If you need assistance, please call 407-513-4724

New Blog PostIs Getting a Mortgage Getting Easier?

Thursday, April 9, 2015   /   by Matthew Freda

New Blog PostIs Getting a Mortgage Getting Easier?

Is Getting a Mortgage Getting Easier?

Is Getting a Mortgage Getting Easier? | Simplifying The Market

There has been a lot of discussion about how difficult it is to get a home mortgage in this market. There is no doubt that the process is not as easy as it was eight to ten years ago and that’s probably good news. However, it does appear that availability to mortgage money is increasing with each passing day.

The Mortgage Bankers’ Association publishes the Mortgage Credit Availability Index (MCAI). According to their site the index is “a summary measure which indicates the availability of mortgage credit at a point in time”. As we can see from the graph below, mortgage availability has been increasing dramatically over the last six months.

Mortgage Availability | Simplifying The Market

Accompanying the latest index was this comment from Mike Fratantoni, MBA's Chief Economist:

"A number of factors contributed to a loosening of credit in March: Freddie Mac's introduction of their 97 LTV program (Fannie Mae's was implemented in December) [and the] additional loosening of parameters on jumbo loan programs… Although credit remains tight by historical standards, this increase in availability, coupled with low rates and job market strength, should lead to stronger home purchase activity this spring."

Bottom Line

If you have remained on the sidelines regarding homeownership because you were concerned about your ability to qualify for a mortgage, it may be time to get into the game.

 

Matthew
Freda
 
 
Freda Realty, Inc.
Longwood, FL
Freda Realty...Experience the Difference!
(407) 513-4724

 





 

Send me an Email

 

 

 

 

eXp Realty, LLC
Matthew Freda
651 W Warren Ave
Longwood, FL
407-513-4724

© 2020 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.9/25/2020 10:13 AM CST
This site powered by CINC: www.cincpro.com