As new home buyers try to take advantage of lower property values, they are finding it difficult to find a first time buyer mortgage. Although this is a buyer’s market right now, banks are simply too skittish thanks to the housing crisis. Many banks prefer not to take the risk of offering a first time […]
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First-Time Buyer Mortgage Applications Down to Lowest Levels since Mid-1970’s
Posted on May 24th, 2008 by Bright Light
Although they have weathered housing crises in the past compared to other types of mortgages, the decline in first-time buyer mortgage applications has seen its most significant decline in over 30 years. Most schools of thought lean towards the first-time consumer preferring to see what is happening in the market rather than jumping into it, […]
First Time Buyer Mortgage Applications Continue to Decline
Posted on May 15th, 2008 by Bright Light
The rate for first time buyer mortgage applications is down to its lowest level since the mid-1970’s and experts are considered that it’s only going to get worse. All mortgage applications are down, but the first time buyer mortgage market is usually able to weather housing crises, especially when prices fall. However, this time, it […]
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