There is no doubt that getting a mortgage is easier today than it was right after the housing crash a decade ago. However, the easing of credit availability has led to some questioning of whether or not we are headed for another housing crisis.
Let’s put everything into the proper perspective.
Mortgage Credit Availability Over the Last Three Years
Getting a home mortgage has definitely gotten easier over the last three years as evidenced by theMortgage Credit Availability Index,issued by theMortgage Bankers Association,in the following graph (the higher the index, the easier it is to get a mortgage):
However, if we look further back at the index we see quite a different story.
Mortgage Credit Availability Today Compared to 2006
The graph below shows the index going back to 2004, and the first graph we showed you above is represented by the small, orange, triangular section all the way in the lower-right corner.
As this visual easily illustrates, today’s index is nowhere near the levels it shot up to in 2006.
Mortgage credit is definitely easing. However, we are not coming close to the lax standards that caused the housing crisis of last decade.
Author:Bonnie Lelak Phone: 404-788-2580 Dated: December 5th 2016 Views: 57 About Bonnie: Experience with regular home sales, short sales, foreclosures, HUD homes, no down payment program ho...
As a Realtor I have been able to use many of the skills that I have learned from my previous experiences. I spent the past 10 years owning a home inspection company with my husband and watched as buyers would find a home and then have it inspected and be disappointed with the findings. I love being able to help buyers from the start of the process. As a buyers specialist I can help clients look at homes with a different eye, always looking for tings that the home inspector will find issues with and helping my clients see possible issues before going under contract, saving them time, money and heart ache. Servicing all levels of buyers, from the first time home buyers to the luxury buyers. The finishing touch is being able to provide them with tools that can help them pay off their home in less than half the time. Helping buyers find their dream home is very rewarding.
As a listing specialist, I find unique ways to get the attention of the buyers, from text marketing, video, and getting your home listed on the first page of Google, it's all about exposure. I use all the outside marketing tricks and tips that I used and learned over the past 8 years to get the word out about your home. Contact me to find out about my exclusive marketing plan!
A study by Edelman Berland reveals that 33% of homeowners wh
"Bonnie Lelak was so professional, attentive, and very eager to help me find a home that was just perfect for my family. I recommend her to anyone looking for a home. She was very easy to contact, always got back to me immediately and really showed care and concern for my family."