During his visit to Arizona this week President Obama announced the lowering of federal mortgage insurance rates. As Arizona Public Radio’s Ryan Heinsius reports, the move is designed to boost the housing market by helping first-time home buyers.
President Obama will speak this morning in Phoenix. One topic he’s expected to cover is the federal government’s easing of some mortgage restrictions in order to boost the nation’s housing market. As Arizona Public Radio’s Ryan Heinsius reports, northern Arizona has seen a healthy increase in recent years in home buying.
Here's a turnaround worth noting: The housing market in Phoenix is emerging from a historic slumber. Foreclosures are down, and new home sales are re-energizing the market -- up 35 percent from a year ago.
Let's get down to street level, shall we? How 'bout Ravenswood Drive near Gilbert's eastern edge.
Ken Peterson is a Vice President for Shea Homes. We're in a development called Spaces. And listen to this, air compressors and nail guns all around us.