Credit Scores Archive

Time to Normalize Fees

In the spring of 2015, the Federal Housing Administration (FHA) reduced its annual insurance premium. The move was controversial as the FHA was below its statutory capital ratio of 2.0 percent. However, the reduction in the MIP generated an...

Return Buyers: Many Already Here, Many More to Come

Executive Summary Default rates jumped in 2006 and between then and 2014 nearly 9.3 million borrowers were foreclosed on, received a deed in lieu of foreclosure, or short sold their home.  To date, nearly a million of these former...

Using NAR Research to Address Prospective Buyer Concerns “Credit Is Tight. Can I Get a Mortgage?”

Credit availability is currently easing—but is still tight for many people.  Work by Dr. Laurie Goodman of the Urban Land Institute (summarized in a REALTOR® University presentation)  shows that the proportion of potential home buyers with credit under 660 is...

Consumer Interest in Housing Gains Momentum

The Federal Reserve Board of New York released its update to the Survey of Consumer Expectations this morning.  Consumer optimism toward housing has improved significantly at the lower credit spectrum from last spring, and remains robust at the middle...

Credit Conditions Still Difficult But Slowly Easing

Qualifying for a mortgage is still generally difficult, although becoming easier, according to the January 2015 REALTORS® Confidence Index Survey.  Some respondents in states such as TX, CA, and NY reported that more people are qualifying for credit.  About...