Inside Lending | Marketing Snapshot for the Week of February 18, 2025

February 18, 2025/
  QUOTE OF THE WEEK
“Don’t wait to buy real estate. Buy real estate and wait.”—Will Rogers, American vaudeville performer, actor, and humorous social commentator
  NATIONAL MARKET UPDATE
Realtor.com reports the real estate market appears to be cranking up for spring, Inventory keeps growing—giving buyers more options versus last year—and prices keep falling, now down year-over-year 16 weeks in a row. The Mortgage Bankers Association reports mortgage credit availability “increased to start 2025,… rising to its highest level since June 2022,” calling it “a positive development for the spring homebuying season.” A national online real estate database found that at the start of February, there were five months of for-sale inventory, near a six-year high. Economists see a four- to six-month supply as a balanced market.
  REVIEW OF LAST WEEK
STAYING POSITIVE… The good economic news outweighed the disappointing, as the three major stock indexes finished the week ahead, with the tech-y Nasdaq hitting a record high in its best week of the year so far. The Consumer Price Index (CPI) showed inflation rose to 3.0% in January. But two components in the Producer Price Index (PPI) booked monthly inflation declines, which might keep future consumer prices in check. Retail Sales receded in January, possibly from bad weather and tired post-holiday consumers. But traders cheered a drop in jobless claims, a hike in Industrial Production, and a delay in the implementation of reciprocal tariffs. The week ended with the Dow UP 0.5%, to 44,546; the S&P 500 UP 1.5%, to 6,115; and the Nasdaq UP 2.6%, to 20,027. Inflation-hating bonds slipped for the week, the 30-Year UMBS 5.5% down 0.79, to 98.25. The national average 30-year fixed mortgage rate fell again, to its lowest level in 2025, in Freddie Mac’s Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information. DID YOU KNOW… Zillow reports almost a quarter of all listings had a price cut in January, the largest percentage for the month since 2018, noting “buyers in the market today have a good chance of seeing a price cut on their saved listing.”
  THIS WEEK’S FORECAST
HOME BUILDING, EXISTING HOME SALES, FED MINUTES… The forecast is for both Housing Starts and Building Permits to be down a bit in January. Existing Home Sales are also expected to slip for the month. We’ll check FOMC Minutes from the Fed’s January meet for indications of future rate moves.
  FEDERAL RESERVE WATCH
Forecasting Federal Reserve policy changes in coming months. Despite last week’s CPI inflation read, Fed watchers still expect the first rate cut of the year to come in June. Note: In the lower chart, the 2.5% probability of change is a 97.5% probability the rate will stay the same. Current rate is 4.25%-4.50%. AFTER FOMC MEETING ON: CONSENSUS Mar 19 4.25%-4.50% May 7 4.25%-4.50% Jun 18 4.00%-4.25%   Probability of change from current policy: AFTER FOMC MEETING ON: CONSENSUS Mar 19 4.0% May 7 20.5% Jun 18 51.5%
  BUSINESS TIP OF THE WEEK
We all rely heavily on texts and emails. But the fact is, a phone call is a far more effective and efficient form of communication, second only to talking to someone face-to-face. Successful people know this, and pick up the phone—frequently!
The Jim Passi Team at Citywide Home Loans proudly serves Illinois, Wisconsin, Michigan, Indiana, Georgia and Flordia. If you are looking to buy a home or refinance, we have you covered. Apply Now to get started.
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Jim Passi - Citiwide Home Loans

Jim Passi
Regional Manager
NMLS# 158000

1121 E. Main Street, Suite 121
St. Charles, IL 60174
Mobile: 847-899-1813
Email: jim.passi@alamedamortgage.com

Email Me

This testimony is from my

This testimony is from my experience being a first-time home buyer going through the process of purchasing a home with Jim Passi from City Wide home loans. Let me just start off by saying how reliable, courteous, genuine, informational and hardworking Jim Passi is. Jim is not like a lot of other loan officers. My house I purchased for under 160 grand, not a huge real estate deal. From experience with other loan officers they don’t want to deal with a smaller purchase or work on a loan that might be difficult. With our credit score being low and work history not at expectations I was almost positive I would have to wait a year or maybe two years before being approved and close on a house. I definitely had doubts that I would be a home owner, Jim worked hard and stayed in contact with us updating us almost every day of the process, even during evening hours and weekends during the stressful underwriting process. Communication is key and I give Jim a 5-star rating with that. I consider myself an average blue-collar hard-working guy that has experienced hardships during life. Jim was never turned away by the hardships, he was understanding of them and I feel like it made him work even harder to make this process a success.

I just successfully closed on a house with my fiancé. Jim did what I thought was impossible. Again, with our credit score being under 600 and spotty work history it was a difficult process that became a success with a lot of hard work. Jim also got me the best interest rate that was available. He was constantly checking the market and keeping me informed on what was available. He wanted me to take my time and make sure what rate was in our best interest. Jim has a cretin genuine care for his clients and speaking with him so much during this process I know he truly cares and wants to help people. Even after we closed Jim called and congratulated us with excitement. Jim made a dream come true for us that I was sure we would have to wait for. I’m just going to say if he made my dream come true with all the problems I had he can make a lot of others come true for any one in a similar situation. Jim Passi is highly recommended.

Tim A.