Mortgage News Roundup: Rates Steady, Reverse Mortgages Get a Boost

Here's what happened this week in the mortgage world, and what it means for you: ## Reverse Mortgages Get a Champion Mutual of Omaha Mortgage is sponsoring a reverse mortgage broker certification program through NAMB (HousingWire). This is great news because better-trained brokers mean borrowers get more accurate information and avoid costly mistakes. Reverse mortgages can be powerful tools for seniors, but they require careful planning. This program aims to improve the overall experience. ## Fathom Realty Bolsters Leadership Stephanie Verderose joins Fathom Realty as VP of Growth, reporting to Lori Muller (HousingWire). While this is an internal move, strong leadership at brokerages ultimately benefits borrowers. More productive agents, supported by a positive company culture, are better equipped to guide clients through the home buying or selling process. It signals Fathom's commitment to expansion and agent support. ## Scaling Tech and Leadership in Housing HousingWire is spotlighting past Rising Stars award winners like Daniel Butbul. Recognizing and promoting talented individuals in the industry pushes everyone to innovate. When people are recognized for their contributions, it fosters a culture of improvement that translates to better services and technology for both borrowers and brokers. ## Redfin and Zillow Fight Antitrust Allegations Redfin and Zillow are defending their rental partnership against an FTC antitrust suit (HousingWire). The core argument is whether their combined rental advertising presence creates a monopoly. If the FTC wins, it could mean more competition and potentially lower advertising costs for landlords, eventually impacting rental prices. However, the case is ongoing, and the outcome is uncertain. ## Mortgage Rates Hold Steady Despite a dip in existing home sales due to January weather, mortgage rates remained relatively stable thanks to a positive inflation report (HousingWire). A 30-year fixed-rate mortgage is hovering around 6.75%, with some lenders offering slightly lower rates for qualified borrowers. While sales were down, the stable rates offer a glimmer of hope for increased activity as the weather improves. ## Sam's Take: Reverse Mortgages are Gaining Traction Of all these stories, the Mutual of Omaha partnership with NAMB to certify reverse mortgage brokers has the biggest potential impact. For too long, reverse mortgages have been misunderstood or even feared. This initiative promotes education and professionalism, which are key to building trust and ensuring seniors make informed decisions about their financial futures. We're seeing more interest in reverse mortgages as a retirement planning tool, and this program is a step in the right direction. ## Bottom Line While the housing market still faces challenges, there are positive signs. Rates are holding steady, and industry players are investing in education and growth. If you're considering buying, selling, or refinancing, now is the time to explore your options. A good mortgage professional can help you find the right loan for your individual needs and guide you through the process. "The best time to plant a tree was 20 years ago. The second best time is now." - Sam Tehranchi Custom Mortgage Inc. NMLS #268582