Executive Perspectives Blog
We haven't had a spring homebuying season like this in a decade. Wages, housing demand, and construction are up. But inventory and affordability are down. Here’s what housing professionals can do to grow business and cultivate success.
Remember in 2013 when the 15-year fixed-rate mortgage was an unbelievable bargain at just over 2.5 percent, the lowest in recorded history and about three-quarters of a percentage point below a 30-year fixed-rate loan? So everyone buying a house was getting a 15-year loan, right? Nope. Thirty-year fixed-rate mortgages dominated, accounting for almost 90 percent of the home-purchase loan market.
If you own a small multifamily property, it’s good to be a landlord right now. For the better part of a decade, the multifamily market has been delivering lower vacancies and higher rent growth. Post-recession, 2016 was the strongest year yet for the rental market. With the economy nearing full employment and wages continuing to rise, we expect continued growth in demand for multifamily units for the remainder of 2017.
John Cannon, Freddie Mac Multifamily senior vice president of conventional sales, shares some of his notes from the Mortgage Bankers Association’s Commercial Real Estate Finance Conference (MBA-CREF) held in San Diego between February 19 and 22.
Today Freddie Mac reported our fifth straight year of profitability, with net income of $7.8 billion and comprehensive income of $7.1 billion. Our results reflect not only an improving economy but also the very successful work we have done to transform the company.