Home sales are rising, boosted by luxury homes, and low-down payment buyers being welcomed back to the market. “Today’s” mortgage rates are very low in a historic sense.
As the housing market improves, mortgage lenders have made low down payment programs available to U.S. buyers. The programs aren’t just for first-time buyers, either. Repeat home buyers are getting access to the same low down payment products as everyone else.
For six straight quarters, U.S. lenders eased loan approval standards. More loans are getting approved than during any period this decade as lenders are becoming more understanding of the reality of today’s market.