"We believe that the recent slower pace of the recovery caused by an uptick in mortgage interest rates is a temporary effect, and we expect to see steady upward demand for housing as consumers adjust to both higher rates and pricing," said KB Home President and CEO Jeffrey Mezger.
Several reports were released Tuesday that implied continued success for home prices in the U.S. — a sure sign that the housing market is back on its feet. The Federal Housing Administration home price index and the Standard & Poor’s/Case-Shiller HPI, both came out with relatively positive data.
An estimated 63,000 homeowners received permanent, affordable loan modifications from mortgage servicers in July, including mods completed under both proprietary programs and the government’s Home Affordable Modification Program, according to a report from Hope Now.
They have a plan for GSE reform and are confident it will make headway, despite the fact that Congress only has a few months left in the year. Sens. Bob Corker, R-TN, and Mark R. Warner, D-VA, sat down with Zillow Chief Economist Stan Humphries to discuss the Housing Reform and Taxpayer Protection Act of 2013.
Housing experts suggest existing-home sales are unlikely to see an impact from the Fed's decision not to taper just yet, with factors such as seasonality and a lack of first-time homebuyers influencing future trends.
Brickman takes to helm of one of the largest mortgage companies in the U.S. today, and while times at the government-sponsored enterprise are filled with uncertainty, Brickman sees nothing but excitement for the future of Freddie Mac.
When buying a home, many Americans consider a 20% down payment to be the norm, the ideal amount of money to put down to get a conventional mortgage with no private mortgage insurance and to keep monthly payments reasonably affordable.