A New High for Mortgage Availability, Concerns Continue
After the financial and housing debacle of recent years, we've all been hoping for a big turnaround. In recent years we've seen most housing markets rebounding, with slow but steady and strengthening progress. However, mortgage availability with lenders has threatened to kill this progress having run scared for a good run with tight credit restrictions. So tight, in fact that many would be buyers were prevented from moving forward with the dream of home ownership.
Now it would seem, that lending policies, while still much (and responsibly) tighter than the sub prime fiasco of the past, have become reasonable enough for a much larger pool of home buyers. If the credit score is not quite where it needs to be it's not so far out of reach that a would be buyer can't fix it with a little time and attention to their unique credit and financial profile.
The Mortgage Bankers Association Index marked 114 in March, and the highest readin... read full post