Major metros where you can buy luxury homes for less than $1 million

👋 Good morning, welcome back! Today's newsletter is 523 words, a 2-minute read.

1. Trump looks to South Korea to bring down mortgage rates through MBS investment

HUD and Ginnie Mae signed a memorandum of understanding with South Korea’s Korea Housing Finance Corp. to promote long-term investment in U.S. agency mortgage-backed securities (MBS).

The deal aims to ease barriers to capital flow and strengthen financial ties—even as trade tensions escalate, with President Trump recently imposing steep tariffs on South Korean exports.

It’s the first agreement of its kind between HUD and KHFC, signaling sustained foreign interest in U.S. housing assets despite broad sell-offs, particularly by China.

South Korea currently holds $35.5 billion in U.S. MBS and $122 billion in Treasurys. HUD officials cast the move as a sign that global investors are “ready to do business in America again.”

2. Trigger leads bill passes in Senate

The Senate unanimously passed the Homebuyers Privacy Protection Act, aiming to restrict unwanted credit offers tied to mortgage "trigger leads."

• These leads are generated when a consumer applies for a mortgage and their credit data is sold to competitors, prompting a flood of solicitations. The bill bans such offers unless the consumer consents or has an existing relationship with the lender.

A similar bill cleared the House Financial Services Committee last week. That version adds a study on trigger lead text messages, reflecting lobbying from credit bureaus that oppose tighter restrictions.

Mortgage industry groups back the legislation, calling it a major step toward protecting consumer privacy. Differences between the Senate and House versions must be reconciled, but momentum is strong, and a final law is expected by year-end.

3. More Nuggets

💰 Major metros where you can buy luxury homes for less than $1 million. (Redfin)

🚨 Consumer sentiment rises for 1st time this year as inflation remains tame. (TheHill)

📈 Despite rising rates, purchase applications were up 20% YoY last week. (NAR)

🤔 Could a single credit report model work for the mortgage industry? (2thePoint)

💸 Americans pay trillions in rent, but few get credit score boost for it. (CNBC)

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4. Forecasts for the second half of 2025

As we head into the second half of the year, many of the leading industry firms have published their forecasts. Here’s a summary of what they project will happen by the end of the year regarding home prices and mortgage rates.

5. Homebuyer suit against eXp tossed on technicality

A federal judge dismissed a lawsuit brought by Cleveland homebuyer Michael Ammann against eXp Realty and its leadership, citing improper service of court documents.

Ammann, representing himself, alleged fraud and negligence tied to a home purchase involving an eXp agent who allegedly violated company policy by doing renovation work.

• But the judge found that Ammann didn’t serve the lawsuit correctly—he left the documents with a customer service rep, which isn’t legally valid.

The court also said the complaint lacked enough specific facts linking eXp to any wrongdoing. The dismissal is without prejudice, giving Ammann 14 days to refile. He still has a second case pending against eXp and two of its agents.

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

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