Homebuyers save $150 a month by choosing an adjustable-rate mortgage

📣 Here we go, Friday. Today’s newsletter is 656 words, a 2.5-minute read.

1. Homebuyers save $150 a month by choosing an adjustable-rate mortgage

The typical homebuyer could save $150 per month by choosing an adjustable-rate mortgage (ARM) instead of a 30-year fixed-rate mortgage. That’s a 5.8% discount, the largest ARM savings in both dollars and percentage terms since June 2022, according to a Redfin analysis of Mortgage News Daily rates.

In March so far, the average ARM borrower took on a 5.51% rate, compared with 6.19% for the average fixed-rate borrower, a 0.68 percentage-point gap, the widest since June 2022.

2. CrossCountry Mortgage to acquire Summit Funding

CrossCountry Mortgage has struck a deal to acquire Summit Funding, expanding its geographic reach, the companies announced Wednesday. Financial terms of the transaction were not disclosed.

Summit Funding is licensed to operate in 48 states and ranks among the top 35 retail lenders nationally. CrossCountry Mortgage, which has more than 8,000 employees and over 700 branches, has been focused on expanding its platform and talent base as it continues to scale its nationwide operations.

3. More Nuggets

🏡 Mortgage rates climb to highest level in more than 3 months. (CNN)

🤝 eXp announces pre-marketing syndication deal with 3 portals. (eXp)

🔄 Fannie Mae, Freddie Mac revise condo insurance standards. (FHFA)

🏦 Fed holds interest rates steady amid inflation, Iran conflict. (TheHill)

🚨 Coach’s Corner

Got on the FinLocker podcast with Travis Newton recently and we covered a lot of ground.

Non-QM, social media, why local loan officers are making a comeback, and why email is still the best platform nobody's fully using.

If you're a LO trying to figure out where to focus your energy right now this one's worth the 30 minutes. [Watch here]

— Dave Krichmar CEO

4. Home flipping activity at 5-year low

A total of 297,045 single-family homes and condos were flipped nationwide in 2025. According to a report from ATTOM, that’s down 3.9% from 309,050 in 2024 and marks the fewest home flips in a year since 2020.

• Investors accounted for 7.4% of flipped homes, down slightly from 7.6% the year before.

• The typical flipped home generated $65,981 in gross profit, compared to $77,000 in 2024. That translates to a 25.5% return on investment, down from 32.1% and the lowest level since 2008.

The home-flipping rate, measured as a share of overall sales, declined year over year in two-thirds (142) of the 215 metro areas analyzed. The largest drops were in Salisbury, Maryland (down 42.2%); Tallahassee, Florida (down 37.5%); Lafayette, Indiana (down 36%); Evansville, Indiana (down 32.9%); and Warner Robins, Georgia (down 32.6%).

5. Compass drops lawsuit against Zillow over listings

Compass has voluntarily dismissed its lawsuit against Zillow, ending a months-long legal dispute over how homes are marketed and sold, according to an announcement made Wednesday.

The brokerage said it dropped the case without prejudice—meaning it can refile in the future—after Zillow updated its Listing Access Standards (LAS) to be more flexible. The changes give listing agents and their clients more flexibility to market “coming soon” properties without the risk of listings being removed.

The dismissal allows Zillow to continue enforcing its listing policies without further legal challenges from Compass.

☀️ You’re all caught up. See you on Monday!

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