Housing prices are rising so fast around the country – “too fast,” as the chief economist at the National Association of Realtors said recently – that they are all but obliterating any gains buyers are seeing from record-low interest rates.
Ellie Mae, the biggest provider of cloud-based technology to the mortgage industry, is being sold to the company which owns the New York Stock Exchange.
Is it easier today for homebuyers with a high debt ratio and sub-par credit scores to qualify for a mortgage than it’s been in years?
Rising home prices drove up the average down payments on single-family homes and condos to a new record in the third quarter of 2017, according to the January 2018 Down Payment Report.
Mortgage credit availability decreased slightly in October according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association that analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool.