{"id":18497,"date":"2021-02-16T12:47:38","date_gmt":"2021-02-16T12:47:38","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18497"},"modified":"2021-02-16T12:47:38","modified_gmt":"2021-02-16T12:47:38","slug":"mortgage-amounts-reach-record-highs-2","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/mortgage-amounts-reach-record-highs-2\/","title":{"rendered":"Mortgage Amounts Reach Record Highs"},"content":{"rendered":"

Mortgage Amounts Reach Record Highs<\/h1>\n
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The average purchase loan amount has reached a new record high: $402,200, the Mortgage Bankers Association reported Wednesday. The higher-priced segment of the housing market continues to perform strongly, the MBA says.<\/p>\n

Mortgage amounts have been climbing to new record highs since April 2020, near the start of the COVID-19 pandemic.<\/p>\n

Mortgage applications for home purchases were up 17% last week over last year, the MBA reports.<\/p>\n

Home buyers are borrowing more as home prices rise by double-digit percentages over the past year. Also, mortgage interest rates have been hovering near record lows. \u201cSince interest rates are lower, monthly payments are lower\u2014even with higher loan balances,\u201d says The Ascent, a Motley Fool financial publication. \u201cThis makes it easier for would-be borrowers to get approved for bigger loans.\u201d<\/p>\n

Mortgage credit availability is increasing, although still down significantly compared to historical levels, the Mortgage Bankers Association reports. \u201cThe growth in credit availability in January coincides with a housing market that is poised for a strong start to the year,\u201d says Joel Kan, the MBA\u2019s associate vice president of economic and industry forecasting. \u201cImprovements were driven by the conventional segment of the mortgage market, as lenders added ARM loans with lower credit score and higher LTV requirements. Despite ARM loans accounting for a very small share of loan applications in recent months, lenders are likely looking ahead to a strong homebuying season by expanding their product offerings.\u201d<\/p>\n

While credit availability has improved over three of the past four months, Kan still warns that credit supply is at its tightest level since 2014.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cMortgage Applications Decrease in Latest MBA Weekly Survey<\/a>,\u201d Mortgage Bankers Association (Feb. 10, 2021); \u201cHomeowners Are Borrowing More Than Ever as the Average Mortgage Climbs to New Highs<\/a>,\u201d The Ascent\/Motley Fool (Feb. 9, 2021); and \u201cJanuary Mortgage Credit Availability Increases<\/a>,\u201d Mortgage Bankers Association (Feb. 9, 2021)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mortgage Amounts Reach Record Highs The average purchase loan amount has reached a new record high: $402,200, the Mortgage Bankers Association reported Wednesday. The higher-priced segment of the housing market continues to perform strongly, the MBA says. Mortgage amounts have been climbing to new record highs since April 2020, near the start of the COVID-19 … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-18497","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nMortgage Amounts Reach Record Highs - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/mortgage-amounts-reach-record-highs-2\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgage-amounts-reach-record-highs-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgage-amounts-reach-record-highs-2\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Mortgage Amounts Reach Record Highs\",\"datePublished\":\"2021-02-16T12:47:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgage-amounts-reach-record-highs-2\\\/\"},\"wordCount\":316,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgage-amounts-reach-record-highs-2\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/mortgage-amounts-reach-record-highs-2\\\/\",\"name\":\"Mortgage Amounts Reach Record Highs - 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