From President Donald Trump to the housing market, metro Detroit mortgage executives are bullish on the macro economy as 2025 kicks into high gear. 

Both of the region’s two big mortgage lenders — United Wholesale Mortgage (NYSE: UWMC) and Rocket Companies Inc. (NYSE: RKT)) — among the largest in the industry, reported 2024 earnings this week, and each showed positive momentum with growth in lending and returning to profitability.

In general, local mortgage executives say the current economic conditions are ripe for growth in the space, and industry data tends to back that up. 

In particular, the work being done by Trump and his officials in Washington, D.C. is “all very positive,” said UWM CEO Mat Ishbia. He pointed to the appointment of Michigan native, homebuilding scion and online personality Bill Pulte to be the director of the Federal Housing Finance Agency, as well as new leadership at the Consumer Finance Protection Bureau and Department of Housing and Urban Development.

“I think these things are massive, massive wins for our industry,” Ishbia said during the company’s Wednesday earnings call with investors. “And I’m extremely bullish (for the) next three or four years, obviously, with President Trump in place. President Trump is leading and doing things and doing all the things he said … making cuts and different things. I think it’s all upside, all positive.”

Rocket executives, meanwhile, stayed away from addressing Trump or his administration’s initiatives, but said they generally believe the macro landscape and the current housing market will lay the groundwork for a strong 2025.

“If I were to use one word just to describe how we feel about the year in our market outlook, the word is ‘optimism,'” Rocket CEO Varun Krishna said during the company’s Thursday investor call. 

While macroeconomic issues like inflation and the potential impact from tariffs make for red flags, the housing market is poised for a strong year, Krishna said, pointing to increased inventory and home equity being at an all-time high. 

“So you put all that together and when you look at the forecast that leads you to believe that there’s going to be a higher market for the mortgage industry,” he said.

Industry data tends to back that up. The most recent Mortgage Finance Forecast from the Mortgage Bankers Association industry trade group shows total mortgage originations growing 15.5% this year from 2024 to over $2 trillion and continuing to accelerate to nearly $2.5 trillion by 2027.

The question for Ishbia — and the mortgage industry in general — is the impact of Trump’s actions as they relate to mortgage interest rates, which remain just below 7%, still elevated for many buyers facing near-record high home prices. 

Should interest rates fall, “then this is a bull run like you haven’t seen, probably since 2020 or 2021 (and) if it doesn’t impact interest rates positively, and interest rates stay where they are, well it’s still a positive uptick,” Ishbia said. 

CEO enthusiasm for a second Trump administration has been high since his November election, and several prominent tech executives had a front row seat for his inauguration. Online publication Semafor reported Thursday, however, that patience is wearing thin for many leading CEOs. 

“What decision do you make? Do you want to go left or right?” ON Semiconductor CEO Hassane El-Khoury told Semafor in an interview this week. “Are we going to grow the business? Well, I don’t know. Are there tariffs or not?”

Closer to home, Ford Motor Co. Executive Chairman Bill Ford said his Dearborn-based company has ongoing discussions with the Trump administration around how to grow the manufacturing and auto sectors. 

“I think this administration is acutely aware that it’s important to have a very vibrant American industrial base, but they have to be aware of the implications of some of the decisions,” Ford said during last week’s Crain’s Detroit Newsmakers event. “We’re in the process of having those discussions, and I feel really good about it, frankly.”

For his part, UWM CEO Ishbia said his company continued to perform at a high level during the previous administration, but he expects to ramp up in the coming years. 

“Now, the last four years, we did a heck of a job,” Ishbia said, referring to the Biden administration. “I feel pretty good about it. So if it’s going to be better, I’m happy with it, and I think President Trump’s doing good things, and it’s great to have a leader lead and hopefully do good things for … not only our industry, but America in general.”