Housing starts took another dive in November, falling another 3.7 percent from the revised October estimate of 1,232,000 starts. Even worse, the seasonally adjusted annual November rate of 1,187,000 starts is 24.2 percent below the 1,565,000 annualized rate of residential construction initiated in November...
What a fascinating and tumultuous time is upon us! Both the housing and the mortgage market are convulsing wildly! There are so many facets to the "big picture" that I would never presume have all the answers, so the following disclaimer is in order: I am a mortgage broker and the following is my opinion...
Posted to
MND NewsWire
by
Glenn Setzer
on
Thu, Nov 1 2007
Filed under:
Filed under: housing bubble, home builders, home prices, Freddie Mac, adjustable rate mortgage, Fannie Mae, Conforming Loan, lending standards, mortgage lenders, home equity, underwriting, mortgage backed security, alternative loans, credit rating, real estate boom
Two measures of the housing market were released this week and each shows that, at best, builders are remaining cautious; at worst they are showing a bit of despair. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) for June reported that builders' confidence in...