Two More Ways the Mortgage Market differs from 2007/2008

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The chart below shows how loans with a credit score under 660 – the bottom colours of yellow and dark blue – which were about 20% of the total in the 2004-2007 period, have virtually ceased, with loans over 720 now making up the vast majority of new mortgages.

Two other changes:
Adjustable-rate mortgages can lead to higher default rates when interest rates rise, but they now represent less than 5% of total purchase and refinance loans, compared with over 35% at the peak of the pre-GFC (Global Financial Crisis) housing cycle. (FORTUNE)

The ratio of Americans’ mortgage debt to their real estate assets—also called loan-to-value—was just 27% in the second quarter, compared to over 40% in 2008 and roughly 50% in 2010. (Bank of America)

And these recent articles:
Core Inflation Prices Barely Budged in August
Two More Ways the Mortgage Market differs from 2007/2008
October Inventory shows Sharp Jump from September
Credit Score Change Could Help Millions of Buyers

2 of Every 25 U.S. Homes Worth at Least $1M
Marblehead Mid-year 2023 Market Stats
 Swampscott Mid-year 2023 Market Stats
 Salem Mid-year 2023 Market Stats

Economic and mortgage commentary
Two signs Inflation is Slowing
What drives Mortgage rates in one chart
How Marblehead’s 2023 Property Tax Rate is Calculated
Essex County 2023 Property Tax Rates: Town by Town guide
Why Mortgage Rates Will Fall
Two More Ways the Mortgage Market differs from 2007/2008
Market Reports
 Essex County 2022 Housing Market Review
Essex County Town by Town Guide: 2022 Median Prices and Sales; 2023 Tax Rates

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or ajoliver47@gmail.com.

Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

m 617.834.8205

www.OliverReportsMA.com

“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”
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Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
Andrew.Oliver@Compass.com
www.AndrewOliverRealtor.com
www.OliverReportsFL.com

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Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205