Executive Perspectives Blog
Fraud continues to threaten homebuyers, renters and the mortgage industry. The latest report from CoreLogic, a real estate information company, says fraud is on an upward trajectory and estimates that some 13,000 mortgage applications made during the second quarter had indications of fraud.
Today Freddie Mac reported net income and comprehensive income of $2.3 billion for the third quarter of 2016. Our results strongly reflect our improving business fundamentals and competitiveness – higher purchase volumes, an eight-year best in credit quality and a continued decline in legacy assets.
Today, the homeownership rate is less than 63 percent, the lowest rate in half a century. It has been declining for over a decade and experts are projecting it will continue to keep falling—perhaps even below 60 percent.
The 21st century has been hard on utility bills. Average water rate hikes surged annually at twice the inflation rate between 2000 and 2012. Lower-income renters were spending 15-to-21 percent of their incomes on energy by 2011, says the Joint Center for Housing Studies. And this was before 2013, when severe droughts, winters and scorching summer heatwaves began rolling regularly across the country.
Improving home energy and water efficiency is a meaningful way to help tackle two of today's most pressing concerns: housing affordability and society's impacts on the environment. But financing these improvements can be a challenge. Freddie Mac helps make it easier. And we're working to do even more.