President Donald Trump said his administration plans to make housing more affordable for new homebuyers while keeping home values high for existing homeowners.

Trump delivered his State of the Union address to a joint session of Congress on Tuesday night and touted the lower cost of new mortgages since he took office in January 2025.

“Mortgage rates are the lowest in four years and falling fast, and the annual cost of a typical new mortgage is down almost $5,000 just since I took office. One year,” Trump said.

“Low interest rates will solve the Biden-created housing problem while at the same time protecting the values of those people who already own a house that really feel rich for the first time in their lives. We want to protect those values; we want to keep those values up. We are going to do both. And we are going to keep it that way,” the president added.

FHFA CHIEF SAYS TRUMP DEPLOYED $200B TO SLASH MORTGAGE RATES, CLAIMS IMPACT WAS IMMEDIATE

President Donald Trump touted the decline in mortgage rates since he took office during his State of the Union address. (Kent Nishimura/Reuters)

Data from Freddie Mac shows that the average rate on a 30-year fixed mortgage declined from 7.04% in January 2025, when Trump began his second term, to the current 6.01%.

While lower interest rates can help with the affordability of mortgages taken out by new homeowners, they have an inverse relationship with home prices, as lower rates stimulate demand among prospective buyers, which pushes home values higher.

That dynamic can counteract the affordability improvements from lower mortgage rates by increasing the size of the mortgage, as both elements factor into the owner’s monthly payments.

Investors have noted that the most effective way to lower home prices would be to expand the supply of homes, though they cautioned that most of the laws and regulations are governed at the state and local level, which gives the federal government few options.

EFFORTS TO REIN IN WALL STREET LANDLORDS COULD PUSH US HOME PRICES UP, INVESTORS SAY

Investors say expanding the supply of homes is the best way to make homeownership more affordable for Americans. (Joshua Lott/Bloomberg via Getty Images)

Trump also discussed his plan to ban institutional investors from buying large numbers of homes, citing the experience of a State of the Union guest who he said was outbid for 20 homes by “gigantic investment firms that bypassed inspection. Paid all cash and turned those houses into rentals, stealing away her American dream.”

The president said that stories like those prompted his executive order banning large investment firms from buying homes and called on Congress to make the ban permanent, adding that, “We want homes for people, not for corporations.”

Trump’s order directs federal regulators to promote home sales to individuals and to issue guidance preventing federal programs from facilitating single-family home sales to Wall Street investors. The order also mandates antitrust scrutiny of institutional home purchases and calls on Congress to codify the changes into law.

TRUMP MOVES TO BLOCK WALL STREET FROM BUYING SINGLE-FAMILY HOMES IN SWEEPING NEW EXECUTIVE ORDER

Lower interest rates bring more buyers into the market, which can push home values higher. (Andrew Burton/Getty Images)

Jake Krimmel, senior economist at Realtor.com, said of the move that, “In particular, large institutional investors represent a relatively small share of the national housing stock, and because their activity is often highly localized, it remains an open question whether banning new purchases would meaningfully shift metro-level markets.”

National Association of Home Builders CEO Jim Tobin said that his organization has been engaged with the administration to push policies that could help lower the cost of building new homes, adding that “corporate investment in housing has been a driver of new home construction.”

Wall Street firms including Blackstone, American Homes 4 Rent and Progress Residential have bought thousands of homes since the 2008 financial crisis prompted a wave of foreclosures. Firms owned about 3% of all single-family rental homes by June 2022, government data showed.

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Those firms dispute that their investments have stoked inflation in housing prices, with Blackstone noting it has been a net seller of homes for the last decade.

Reuters contributed to this report.

Rocket Companies Inc.’s stock climbed 3.63% to close at $17.71 on February 24, 2026, snapping a recent losing streak as investors positioned for the company’s fourth-quarter and full-year 2025 earnings report on February 26, with focus on mortgage origination trends, servicing growth from the Mr. Cooper acquisition, and progress toward profitability in a volatile interest rate environment.

As of February 24, 2026, Rocket Companies (NYSE: RKT) traded in a session range of $16.58 to $17.75 with volume exceeding 23.9 million shares. The shares have shown volatility year-to-date in 2026, down from early January levels near $20 but up significantly from 2025 lows around $10.94. Market capitalization stands around $37 billion, reflecting cautious optimism amid ongoing mortgage market challenges.

