Today I thought I would take a minute to just reflect on all of the changes in the mortgage and real estate industry.
WOW! Rates are great. However, it seems harder and harder to get people qualified for conforming mortgages. Even borrowers with FICO scores in the high 700's are being looked at with a microscope. Now days I think anyone with a score under 680 FICO should invest in Credit Restoration.
For all the people that bought homes a year ago the current real estate market is sad. On the other hand we have tons of investors and first time home buyers taking advantage of the great mortgage rates and low housing prices.
Buyers, home owners, agents and LO's a like, I would enjoy hearing your thought on what is happening out there. Please take a minute to comment with your thought.