prioritize enforcing a regulation that requires a registry of nonbank financial companies found to have violated consumer protection laws. The purpose of the registry was to track nonbanks that have breached court orders or violated local, state, or federal consumer laws.
The regulation, “Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders,” was announced by the CFPB in June.
“The Bureau will instead continue to focus its enforcement and supervision activities on pressing threats to consumers. The Bureau is further considering issuing a notice of proposed rulemaking to rescind the regulation or narrow its scope.”
☀️ You’re all caught up. See you on Wednesday!
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