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Ex-Countrywide chief sees luxury home rout as tax bill bites

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Ex-Countrywide chief sees luxury home rout as tax bill bites angelo mozilo had a front-row seat during the collapse in housing prices a decade ago. Now the former chief executive officer of Countrywide Financial Corp. is predicting another drop, and for some homeowners it may be even worse.

Ex-Countrywide chief sees luxury home rout as tax bill bites Angelo Mozilo had a front-row seat during the collapse in housing prices a decade ago. Now the former chief executive officer of Countrywide Financial Corp. is predicting another drop, and for some homeowners it may be even worse.

Now the former chief executive officer of Countrywide Financial Corp. is predicting another drop, and for some homeowners it may be even worse. High-end properties in coastal states may fall as much as 40% from their peak value because many people can no longer afford them after losing deductions in the U.S. tax overhaul that passed in late 2017, Mozilo said in an interview with Bloomberg Television.

New-home sales declined more than forecast in December New-home sales tumble to a 10-month low in December as. – New-home sales tumble to a 10-month low in December as recovery remains rocky By. Even with a double-digit december decline, 2016 brought 12.2% more sales than 2015. New-home sales declined.

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Housing market remains sluggish in Canada despite March rebound Freddie mac (otcqb: fmcc) today released the results of its primary mortgage market survey® (PMMS®), showing that fixed-rate mortgages held steady. 30-year fixed-rate mortgage (frm) averaged 4.06% with an average 0.5 point for the week ending May 23, 2019, down from last week when it averaged 4.07%.