The February 24 gain followed analyst previews and options activity signaling potential volatility around earnings. Consensus estimates call for Q4 revenue of approximately $2.26 billion to $2.30 billion—up sharply from prior-year levels due to higher origination volumes—and EPS near $0.00 to $0.08, a modest improvement from losses in comparable periods. Full-year 2025 revenue is projected at $6.32 billion, with EPS around -$0.14.

The earnings mark a pivotal moment as Rocket integrates its pending acquisition of Mr. Cooper Group, expected to create the largest U.S. mortgage servicer with a combined servicing base nearing 10 million loans. The deal, announced in prior periods, aims to build a “flywheel” of origination, servicing, and technology to capture volume when rates decline. Analysts note that lower rates in 2026 could drive refinancing activity, benefiting Rocket’s platform.

Rocket’s Q3 2025 results, reported earlier, showed adjusted revenue of $1.78 billion, adjusted EBITDA of $349 million, and adjusted diluted EPS of $0.07, with strong client experience metrics and technology advantages highlighted. The company continues emphasizing its vertically integrated model, including Rocket Mortgage, Rocket Homes, and related services, to navigate a high-rate environment that has suppressed purchase and refinance demand.

Recent news includes a Super Bowl ad partnership with Redfin emphasizing neighborly homeownership, released February 6, 2026, and ongoing efforts to support small businesses in mortgage-related services. Institutional activity showed mixed moves, with Rhumbline Advisers increasing its stake by 68.2% in Q3 2025, adding shares worth about $4.11 million.

Analyst sentiment remains mixed. Consensus among covering firms leans Hold, with average 12-month price targets around $20.50 to $21.57—implying 15-22% upside from recent levels. Some firms express caution due to rate sensitivity and integration risks from Mr. Cooper, while others highlight potential for earnings recovery if mortgage volumes rebound. Options markets have priced in meaningful moves around the February 26 release, with elevated implied volatility and skewed positioning.

Rocket’s strategy focuses on technology and data advantages to enhance client experience and operational efficiency. The company anticipates 2026 as a recovery year for mortgage activity, with guidance updates expected on the earnings call at 4:30 p.m. ET on February 26. Positive commentary on origination growth, servicing scale, or cost controls could extend gains; any signs of prolonged weakness in housing might pressure shares further.

Rocket Companies, founded as Quicken Loans and rebranded, remains a leader in U.S. mortgage origination and servicing. Its platform approach and acquisition strategy position it to benefit from eventual rate relief and housing market stabilization. As earnings approach, investor attention will center on execution amid macro uncertainty and the path to consistent profitability.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

The future of The Fat Duck and other restaurants founded by Heston Blumenthal is in doubt after HM Revenue & Customs issued a winding-up petition against the chef’s parent company.

HMRC has moved against SL6 Ltd, which owns The Fat Duck in Bray, Berkshire, alongside the one-Michelin-starred The Hinds Head and several affiliated ventures. Around 130 staff are understood to be at risk should the petition proceed.

The action follows a further deterioration in the group’s finances. Accounts filed at Companies House show SL6 Ltd recorded a loss of £2.05m for the year to 2024, up from £1.39m the previous year, despite turnover of £8.9m.

Administrative expenses totalled £8.4m, including £2.3m in cost of sales, while staff costs rose to £4.07m, reflecting inflationary pressure and higher wage bills.

The company’s accounts reveal total debts of £2.7m, including £1.67m owed in taxation and social security and £5,417 in corporation tax. It also reported a bank overdraft of £806,091, more than the £697,605 held in cash, alongside several outstanding bank loans.

A strategic report signed by Ronald Lowenthal, who now controls SL6 Ltd after Blumenthal sold his stake in 2006, acknowledged a year of “tough economic conditions”, citing inflation across the supply chain, recruitment challenges and rising wage costs.

Lowenthal said the company had chosen not to pass the full burden of inflation on to customers, despite the impact on profitability. The Fat Duck’s signature 13-course tasting menu, “The Journey”, is currently priced at £350 per head.

Auditors Lawfords Consulting previously described the business as a “going concern”, noting management was seeking long-term funding to stabilise operations. However, HMRC’s decision to file a winding-up petition suggests negotiations may not have secured sufficient support.

A spokesperson for HMRC said it could not comment on individual cases but added that winding-up petitions are only filed after other recovery options have been exhausted.

The development comes at a difficult time for the UK hospitality sector, which has faced rising energy bills, food inflation and higher employment costs in recent years. Fine dining establishments have been particularly exposed to fluctuations in discretionary spending.

