April 10, 2025
- Elizabeth Ackerman
- Apr 28
- 4 min read
Zillow to bar publicly marketed listings not shared on MLS
Real Estate News
In a move designed to “create an even playing field,” listings that are publicly promoted to consumers but not made widely available via the multiple listing services (MLSs) will be barred from Zillow.com starting in May. “Our belief is that, if a listing is going to be marketed to a buyer or a subset of buyers, it really needs to be made available to all buyers,” said Errol Samuelson, Zillow’s chief industry development officer.
Samuelson confirmed that Zillow considers social media, email blasts and even yard signs to be the kind of public marketing that could keep a listing off Zillow forever if that listing is not submitted to an MLS within 24 hours and made widely available to the places buyers search for homes. “It’s really up to the listing agent and their seller to decide how they’re going to market the listing,” he said. “But if they choose to say, for example, ‘I’m only going to market this listing on my own brokerage website,’ there isn’t fair access to all other buyers.”
Trump trade war with China revives recession, bear market fears
Reuters
President Trump’s trade war rattled global markets anew on Thursday as stocks and oil prices sank amid fears China may once again respond in kind with higher tariffs to match the latest levies imposed by the United States.
Battered global markets and anxious global leaders welcomed Wednesday’s reprieve when Trump suddenly decided to freeze most of his hefty new duties for 90 days. But the uncertainty in the meantime extended some of the most volatile trading since the early days of the COVID-19 pandemic. The S&P 500 ended 3.5 percent lower on Thursday, while the Nasdaq dropped 4.3 percent and the Dow Jones Industrial Average was down 2.5 percent. Oil prices fell more than 3 percent. The S&P 500 is down about 15 percent from its peak, and analysts believe stocks are in danger of falling into a bear market due to the uncertainty surrounding tariff policy.
Recession fears ease briefly as jobless claims remain low
MarketWatch
Initial jobless claims rose by 4,000 to 223,000 in the week ended April 5, the Labor Department said today. This gain was in line with expectations of economists surveyed by the Wall Street Journal. So far, jobless claims have remained remarkably steady even as economists identify a rising risk of a recession in the U.S. economy.
When claims, which are a good and timely measure of layoffs, are below 300,000, that is generally seen as representative of a healthy economy. In fact, claims have been below 226,000 for six straight weeks and for 16 of the past 17 weeks. This raises the prospect that the economy could experience negative GDP growth, setting the stage for a recession, while the labor market remains relatively strong.
Tax credit proposed for hardening homes against fires
Los Angeles Times
For his first bill in the U.S. Senate, Adam Schiff (D-Calif.) has joined a Republican colleague to propose a federal tax credit for certain homeowners who retrofit and harden their homes against wildfires and other natural disasters.
Schiff said the bill would help families making less than $300,000 per year protect themselves and their homes by helping them afford retrofits, while also encouraging insurers to cover more homes in vulnerable areas, which have expanded due to climate change. Insurance policies have become increasingly expensive and difficult to secure across California and in other states as the insurance industry has reassessed the growing threat and potential cost of major climate-driven disasters, such as the wildfires that destroyed parts of the Los Angeles region this year.
Fannie Mae lays off 700 employees
HousingWire
Government-sponsored enterprise (GSE) Fannie Mae has reportedly laid off as many as 700 employees. Some 400 of the firings took place on April 3 with an additional 300 happening the next day. No official, public-facing announcements concerning the layoffs have been posted to Fannie Mae’s website, nor were any press releases distributed to the media about the move. But prior reporting states that following an internal investigation, Fannie Mae determined that its matching gifts program was being used inappropriately by the employees it dismissed. The company emphasized its commitment to ethical practices and accountability.
Federal Housing Finance Agency (FHFA) Director Bill Pulte has made a series of sweeping changes to the GSEs since being confirmed for his role by the Senate. In mid-March, Pulte removed several members of the boards of directors at both Fannie Mae and Freddie Mac, installing himself as board chair of both companies.
Mortgage rates slingshot higher as tariff uncertainty roils market
CNBC
Mortgage rates hit their highest level in over a month this week, reversing course after a period of improvement. The average rate on the 30-year fixed loan jumped 22 basis points Monday and another 3 basis points Tuesday to 6.85 percent, according to Mortgage News Daily. Much like the stock market, the bond market has been on a roller coaster over the last week, and mortgage rates are along for the ride.
Last week the 30-year fixed rate dropped to the lowest level since last October after President Trump announced global tariffs. The announcement sent the stock market plunging and investors rushing to the relative safety of the bond market. As a result, bond yields fell. Mortgage rates loosely follow the yield on the 10-year Treasury bond.
