James B. Lockhart III,Director,Federal Housing Finance Agency
By:Dennis Norman
In an interview on CNBC’s Squawk Box James Lockhart,Director of the Federal Housing Finance Agency which is the regulator of Freddie Mac,Fannie Mae and the Federal Home Loan Banks had a few good things to say about the real estate market.
When asked about his thoughts on the housing market he was somewhat optimistic with his reply,saying “I think we’re in process and we may be starting to see some bottoming (of the market). How long that will take,well its anybody’s guess…..Certainly mortgage rates being down where they were were very helpful at 5.4%. They’re higher (now),but they’re still in a range that I think does achieve affordability.”
When asked with regard to interest rate if he had any doubt in his mind that we have seen the lows,maybe a generational low in mortgage rates,Mr. Lockhart responded “That’s probably a reasonable statement,but you never know.”
For about two months now I have been saying I thought we could be nearing the bottom of the market…the stats seem to keep showing it as do the opinions of those monitoring the market such as Mr. Lockhart. Time will tell….once thing is probably for sure though and that is interest rates are only going to be headed one direction in the hear future and that direction is UP.
Related posts:
- HVCC has caused havoc with appraisals –help may be on the way
- Feds pulling support of mortgage market- will interest rates increase?
- Lower interest rates are not the answer…the market is proving this to be true
- HAMP loan modifications up 40 percent in September;Serious mortgage delinquencies up 147 percent in past year
- Fed Reserve Board says signs Real Estate Market may be stabilizing
Thanks for the great writeup. This helps me alot in my decision making.
Thanks for the comment Yon!
Dennis