FHA/VA Mortgage Credit Availability Declines With Rate Increases (But Rising For Jumbos And Conventional)

The mortgage landscape has changed since Dodd-Frank Banking legislation and the rise in interest rates.

Government (aka, FHA and VA) mortgage credit availability has been declining since 2017 while jumbo and conventional (non-government insured) credit availability has been rising.

mbagovtdec

And yes, the US is back to housing bubble levels of nonbank share of mortgage originations.

Mortgages-non-bank-Sept-18.jpg

There is little doubt that stagnant wage growth compared to home price growth is helping to skew the data.

fhfaearnugh

Seems like old times.

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