Mortgage credit has continued to loosen, especially for first-time buyers, as shown by the upward trend in the NMRI.
Historically low mortgage rates, an improving labor market, and loose credit standards, combined with a 37-month-long seller’s market for existing homes, continue to drive up home prices faster than income.
The most recent figures on the housing market indicate that the season has been one of outsized sales, according to resident fellows Edward Pinto and Stephen Oliner.
The NAR is relying on faulty facts to support faulty conclusions in support of a self-interested policy agenda.
Earlier this week the Fed released the closely-watched quarterly Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS). Unfortunately, the information provided by the survey has always been limited at best, and useless at worst.
Free stuff sounds good to many people, and it’s not just Democrats who promise it.
International experts from industry, academia, the financial community, and government share lessons learned from their efforts to objectively measure housing risk.
Primarily due to a reliance on low-down-payment, 30-year mortgages and other highly leveraged lending, our affordable homeownership policies have failed to achieve two primary goals – broadening homeownership and achieving wealth accumulation for low- and middle-income homeowners.
AEI’s Agency First-Time Buyer Mortgage Risk Index (FBMRI) measures the safety of mortgage lending to first-time buyers in the US. The index uses the default experience of loans originated in 2007 as a benchmark to calculate the expected default rate for new mortgage loans if they were hit with a market collapse akin to the 2007-08 financial crisis.
Covering a housing or banking story today? Here’s the latest from the experts on the AEI financial services team.