Mortgage Archive

Tight Mortgage Credit Weighs on Consumers

Tight credit restrictions can prevent consumers from getting a mortgage and making a home purchase. But over time, tight credit can impact a consumer’s expectations of the mortgage application process, reducing their willingness to even apply for a mortgage...

Increase in Tenure in Home: Due to Increased Buying Power?

I remember giving my mom a hard time when I was kid saying we moved too much (we did), to which she retorted “Everyone moves every six years. It’s a fact.” It was only many years later that I...

When the Sting of FHA’s Fees Becomes a Bite

The FHA has more than doubled its mortgage insurance premiums since 2010 and most recently eliminated the phase out of mortgage insurance on certain products. As a result, the private mortgage insurance industry has been able to recover and...

Fewer First-time Buyers Obtaining Mortgages With Low Down Payment

NAR’s REALTORS® Confidence Index Survey data shows that fewer first-time buyers are obtaining mortgages with down payment of 6 percent or less [1]. In 2009, among REALTORS® who reported a sale to a first-time home buyer, 74 percent of...

37 Percent of REALTORS® With Mortgage Sales Reported Downpayment of 20+%

Based on data from the January 2014 REALTOR® Confidence Index survey, about 37 percent of respondents who reported a mortgage-financed sale reported a down payment of 20 percent or more. Under more cautious underwriting standards, buyers may have to...