The Bly Team's Real Estate Blog: July 2011

Mortgage Trivia

Maye it's just me but I love to watch look at my industry trends and numbers. Here are some I thought that you would enjoy.

Mortgage Trivia

Mortgage Trivia:

90% of mortgage origination's in 2010 were owned or guaranteed by the U.S. government.

44% of all refinances in the 4th quarter of 2010 were cash-in refinances.

57% of perspective home buyers do not understand how adjustable rate mortgages work.

42% of buyers have a conventional loan, 43% have an FHA loan, 7% have a VA loan.

66% of buyers used savings for their down payment. 22% used proceeds from the sale of their home.

34% put down more than 34%, 55 put down 11-19%, 61% put down less than 11%.

66% of the $1.6 trillion mortgage origination's last year were refinances.

33% of Realtors cited difficulty in obtaining a mortgage as the reason for not completing a transaction.

74% of consumers feel that it will be more difficult to get a mortgage in the future.

39% of investment buyers have obtained a mortgage in 2011 compared to 68% in 2007

Applications rejected by the lender in 2010:

home purchases 19.9% Refinances 27.2%

Sources: Joint Center for Housing Studies of Harverd University, NAR profile of Home Buyers and Home Sellers 2010, RISMedia Inc., Nar Memebrs profile 2011 and The Wall Street Journal.

 

 

Deborah Bly Selling homes in League City TX

Deb's PictureRE/MAX Space Center

217 East Main Street
 League City, TX 77573

 Office 832-932-5435

 Cell 281-782-5313

 Deb@AgentBly.com

  www.AgentBly.com

    

Comment balloon 1 commentDeborah Bly • July 29 2011 11:23AM
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