The timing is also notable given fresh political debate around the value of the hospitality sector. Comments this week from a senior government adviser suggesting Britain does not “need any more restaurants” have drawn criticism from industry figures already grappling with higher taxes and regulatory pressures.

Blumenthal, famed for inventive dishes such as snail porridge and “Sound of the Sea”, became one of Britain’s most recognisable chefs through The Fat Duck’s experimental cuisine and television appearances. The restaurant has long been regarded as a cornerstone of modern British gastronomy.

If the winding-up petition proceeds and the company cannot secure funding or reach a settlement with HMRC, the case could result in compulsory liquidation, placing one of Britain’s most celebrated culinary brands in jeopardy, however a spokesperson for SL6 Limited, has said: “This was an administrative oversight during our transition to a new accounting system, which we are working to resolve. Our restaurants are busier than ever, and there will be no impact on our operations. From our side, it is business as usual.”

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

Cisco Systems Inc.’s stock held firm near $64.50 in late February 2026, closing at $64.48 on February 24 after a 0.78% gain, as the networking giant continued to benefit from strong demand for AI infrastructure, a solid second-quarter earnings beat, and a 3% dividend increase announced earlier in the month.

As of February 24, 2026, Cisco (NASDAQ: CSCO) traded in a session range of $63.92 to $64.85 with volume of approximately 18.4 million shares. The shares have risen about 12% year-to-date in 2026, trading near the upper end of their 52-week range from $44.50 to $65.20. Market capitalization stands around $260 billion, reflecting investor confidence in Cisco’s transition toward high-growth areas such as AI networking, security, and observability.

The recent stability follows Cisco’s second-quarter fiscal 2026 results released February 12, 2026 (for the quarter ended January 25, 2026). The company reported revenue of $14.0 billion, down 6% year-over-year but beating analyst expectations of $13.7 billion. Adjusted earnings per share reached $0.96, topping consensus estimates of $0.92. Product orders grew 11% year-over-year, driven by strong demand for AI-related networking solutions, while remaining performance obligations (RPO) increased 18% to a record $42.3 billion.

CEO Chuck Robbins highlighted the acceleration of AI infrastructure deployments as a key driver, with networking orders up significantly due to hyperscaler and enterprise investments in AI data centers. Security revenue grew 8%, and observability products continued gaining traction. The company noted improved supply chain dynamics and a shift toward software and subscription models, which contributed to gross margin expansion to 68.4% on an adjusted basis.

On February 12, Cisco announced a 3% increase in its quarterly dividend to $0.41 per share, payable April 23, 2026, to shareholders of record April 2. The move underscores the company’s strong cash generation and commitment to shareholder returns, with a current yield around 2.5%. Cisco also repurchased $2.5 billion in stock during the quarter under its ongoing authorization.

Analysts remain predominantly bullish. Consensus among 25-30 firms rates CSCO a Moderate Buy to Buy, with average 12-month price targets around $68 to $72—implying 5-12% upside from current levels. High targets reach $80 from firms like Morgan Stanley and JPMorgan, citing AI tailwinds and margin expansion. Some caution persists around legacy product declines and competition from Arista Networks and others in high-speed switching for AI clusters.

Cisco guided for third-quarter fiscal 2026 revenue of $13.6 billion to $13.8 billion and adjusted EPS of $0.83 to $0.85, aligning with or slightly above consensus. Management emphasized continued AI networking momentum, security resilience, and progress toward its $1 billion annualized run rate target for observability products.

The company continues investing heavily in AI, including silicon advancements through its Silicon One platform and partnerships with hyperscalers for next-generation data center fabrics. Recent announcements include expanded collaboration with NVIDIA on AI infrastructure and new observability tools for generative AI workloads.

Challenges include a transitional period in traditional enterprise networking, where some customers delay upgrades amid economic uncertainty. However, Cisco’s diversified portfolio—spanning networking, security, collaboration (Webex), and observability—provides resilience. The shift toward software and recurring revenue streams supports improving margins and predictability.

The next earnings report, for third-quarter fiscal 2026, is expected in mid-May 2026. Investors will scrutinize AI order trends, security growth, margin progress, and any updates on full-year guidance or strategic initiatives.

Cisco Systems, a foundational player in global networking, has successfully pivoted toward AI-driven opportunities while maintaining strong cash flow and shareholder returns. Record RPO, dividend growth, and AI tailwinds position the company for sustained performance in 2026, even as legacy segments face headwinds. With shares trading at attractive multiples relative to historical averages and peers, Cisco remains a core holding for investors seeking exposure to AI infrastructure and enterprise technology.