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Lenders Expect Rising Demand for Purchase Mortgages

As reported by MyAMC.com, Fannie Mae conducted their quarterly Mortgage Lender Sentiment Survey® in May 2016. The results show that “lender attitudes toward the housing market have become increasingly optimistic.”

Lenders report that GSE eligible purchase mortgages are increasing, a trend they’d seen in the past quarter. Credit standards will likely not be changing, though lenders have also noticed a “net ease of credit standards, which is a factor for all loans across the board.”

Though this means predicted continued growth in the real estate and lending markets, Doug Duncan, the Senior Vice President and Chief Economist at Fannie Mae encourages borrowers to remain cautious, as the easing of credit standards may not see a steady rise, but a tapering off.  Duncan stated that “the vast majority of lenders, around 90%, reported plans to keep their credit standards about the same.”

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Read the full article HERE.

San Antonio is a Sweet Spot for Home Ownership

Zillow’s latest analysis places San Antonio at the top of the list of best cities for homeownership, leading cities like Nashville, Tennessee and Tampa, Florida. The Breakeven Horizon Report, released every quarter, determines “how long home buyers need to stay in a home before buying it makes more financial sense than renting it.”

According to Zillow, the break even point for San Antonio home owners is just 16 months, due to the strong income growth and job market here in the Alamo City. “Incomes have appreciated an average of 4 percent over the past year and employment growth has hit almost 3 percent, both more than the national average, making San Antonio a sweet spot for home ownership.”

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Source: NAHREP / RIS Media

Have questions? Call our mortgage hotline: 210-951-6000.