CMG MI Releases New Housing & Mortgage Market Review: “Housing Bottom May Already Be Past”

Joel Luebkeman
Director of Product Development and Strategic Partnerships
CMG Mortgage Insurance Co.
595 Market Street, Suite 400
San Francisco, CA  94105
P: (415) 284-2508
F: (415) 369-8800

SAN FRANCISCO – The latest Housing & Mortgage Market Review issued by CMG Mortgage Insurance Company (CMG MI) presents a U.S. housing market on the upswing and potentially past the bottom for both home sales and prices.

The quarterly report, authored by economist Ralph DeFranco (Ph.D., University of California, Berkeley, Calif.,), analyzes key regional and national market data to support his view:  “Leading indicators of home sales continue to trend upwards” and “growing pent-up demand, record affordability and a rapidly falling supply of houses for sale … all point to a sustainable turnaround in home prices.”

The Housing & Mortgage Market Review cites U.S. demographics helping over time, as well as buyer demand generated by the “temporary dearth of household formations over the last 4 years.”

Although the report cautions that the continuing European economic crisis may negatively impact the recovery, DeFranco sees many of the frequently mentioned housing market concerns as overblown, predicting that “the housing market rebound will be stronger than conventional wisdom is forecasting, at least in many markets.”

The report also presents the latest Housing Appreciation Risk Index (HARI) and a regional roundup of employment, delinquencies and house prices.

“CMG MI’s Housing and Mortgage Market Review is a valuable tool for real-estate-lending credit unions,” said Jill Estep, senior vice president and co-general manager of CMG MI.  “It delivers an expert analysis of the various data and makes sense of what’s going on in the industry, especially at this crucial time.  We’re pleased to be able to make this available to credit unions as part of our commitment to supporting their business goals.”

The report is available on the CMG MI Website at
Licensed in all states, CMG Mortgage Insurance Company (CMG MI) operates as a corporate joint venture between CMFG Life Insurance Company and PMI Mortgage Insurance Co., in rehabilitation.  The company provides private mortgage guaranty insurance to protect credit unions against potential losses in the event of borrower default.   By covering default risk on residential first mortgage loans, CMG MI facilitates the sale of low-down-payment mortgages in the secondary mortgage market and expands homeownership opportunities by enabling credit union members to buy a home with a down payment of less than 20 percent.  For more information, visit

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