Tag Archives: First American Financial Corporation

In a new blog post, First American Chief Economist Mark Fleming explains that " “mortgage rate stability, even if the stabilization occurs at a higher level, is the key to a housing recovery.”

“The steep decline in sales driven by the rapid rise in mortgage rates seems to be behind us, as the initial shock of higher mortgage rates has worn off,” said Mark Fleming, the Chief Economist for First American Financial Corporation.

Boom-bust markets include Phoenix and Austin, Texas. House prices increased 65% from February 2020 to the peak in May of 2022 for both markets, but have since declined by 9.5%

In his new role overseeing First American’s corporate product development team, accomplished tech leader will lead enterprise product development, enhancing products serving customers across multiple divisions.

“The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5.00% to 5.25%,” the Fed said in a prepared statement.

“Affordability declined month-over-month in all of the 50 markets we track, but some markets saw a much sharper decline than others,” said First American Chief Economist Mark Fleming.

“The housing market remains sluggish heading into the spring homebuying season. While mortgage rates have retreated from recent peaks, they remain elevated compared with one year ago,” Chief Economist Mark Fleming said.

“The spring season is typically the busiest time of the year for the housing market,” said Mark Fleming, Chief Economist at First American.

In April, the Five Star Institute will present its annual Government Forum, an event bringing together mortgage servicers and government officials under one roof to share their perspectives on the industry.

Since the pandemic, the housing market has been tumultuous, to put it lightly. In a new blog post, First American Economist Ksenia Potapov discusses whether this year will follow the same course.