Mortgage Lending is NOT Out of Control!!

Mortgage Lending is NOT Out of Control! | Keeping Current Matters

This year, both Freddie Mac & Fannie Mae have introduced new programs that only require a 3% down payment on a mortgage in order to purchase a home. Earlier this month, the Mortgage Bankers’ Association reported that adjustable-rate mortgages (ARMs) may be making a slow comeback as the share of ARMs increased to 7.4 percent of total mortgage applications. Some see this loosening of lending standards as a point of concern.

We know that the ridiculously low lending standards of the early 2000’s were part of the reason a housing bubble formed and burst last decade. Some are worried that we are headed down the same road that caused that housing crisis.

However, a recent survey of a distinguished panel of over 100 economists, investment strategists, and housing market analysts conducted by Pulsenomics showed the vast majority disagree. The survey revealed that only 4% of the experts felt that over the next twelve months lending standards would “ease too much, become too lax”.

Here are the results of that survey:

Mortgage Access Survey | Keeping Current Matters

Bottom Line

There is no question that lending standards are easing; thereby giving more families the opportunity of accomplishing the American Dream of homeownership. However, we are not going back to the ridiculousness of the last decade.

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About abolastig

Antonio Bolastig is one of the most dedicated and committed real estate agents in the nation. There are many qualities and skills that go into being an excellent real estate professional - integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how Antonio work. That said, in Antonio''s experience as a real estate professional, hehas also found that providing the very best service is essentially about putting his clients first. This means keeping himself accessible, being a good listener as well as a good communicator, and responding quickly to his clients'' needs. This "client first" philosophy has always been his approach and it requires him to continually improve his skills and ways of doing business. In addition, Antonio has found that the latest technologies are enabling him to do everything he has always done, only much more quickly and efficiently. They''ve also helped him to extend the range of services he provide to his clients. Antonio is backed by Realty Mark LLC, recognized as a leading real estate company with the most productive sales force in the industry. So when you decide that you''d like to buy or sell a home, please contact Antonio Bolastig.
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