Martin and St Lucie County Mortgage Rates low

Real Estate

Martin and St Lucie County Home Mortgage Rates

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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 the Mortgage Credit Availability Index, issued by the Mortgage Bankers Association, in the following graph (the higher the index, the easier it is to get a mortgage):

Mountain View

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.

 

Mountain View

As this visual easily illustrates, today’s index is nowhere near the levels it shot up to in 2006.

Bottom Line
Mortgage credit is definitely easing. However, we are not coming close to the lax standards that caused the housing crisis of last decade. 

So breathe easy, call

Geri and Spencer at 772-233-8352 or 970-250-1979

and get started on getting you pre-approved for a mortgage!  No time better than right now!