Morning Briefing: Mortgage access tightened in Q1 2015

by Steve Randall02 Sep 2015
Mortgage access tightened in Q1 2015
Getting a mortgage was more difficult in the first quarter of 2015 according to Zillow’s Mortgage Access Index. Although borrowing had been progressively easier in the years from 2012 the index shows tighter conditions at the start of this year but virtually unchanged from a year before.

"Recent market volatility is causing some lenders to be more cautious in their underwriting," said Zillow Chief Economist Dr. Svenja Gudell. "Tighter mortgage access will make it harder for people with low credit scores to get a home loan, and even people who can get approved for a mortgage will have fewer options in terms of available mortgage products." 
The survey of more than 100 economists and housing experts found that 60 per cent expect lending conditions to become easier but many feel that it may become too easy to obtain a mortgage in the next year.
Hottest markets in the US revealed
San Francisco has topped a list of the 20 hottest housing markets in the US compiled by The rankings focus on buyer demand and days on market and SF isn’t the only Californian market to rank highly.
Vallejo (4), Santa Rosa (5), San Jose (6), San Diego (7), and Sacramento (9) are all in the top ten along with Dallas (2), Denver (3), Midland, TX (8) and Columbus, OH (10). The lower 10 also features 5 Californian cities.
Minnelli says goodbye to Broadway (Upper East Side actually)
Liza Minnelli has reportedly sold her iconic home in New York’s Upper East Side for $8.7 million. The legendary performer is spending more time in Los Angeles reports the New York Post but her spokesperson said that she will still spend lots of time in Manhattan. The 21st floor apartment is in Imperial House at 150 East 69th Street.
Realtors honored for exceptional service
The California Association of Realtors is recognizing three real estate agents for going above and beyond in their work. Kay Wilson-Bolton of Century 21 Hometown Realty in Santa Paula, Calif.; Kim Eichorn of Lyon Real Estate in Davis, Calif.; and Anthony Cassel of Bay Sotheby’s International Realty in Berkeley, Calif. will be honored having been selected by their peers. The three will become “Champions of Home” for exceptional service to their clients.  



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