Single-family housing starts rebounded 5.7% in October as low mortgage rates and strong homebuyer demand continued to fuel another record-breaking year for homebuilders.The U.S. Census Bureau reported that single-family starts increased from a seasonally adjusted annual rate of 1.56 million in September to 1.65 million in October. The National Association of Home Builders estimates that single-family construction activity this year will beat the 2003 record of 1.50 million starts by 6%. Meanwhile, a November survey by the NAHB shows that builders remain optimistic about the momentum in the housing market. That confidence is based not just on low mortgage rates, but also on the "interest they are seeing from customers," said NAHB economist Michael Carliner. Mr. Carliner said he expects a pick-up in job growth to support the housing market next year, despite rising mortgage rates. The Census Bureau also reported that multifamily (five or more units) starts rose 7.0% to a seasonally adjusted annual rate of 338,000 in October from a 316,000 rate in September.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
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A special committee is exploring any possible structural "strategic alternatives," which would be aimed at increasing shareholder value, the real estate investment trust said.
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But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
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Industry leaders expressed a high degree of satisfaction with technology in use, but also said a product's cost is the most important criteria for them when partnering with vendors, according to Fannie Mae research.
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