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Mark Zandi

NAHB Forecasting 6.6 Percent Jump in Housing Starts in 2014

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A growing economy, rising household formations, low mortgage rates and pent-up demand will help single-family housing production to rev up in 2015 while a growth in renters will keep the multifamily market at cruising altitude or higher, according to economists who participated in yesterday's National Association of Home Builders (NAHB) 2014 Fall Construction Forecast Webinar.Click to continue

Opposing Views for the Role of Government in the Housing Market

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Americans have been engaged in a great ideological war over the role of government since the founding of the nation, and the latest skirmish regards the future role of the government in housing. Since the election of Bill Clinton in 1992, the warring parties have become increasingly entrenched and unwilling to compromise in the name of ideological purity. As a consequence, the future regulatory and economic environments affecting the housing and mortgage industries, related industries, and citizens is uncertain.Click to continue

Housing Recovery to Gain Momentum in 2014

For Sale Sign/Copyright: Getty Images/Credit: Hemera Technologies

With home prices and household formations rising and household balance sheets healing, the ongoing housing recovery is expected to gain momentum next year even as several challenges remain, according to economists who participated in yesterday's National Association of Home Builders (NAHB) Fall 2013 Construction Forecast Webinar. NAHB is forecasting 924,000 total housing starts in 2013, up 18 percent from 783,000 units last year.Click to continue

Home Price Rebounds Propel Market Recovery

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Sparked by rising home prices across much of the nation, the housing recovery is now under way, but fiscal uncertainties and other challenges could result in a bumpy ride in the coming months, according to economists participating in the National Association of Home Builders (NAHB) recent Webinar on the construction and economic outlook.Click to continue

HARP Phase II Announced to Rescue Underwater Mortgages

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The Federal Housing Finance Agency (FHFA), along with Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs), has announced a series of changes to the Home Affordable Refinance Program (HARP) in an effort to attract more eligible borrowers who can benefit from refinancing their mortgage. Dubbed HARP Phase II, the program enhancements were developed at the direction of the FHFA, with input from lenders, mortgage insurers and other industry participants.Click to continue

Rep. Cardoza Seeking Mass Refinance of All Mortgages to Prevailing Low Rates

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California Rep. Dennis Cardoza has announced legislation to stabilize the foreclosure crisis through the federal government’s conservatorship of Fannie Mae and Freddie Mac with support of two of the nation’s leading economists, Columbia Business School Senior Vice Dean Christopher Mayer and Moody’s Analytics Chief Economist Mark Zandi. The Housing Opportunity and Mortgage Equity (HOME) Act would use the federal government’s conservatorship and backing of Fannie and Freddie mortgages to secure the current low market rates for longer fixed terms.Click to continue