A frequent question I get – what is the Jumbo Mortgage market like? Over the past year, those who qualified for loans that conformed to Fannie Mae guidelines (Conforming loans), saw very low interest rates and pretty streamlined approvals – you just needed to have documented income, a down payment of 3.5% to 20%, and [...]
The Federal Reserve Bank of Cleveland issued an interesting report comparing the US and Canadian housing markets. In “Why Didn’t Canada’s Housing Market Go Bust?” I learned that overall Canada is more conservative with money and financial risks than we Americans. The most cited estimate is that subprime lenders had a market share of roughly [...]
