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Is It Easier to Get A Mortgage?

June 25, 2018

According to a new report, some consumers actually believe that getting a mortgage is not difficult. Consumer confidence in obtaining a mortgage is 10 percent higher than it was just a quarter ago, according to National Mortgage News.

 

"The claim that getting a mortgage wouldn't be challenging rose to 46% in the second quarter from 36% in the first quarter, likely due to positive perceptions of the improving economy," according to NMN.

 

According to NAR Chief Economist Lawrence Yun, confidence in attaining a home is higher because of "healthy job creation and faster wage growth." 

 

Meanwhile, an additional infographic from NAR shows that 82 percent of consumers ages 55-64 believe that now is the right time to sell.

 

It is an interesting time in the housing market because folks are seeing higher home prices in their neighborhoods.

 

Low inventory is the biggest factor in home prices at the moment, however, if folks believe that now is the time to buy, there is a chance that we see plenty of homes hit the market. This could potentially fill that void in inventory.  

 

To learn more about the NAR findings and what it could mean for the future of the housing market, click on the image above

 

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