CNBC.com Article: No Housing Recovery Without Private Label Mortgage Investors-Danville real estate-San Ramon real estate-Pleasanton real estate-bay area real estate
CNBC.com Article: No Housing Recovery Without Private Label Mortgage Investors
Despite the lowest interest rate on the 30 year fixed in six months, mortgage applications to purchase a new home fell last week, over 3 percent. In fact, purchase application volume has been falling, on average, for the past four weeks, which is particularly troubling in this, the supposedly busiest season of the year for home buying.
This article was re-posted from a CNBC article regarding the secondary mortgage market. As the government decides on lowering the conforming loan limits we will see this issue become even more important. Many investors have fled the mortgage market in search of a safer have and without the secondary mortgage market there mat not be enough money to go around when financing jumbo loans.
