The market share of government-insured mortgage applications, (mainly FHA loans) is at its highest level since 1990.
According to the Mortgage Bankers Association, the June market share of 35.9 percent is up from the previous year's figure of 27 percent.
FHA loans have gotten a lot of press recently in NYC, since they allow down payments of only 3% or so.
Of course buyers having "no skin in the game" is one of the many causes of the hosing bubble.
Ironic that the same problem may be salvation for some individual properties.
Economic and socio-politcal ideology aside, if i had a development to sell, i would be seeking
an FHA certification.
According to the Mortgage Bankers Association, the June market share of 35.9 percent is up from the previous year's figure of 27 percent.
FHA loans have gotten a lot of press recently in NYC, since they allow down payments of only 3% or so.
Of course buyers having "no skin in the game" is one of the many causes of the hosing bubble.
Ironic that the same problem may be salvation for some individual properties.
Economic and socio-politcal ideology aside, if i had a development to sell, i would be seeking
an FHA certification.
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